Comerica Bank lessened its stake in shares of Philip Morris International Inc. (NYSE:PM) by 0.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 490,919 shares of the company’s stock after selling 4,532 shares during the quarter. Comerica Bank’s holdings in Philip Morris International were worth $51,399,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Doliver Capital Advisors LP lifted its position in Philip Morris International by 8.1% in the 3rd quarter. Doliver Capital Advisors LP now owns 29,755 shares of the company’s stock worth $3,303,000 after buying an additional 2,242 shares during the last quarter. Hourglass Capital LLC lifted its position in Philip Morris International by 0.9% in the 2nd quarter. Hourglass Capital LLC now owns 76,258 shares of the company’s stock worth $8,957,000 after buying an additional 650 shares during the last quarter. WFG Advisors LP lifted its position 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 buying an additional 2,951 shares during the last quarter. Wedbush Securities Inc. lifted its position 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 buying an additional 4,123 shares during the last quarter. Finally, Swiss National Bank lifted its position in Philip Morris International by 1.0% in the 3rd quarter. Swiss National Bank now owns 5,958,031 shares of the company’s stock worth $661,401,000 after buying an additional 58,900 shares during the last quarter. 72.35% of the stock is owned by institutional investors and hedge funds.
PM has been the topic of a number of analyst reports. Morgan Stanley lifted their price target on Philip Morris International from $120.00 to $123.00 and gave the stock an “overweight” rating in a research note on Tuesday. Zacks Investment Research raised Philip Morris International from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Jefferies Group raised Philip Morris International from a “hold” rating to a “buy” rating and set a $124.00 price target on the stock in a research note on Friday, January 19th. Citigroup decreased their price target on Philip Morris International from $117.00 to $114.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 16th. Finally, Piper Jaffray Companies reissued an “overweight” rating and set a $137.00 target price (up from $130.00) on shares of Philip Morris International in a research note on Thursday, January 11th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Philip Morris International currently has an average rating of “Buy” and a consensus price target of $125.14.
Shares of Philip Morris International Inc. (NYSE:PM) traded down $1.73 during mid-day trading on Friday, reaching $103.44. The company had a trading volume of 6,420,000 shares, compared to its average volume of 4,670,000. The stock has a market capitalization of $160,660.00, a PE ratio of 22.83, a price-to-earnings-growth ratio of 2.10 and a beta of 0.85. Philip Morris International Inc. has a 12 month low of $97.25 and a 12 month high of $123.55. The company has a debt-to-equity ratio of -2.91, a quick ratio of 0.68 and a current ratio of 1.13.
The company also recently declared a quarterly dividend, which was paid on Thursday, January 11th. Investors 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 yield of 4.14%. Philip Morris International’s payout ratio is 94.48%.
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Philip Morris International 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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