Fairfield Bush & CO. reduced its stake in shares of Philip Morris International Inc. (NYSE:PM) by 4.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,884 shares of the company’s stock after selling 2,175 shares during the quarter. Philip Morris International accounts for 1.2% of Fairfield Bush & CO.’s portfolio, making the stock its 27th largest position. Fairfield Bush & CO.’s holdings in Philip Morris International were worth $3,947,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in PM. Optimum Investment Advisors acquired a new stake in shares of Philip Morris International in the first quarter valued at $100,000. Shine Investment Advisory Services Inc. increased its stake in shares of Philip Morris International by 90.7% in the second quarter. Shine Investment Advisory Services Inc. now owns 1,245 shares of the company’s stock valued at $101,000 after buying an additional 592 shares in the last quarter. Landaas & Co. WI ADV acquired a new stake in shares of Philip Morris International in the second quarter valued at $106,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Philip Morris International in the second quarter valued at $108,000. Finally, Cordasco Financial Network increased its stake in shares of Philip Morris International by 214.1% in the second quarter. Cordasco Financial Network now owns 1,357 shares of the company’s stock valued at $110,000 after buying an additional 925 shares in the last quarter. Hedge funds and other institutional investors own 72.88% of the company’s stock.
Shares of PM stock opened at $79.33 on Monday. The company has a debt-to-equity ratio of -2.76, a current ratio of 1.15 and a quick ratio of 0.64. The stock has a market capitalization of $124.44 billion, a P/E ratio of 16.09, a PEG ratio of 1.76 and a beta of 0.82. Philip Morris International Inc. has a 12 month low of $76.21 and a 12 month high of $116.72.
Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Thursday, July 19th. The company reported $1.41 EPS for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.18. The firm had revenue of $7.73 billion during the quarter, compared to analyst estimates of $7.53 billion. Philip Morris International had a negative return on equity of 76.67% and a net margin of 7.84%. The company’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the company earned $1.14 earnings per share. equities analysts anticipate that Philip Morris International Inc. will post 5.04 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 12th. Shareholders of record on Wednesday, September 26th will be issued a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a yield of 5.75%. The ex-dividend date is Tuesday, September 25th. Philip Morris International’s dividend payout ratio (DPR) is currently 92.49%.
A number of analysts have recently weighed in on PM shares. Morgan Stanley lowered their target price on Philip Morris International from $111.00 to $102.00 and set an “overweight” rating for the company in a research note on Tuesday, July 17th. Jefferies Financial Group lowered Philip Morris International from a “buy” rating to a “hold” rating and set a $80.00 price objective for the company. in a research report on Friday, August 24th. Citigroup set a $90.00 price objective on Philip Morris International and gave the stock a “buy” rating in a research report on Friday, July 20th. ValuEngine lowered Philip Morris International from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 23rd. Finally, Argus upgraded Philip Morris International from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research report on Wednesday, July 25th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $103.36.
Philip Morris International Company Profile
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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