Diamond Hill Capital Management Inc. boosted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 132.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,284,971 shares of the company’s stock after purchasing an additional 1,869,411 shares during the period. Philip Morris International comprises approximately 1.9% of Diamond Hill Capital Management Inc.’s holdings, making the stock its 12th largest position. Diamond Hill Capital Management Inc. owned approximately 0.21% of Philip Morris International worth $364,665,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Philip Morris International by 2.7% in the second quarter. Vanguard Group Inc. now owns 111,475,174 shares of the company’s stock worth $13,092,759,000 after acquiring an additional 2,972,929 shares in the last quarter. BlackRock Inc. grew its position in Philip Morris International by 2.7% in the second quarter. BlackRock Inc. now owns 91,796,829 shares of the company’s stock worth $10,781,538,000 after acquiring an additional 2,421,533 shares in the last quarter. FMR LLC grew its position in Philip Morris International by 12.5% in the second quarter. FMR LLC now owns 20,919,201 shares of the company’s stock worth $2,456,960,000 after acquiring an additional 2,330,864 shares in the last quarter. Alliancebernstein L.P. grew its position in Philip Morris International by 57.8% in the second quarter. Alliancebernstein L.P. now owns 5,840,773 shares of the company’s stock worth $685,999,000 after acquiring an additional 2,139,002 shares in the last quarter. Finally, Amerigo Asset Management bought a new stake in Philip Morris International in the second quarter worth approximately $209,061,000. 72.36% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have commented on the stock. Jefferies Group reissued a “hold” rating and issued a $120.00 target price on shares of Philip Morris International in a research report on Thursday, September 28th. Cowen reissued a “buy” rating on shares of Philip Morris International in a research report on Sunday, September 24th. Goldman Sachs Group began coverage on shares of Philip Morris International in a research report on Monday, October 2nd. They issued a “buy” rating for the company. Piper Jaffray Companies restated a “buy” rating and issued a $130.00 price objective on shares of Philip Morris International in a research note on Sunday, October 22nd. Finally, Societe Generale upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday, October 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $124.23.
In related news, Chairman Louis C. Camilleri sold 108,979 shares of the company’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $108.38, for a total transaction of $11,811,144.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.23% of the stock is owned by corporate insiders.
Shares of Philip Morris International Inc. (PM) traded down $0.77 during trading on Thursday, hitting $104.86. 4,106,400 shares of the stock were exchanged, compared to its average volume of 4,640,000. The company has a debt-to-equity ratio of -2.91, a current ratio of 1.13 and a quick ratio of 0.68. Philip Morris International Inc. has a twelve month low of $89.97 and a twelve month high of $123.55. The firm has a market capitalization of $162,870.00, a PE ratio of 23.15, a price-to-earnings-growth ratio of 1.88 and a beta of 0.89.
Philip Morris International (NYSE:PM) last released its earnings results on Thursday, October 19th. The company reported $1.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.11). The company had revenue of $7.50 billion for the quarter, compared to analyst estimates of $7.75 billion. Philip Morris International had a net margin of 9.32% and a negative return on equity of 67.59%. Philip Morris International’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.25 earnings per share. equities research analysts anticipate that Philip Morris International Inc. will post 4.75 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 11th. Investors of record on Thursday, December 21st will be paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 4.08%. The ex-dividend date is Wednesday, December 20th. Philip Morris International’s payout ratio is currently 94.48%.
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Philip Morris International Company Profile
Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.
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