Ameriprise Financial Inc. lowered its position in Philip Morris International Inc. (NYSE:PM) by 3.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,033,894 shares of the company’s stock after selling 776,304 shares during the quarter. Philip Morris International comprises about 1.1% of Ameriprise Financial Inc.’s holdings, making the stock its 5th biggest holding. Ameriprise Financial Inc. owned approximately 1.35% of Philip Morris International worth $2,335,183,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the business. Commonwealth Equity Services Inc lifted its position in shares of Philip Morris International by 2.5% during the third quarter. Commonwealth Equity Services Inc now owns 493,387 shares of the company’s stock worth $54,770,000 after purchasing an additional 11,972 shares in the last quarter. British Airways Pensions Investment Management Ltd lifted its position in shares of Philip Morris International by 2.4% during the third quarter. British Airways Pensions Investment Management Ltd now owns 471,694 shares of the company’s stock worth $52,349,000 after purchasing an additional 11,279 shares in the last quarter. Quantbot Technologies LP lifted its position in shares of Philip Morris International by 531.7% during the third quarter. Quantbot Technologies LP now owns 54,538 shares of the company’s stock worth $6,054,000 after purchasing an additional 45,904 shares in the last quarter. Putnam FL Investment Management Co. acquired a new stake in shares of Philip Morris International during the third quarter worth about $1,732,000. Finally, IBM Retirement Fund lifted its position in shares of Philip Morris International by 1.3% during the third quarter. IBM Retirement Fund now owns 38,511 shares of the company’s stock worth $4,705,000 after purchasing an additional 509 shares in the last quarter. 72.35% of the stock is owned by institutional investors.
Several analysts recently weighed in on the stock. Wells Fargo & Co reissued an “outperform” rating and set a $135.00 price objective (down previously from $140.00) on shares of Philip Morris International in a report on Wednesday, November 15th. Jefferies Group cut their price objective on shares of Philip Morris International from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Thursday, October 12th. Morgan Stanley raised their target price on shares of Philip Morris International from $120.00 to $123.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 30th. Piper Jaffray Companies restated a “buy” rating and set a $130.00 target price on shares of Philip Morris International in a research report on Sunday, October 22nd. Finally, Zacks Investment Research upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a research report on Monday, October 30th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $125.14.
Shares of Philip Morris International Inc. (NYSE PM) traded down $1.73 during midday trading on Friday, hitting $103.44. 6,397,540 shares of the company’s stock traded hands, compared to its average volume of 4,903,767. The stock has a market cap of $160,663.33, a price-to-earnings ratio of 22.83, a P/E/G ratio of 2.02 and a beta of 0.85. Philip Morris International Inc. has a 52 week low of $99.10 and a 52 week high of $123.55. The company has a quick ratio of 0.68, a current ratio of 1.13 and a debt-to-equity ratio of -2.91.
The company also recently declared a quarterly dividend, which was paid on Thursday, January 11th. Stockholders of record on Thursday, December 21st were paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 4.14%. The ex-dividend date was Wednesday, December 20th. Philip Morris International’s dividend payout ratio (DPR) is presently 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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