Ameriprise Financial Inc. lessened its position in shares of Philip Morris International Inc. (NYSE:PM) by 3.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,033,894 shares of the company’s stock after selling 776,304 shares during the quarter. Philip Morris International comprises approximately 1.1% of Ameriprise Financial Inc.’s portfolio, making the stock its 5th largest position. Ameriprise Financial Inc. owned about 1.35% of Philip Morris International worth $2,335,183,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Doliver Capital Advisors LP raised its position in Philip Morris International by 8.1% in the third quarter. Doliver Capital Advisors LP now owns 29,755 shares of the company’s stock valued at $3,303,000 after purchasing an additional 2,242 shares during the period. Hourglass Capital LLC raised its position in Philip Morris International by 0.9% in the second quarter. Hourglass Capital LLC now owns 76,258 shares of the company’s stock valued at $8,957,000 after purchasing an additional 650 shares during the period. WFG Advisors LP raised its position in Philip Morris International by 30.1% in the second quarter. WFG Advisors LP now owns 12,753 shares of the company’s stock valued at $1,498,000 after purchasing an additional 2,951 shares during the period. Wedbush Securities Inc. raised its position in Philip Morris International by 28.0% in the second quarter. Wedbush Securities Inc. now owns 18,832 shares of the company’s stock valued at $2,212,000 after purchasing an additional 4,123 shares during the period. Finally, Swiss National Bank raised its position in Philip Morris International by 1.0% in the third quarter. Swiss National Bank now owns 5,958,031 shares of the company’s stock valued at $661,401,000 after purchasing an additional 58,900 shares during the period. 72.36% of the stock is currently owned by hedge funds and other institutional investors.
Philip Morris International Inc. (PM) opened at $104.50 on Friday. The company has a market cap of $162,310.00, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 1.88 and a beta of 0.89. 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 12 month low of $89.97 and a 12 month high of $123.55.
Philip Morris International (NYSE:PM) last posted its quarterly 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 business had revenue of $7.50 billion during the quarter, compared to analyst estimates of $7.75 billion. Philip Morris International had a negative return on equity of 67.59% and a net margin of 9.32%. The business’s revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. sell-side analysts forecast that Philip Morris International Inc. will post 4.75 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, January 11th. Shareholders of record on Thursday, December 21st were paid a $1.07 dividend. The ex-dividend date was Wednesday, December 20th. This represents a $4.28 annualized dividend and a dividend yield of 4.10%. Philip Morris International’s dividend payout ratio (DPR) is 94.48%.
A number of brokerages have issued reports on PM. Piper Jaffray Companies reissued an “overweight” rating and issued a $137.00 target price (up previously from $130.00) on shares of Philip Morris International in a research report on Thursday. 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 Philip Morris International in a research report on Monday, October 2nd. They issued a “buy” rating on the stock. Finally, Societe Generale raised Philip Morris International from a “hold” rating to a “buy” rating in a research report on Friday, October 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. Philip Morris International has a consensus rating of “Hold” and a consensus price target of $124.77.
In other Philip Morris International news, Chairman Louis C. Camilleri sold 108,979 shares of the business’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $108.38, for a total value of $11,811,144.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.
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About Philip Morris International
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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