Rockland Trust Co. decreased its stake in Philip Morris International Inc. (NYSE:PM) by 2.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,491 shares of the company’s stock after selling 641 shares during the period. Rockland Trust Co.’s holdings in Philip Morris International were worth $2,139,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. DF Dent & Co. Inc. lifted its stake in Philip Morris International by 14.0% in the 4th quarter. DF Dent & Co. Inc. now owns 4,027 shares of the company’s stock valued at $425,000 after purchasing an additional 494 shares during the last quarter. Maryland Capital Management lifted its stake in Philip Morris International by 1.7% in the 4th quarter. Maryland Capital Management now owns 29,249 shares of the company’s stock valued at $3,090,000 after purchasing an additional 499 shares during the last quarter. Altrinsic Global Advisors LLC lifted its stake in Philip Morris International by 6.3% in the 4th quarter. Altrinsic Global Advisors LLC now owns 8,426 shares of the company’s stock valued at $890,000 after purchasing an additional 501 shares during the last quarter. Fairfield Bush & CO. lifted its stake in Philip Morris International by 1.0% in the 4th quarter. Fairfield Bush & CO. now owns 53,498 shares of the company’s stock valued at $5,652,000 after purchasing an additional 553 shares during the last quarter. Finally, Biondo Investment Advisors LLC lifted its position in Philip Morris International by 1.3% during the fourth quarter. Biondo Investment Advisors LLC now owns 45,014 shares of the company’s stock worth $4,756,000 after acquiring an additional 570 shares during the last quarter. Institutional investors own 72.28% of the company’s stock.
Several equities research analysts have issued reports on PM shares. Goldman Sachs Group downgraded shares of Philip Morris International from a “conviction-buy” rating to a “buy” rating in a research report on Friday, April 20th. Stifel Nicolaus cut their price objective on shares of Philip Morris International from $125.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, April 20th. Cowen restated a “buy” rating and set a $105.00 price objective on shares of Philip Morris International in a research report on Friday, April 20th. Deutsche Bank set a $100.00 price objective on shares of Philip Morris International and gave the stock a “buy” rating in a research report on Tuesday, April 24th. Finally, TheStreet downgraded shares of Philip Morris International from a “b-” rating to a “c+” rating in a research report on Tuesday, March 20th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $117.67.
Philip Morris International opened at $82.26 on Friday, according to MarketBeat. The company has a debt-to-equity ratio of -2.82, a current ratio of 1.16 and a quick ratio of 0.68. Philip Morris International Inc. has a 1-year low of $76.21 and a 1-year high of $121.69. The company has a market capitalization of $126.10 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 1.62 and a beta of 0.87.
Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, April 19th. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.12. Philip Morris International had a net margin of 7.50% and a negative return on equity of 72.40%. The company had revenue of $6.90 billion during the quarter, compared to the consensus estimate of $7.03 billion. During the same period in the previous year, the business earned $0.98 earnings per share. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. sell-side analysts anticipate that Philip Morris International Inc. will post 5.16 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 11th. Stockholders of record on Friday, June 22nd will be given a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.54%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.07. The ex-dividend date of this dividend is Thursday, June 21st. Philip Morris International’s payout ratio is presently 92.49%.
In other news, Director Louis C. Camilleri sold 100,000 shares of Philip Morris International stock in a transaction that occurred on Friday, May 11th. The shares were sold at an average price of $82.06, for a total value of $8,206,000.00. Following the completion of the sale, the director now directly owns 660,172 shares in the company, valued at $54,173,714.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Miroslaw Zielinski purchased 6,000 shares of the company’s stock in a transaction dated Friday, April 27th. The stock was acquired at an average price of $81.56 per share, with a total value of $489,360.00. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 49,000 shares of company stock valued at $3,989,640. 0.22% of the stock is owned by company insiders.
About Philip Morris International
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.
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