Boys Arnold & Co. Inc. reduced its stake in Philip Morris International Inc. (NYSE:PM) by 4.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,038 shares of the company’s stock after selling 2,210 shares during the period. Boys Arnold & Co. Inc.’s holdings in Philip Morris International were worth $3,685,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Shine Investment Advisory Services Inc. grew its holdings in 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 worth $101,000 after purchasing an additional 592 shares during the period. Landaas & Co. WI ADV purchased a new stake in Philip Morris International in the second quarter worth about $106,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Philip Morris International in the second quarter worth about $108,000. Cordasco Financial Network grew its holdings in Philip Morris International by 214.1% in the second quarter. Cordasco Financial Network now owns 1,357 shares of the company’s stock worth $110,000 after purchasing an additional 925 shares during the period. Finally, BerganKDV Wealth Management LLC purchased a new stake in Philip Morris International in the second quarter worth about $123,000. 72.92% of the stock is owned by institutional investors.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Societe Generale set a $95.00 price objective on shares of Philip Morris International and gave the stock a “hold” rating in a report on Monday, October 22nd. Citigroup increased their price target on shares of Philip Morris International from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, October 19th. ValuEngine upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a report on Thursday, October 18th. Finally, Sanford C. Bernstein assumed coverage on shares of Philip Morris International in a report on Tuesday, October 16th. They set an “outperform” rating and a $97.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $98.08.
NYSE:PM opened at $88.75 on Friday. Philip Morris International Inc. has a 52 week low of $76.21 and a 52 week high of $111.25. The company has a market cap of $137.96 billion, a PE ratio of 18.00, a PEG ratio of 2.03 and a beta of 0.58.
Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, October 18th. The company reported $1.44 EPS for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.16. The firm had revenue of $7.50 billion for the quarter, compared to analysts’ expectations of $7.16 billion. Philip Morris International had a net margin of 8.20% and a negative return on equity of 78.80%. The business’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.27 earnings per share. As a group, sell-side analysts forecast that Philip Morris International Inc. will post 5.01 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Wednesday, September 26th were given a dividend of $1.14 per share. The ex-dividend date of this dividend was Tuesday, September 25th. This represents a $4.56 dividend on an annualized basis and a yield of 5.14%. Philip Morris International’s dividend payout ratio (DPR) is 92.49%.
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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