Doliver Capital Advisors LP raised its stake in shares of Philip Morris International Inc. (NYSE:PM) by 4.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,328 shares of the company’s stock after purchasing an additional 1,301 shares during the period. Philip Morris International accounts for 1.1% of Doliver Capital Advisors LP’s holdings, making the stock its 4th biggest position. Doliver Capital Advisors LP’s holdings in Philip Morris International were worth $2,636,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Alerus Financial NA increased its position in Philip Morris International by 11.3% during the second quarter. Alerus Financial NA now owns 87,413 shares of the company’s stock worth $7,058,000 after purchasing an additional 8,897 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Philip Morris International by 11.2% during the second quarter. Envestnet Asset Management Inc. now owns 201,092 shares of the company’s stock worth $16,235,000 after purchasing an additional 20,196 shares during the last quarter. Zacks Investment Management increased its position in Philip Morris International by 7.4% during the second quarter. Zacks Investment Management now owns 527,234 shares of the company’s stock worth $42,569,000 after purchasing an additional 36,303 shares during the last quarter. IMA Wealth Inc. acquired a new stake in Philip Morris International during the second quarter worth about $149,000. Finally, Jupiter Asset Management Ltd. increased its position in Philip Morris International by 102.3% during the second quarter. Jupiter Asset Management Ltd. now owns 72,816 shares of the company’s stock worth $5,879,000 after purchasing an additional 36,816 shares during the last quarter. 72.76% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently issued reports on PM. ValuEngine upgraded shares of Philip Morris International from a “strong sell” rating to a “sell” rating in a research report on Monday, July 30th. Zacks Investment Research cut shares of Philip Morris International from a “hold” rating to a “sell” rating in a research report on Monday, September 24th. Societe Generale set a $95.00 price objective on shares of Philip Morris International and gave the stock a “hold” rating in a research report on Monday, October 22nd. Stifel Nicolaus cut their price objective on shares of Philip Morris International from $100.00 to $93.00 and set a “buy” rating for the company in a research report on Friday, July 20th. Finally, JPMorgan Chase & Co. cut shares of Philip Morris International from an “overweight” rating to a “neutral” rating in a research report on Friday, July 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $98.08.
Shares of PM opened at $89.55 on Tuesday. Philip Morris International Inc. has a 1-year low of $76.21 and a 1-year high of $111.25. The stock has a market cap of $137.96 billion, a price-to-earnings ratio of 18.16, a P/E/G ratio of 2.03 and a beta of 0.58.
Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Thursday, October 18th. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.16. Philip Morris International had a net margin of 8.20% and a negative return on equity of 78.80%. The business had revenue of $7.50 billion during the quarter, compared to analysts’ expectations of $7.16 billion. During the same period last year, the business earned $1.27 earnings per share. The business’s revenue for the quarter was up .4% on a year-over-year basis. Equities research analysts anticipate that Philip Morris International Inc. will post 5.01 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Wednesday, September 26th were given a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date of this dividend was Tuesday, September 25th. Philip Morris International’s dividend payout ratio is presently 92.49%.
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Philip Morris International 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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