TIAA CREF Investment Management LLC lessened its position in shares of Philip Morris International Inc. (NYSE:PM) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,235,322 shares of the company’s stock after selling 45,167 shares during the period. TIAA CREF Investment Management LLC’s holdings in Philip Morris International were worth $764,412,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. NewSquare Capital LLC increased its holdings in Philip Morris International by 6,572.3% during the 3rd quarter. NewSquare Capital LLC now owns 101,753 shares of the company’s stock worth $116,000 after purchasing an additional 100,228 shares in the last quarter. Front Row Advisors LLC bought a new position in shares of Philip Morris International in the 4th quarter valued at about $118,000. Wolverine Asset Management LLC bought a new position in shares of Philip Morris International in the 4th quarter valued at about $126,000. Cerebellum GP LLC bought a new position in shares of Philip Morris International in the 4th quarter valued at about $128,000. Finally, Independence Bank of Kentucky bought a new position in shares of Philip Morris International in the 4th quarter valued at about $129,000. Hedge funds and other institutional investors own 72.22% of the company’s stock.
Shares of NYSE:PM opened at $101.02 on Monday. Philip Morris International Inc. has a 52-week low of $95.51 and a 52-week high of $123.55. The stock has a market capitalization of $156,907.28, a P/E ratio of 20.49, a PEG ratio of 1.90 and a beta of 0.86. The company has a debt-to-equity ratio of -3.06, a current ratio of 1.35 and a quick ratio of 0.80.
Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, February 8th. The company reported $1.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by ($0.04). Philip Morris International had a net margin of 7.73% and a negative return on equity of 71.99%. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.17 billion. During the same quarter last year, the business posted $1.10 earnings per share. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. sell-side analysts expect that Philip Morris International Inc. will post 5.27 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 11th. Investors of record on Thursday, March 22nd will be paid a $1.07 dividend. The ex-dividend date is Wednesday, March 21st. This represents a $4.28 annualized dividend and a yield of 4.24%. Philip Morris International’s dividend payout ratio (DPR) is currently 86.82%.
Several equities analysts have recently weighed in on PM shares. Zacks Investment Research cut Philip Morris International from a “hold” rating to a “sell” rating in a report on Monday, December 11th. Piper Jaffray restated an “overweight” rating and issued a $137.00 price objective (up previously from $130.00) on shares of Philip Morris International in a report on Thursday, January 11th. Citigroup decreased their price objective on Philip Morris International from $117.00 to $114.00 and set a “neutral” rating for the company in a report on Tuesday, January 16th. Jefferies Group upgraded Philip Morris International from a “hold” rating to a “buy” rating and set a $124.00 price objective for the company in a report on Friday, January 19th. Finally, Morgan Stanley raised their price objective on Philip Morris International from $120.00 to $123.00 and gave the company an “overweight” rating in a report on Tuesday, January 30th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $123.77.
In other Philip Morris International news, CEO Andre Calantzopoulos sold 49,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $103.66, for a total transaction of $5,079,340.00. Following the completion of the sale, the chief executive officer now directly owns 792,765 shares in the company, valued at $82,178,019.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marc S. Firestone sold 13,650 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $104.63, for a total transaction of $1,428,199.50. Following the sale, the insider now owns 189,199 shares of the company’s stock, valued at $19,795,891.37. The disclosure for this sale can be found here. Company 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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