Citizens Financial Group Inc RI reduced its position in shares of Philip Morris International Inc. (NYSE:PM) by 7.0% in the 3rd quarter, Holdings Channel reports. The firm owned 9,388 shares of the company’s stock after selling 709 shares during the quarter. Citizens Financial Group Inc RI’s holdings in Philip Morris International were worth $765,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its stake in Philip Morris International by 1.7% during the first quarter. Principal Financial Group Inc. now owns 2,849,402 shares of the company’s stock worth $283,231,000 after buying an additional 47,965 shares during the period. Empirical Finance LLC purchased a new position in Philip Morris International during the second quarter worth about $213,000. Caledonia Investments PLC boosted its stake in Philip Morris International by 36.1% during the second quarter. Caledonia Investments PLC now owns 445,000 shares of the company’s stock worth $35,929,000 after buying an additional 118,000 shares during the period. Fulton Bank N.A. boosted its stake in Philip Morris International by 16.2% during the second quarter. Fulton Bank N.A. now owns 44,891 shares of the company’s stock worth $3,624,000 after buying an additional 6,269 shares during the period. Finally, Hexavest Inc. purchased a new position in Philip Morris International during the second quarter worth about $41,499,000. Hedge funds and other institutional investors own 72.76% of the company’s stock.
NYSE PM opened at $88.77 on Wednesday. Philip Morris International Inc. has a one year low of $76.21 and a one year high of $111.25. The company has a market capitalization of $137.96 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 2.03 and a beta of 0.58.
Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, October 18th. The company reported $1.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 analyst estimates of $7.16 billion. During the same quarter last year, the firm posted $1.27 earnings per share. The business’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, sell-side analysts expect that Philip Morris International Inc. will post 5.01 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Wednesday, September 26th were paid a $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 5.14%. The ex-dividend date was Tuesday, September 25th. Philip Morris International’s payout ratio is 92.49%.
Several brokerages have weighed in on PM. Zacks Investment Research raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. Societe Generale set a $95.00 target price on shares of Philip Morris International and gave the stock a “hold” rating in a research note on Monday, October 22nd. Citigroup increased their target price on shares of Philip Morris International from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, October 19th. ValuEngine raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a research note on Thursday, October 18th. Finally, Sanford C. Bernstein began coverage on shares of Philip Morris International in a research note on Tuesday, October 16th. They set an “outperform” rating and a $97.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $98.08.
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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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