Boston Financial Mangement LLC reduced its position in shares of Philip Morris International Inc. (NYSE:PM) by 5.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,109 shares of the company’s stock after selling 2,139 shares during the quarter. Boston Financial Mangement LLC’s holdings in Philip Morris International were worth $4,230,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of PM. Hourglass Capital LLC lifted its stake in Philip Morris International by 0.9% in the 2nd quarter. Hourglass Capital LLC now owns 76,258 shares of the company’s stock valued at $8,957,000 after buying an additional 650 shares in the last quarter. WFG Advisors LP lifted its stake in Philip Morris International by 30.1% in the 2nd quarter. WFG Advisors LP now owns 12,753 shares of the company’s stock worth $1,498,000 after purchasing an additional 2,951 shares in the last quarter. Wedbush Securities Inc. lifted its stake in Philip Morris International by 28.0% in the 2nd quarter. Wedbush Securities Inc. now owns 18,832 shares of the company’s stock worth $2,212,000 after purchasing an additional 4,123 shares in the last quarter. Suffolk Capital Management LLC purchased a new position in Philip Morris International in the 2nd quarter worth approximately $12,928,000. Finally, Fundsmith LLP lifted its stake in Philip Morris International by 1.5% in the 2nd quarter. Fundsmith LLP now owns 5,240,912 shares of the company’s stock worth $615,545,000 after purchasing an additional 79,106 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.
In other Philip Morris International news, Chairman Louis C. Camilleri sold 108,979 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.23% of the company’s stock.
A number of research analysts have weighed in on the stock. Jefferies Group decreased their target price on shares of Philip Morris International from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Thursday, October 12th. Piper Jaffray Companies set a $135.00 price target on shares of Philip Morris International and gave the stock a “buy” rating in a report on Sunday, October 15th. Wells Fargo & Co restated an “outperform” rating and set a $140.00 price target on shares of Philip Morris International in a report on Tuesday, October 10th. Cowen restated a “buy” rating on shares of Philip Morris International in a report on Sunday, September 24th. Finally, Goldman Sachs Group upgraded shares of Philip Morris International from a “buy” rating to a “conviction-buy” rating and set a $135.00 price target for the company in a report on Thursday, September 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. Philip Morris International has a consensus rating of “Hold” and an average target price of $124.77.
Philip Morris International Inc. (PM) opened at $104.50 on Friday. 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 1 year low of $89.97 and a 1 year high of $123.55. The company has a market cap of $162,310.00, a P/E ratio of 23.07, a price-to-earnings-growth ratio of 1.90 and a beta of 0.89.
Philip Morris International (NYSE:PM) last issued 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). Philip Morris International had a net margin of 9.32% and a negative return on equity of 67.59%. The business had revenue of $7.50 billion during the quarter, compared to analysts’ expectations of $7.75 billion. During the same period in the prior year, the business earned $1.25 EPS. The business’s quarterly revenue was up 7.4% on a year-over-year basis. equities research analysts forecast that Philip Morris International Inc. will post 4.75 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, January 11th. Shareholders of record on Thursday, December 21st were given a $1.07 dividend. The ex-dividend date was Wednesday, December 20th. This represents a $4.28 annualized dividend and a yield of 4.10%. Philip Morris International’s dividend payout ratio is presently 94.48%.
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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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