Abner Herrman & Brock LLC reduced its stake in Philip Morris International Inc. (NYSE:PM) by 36.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 29,534 shares of the company’s stock after selling 17,023 shares during the period. Abner Herrman & Brock LLC’s holdings in Philip Morris International were worth $1,972,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in PM. Gulf International Bank UK Ltd boosted its position in Philip Morris International by 0.8% in the fourth quarter. Gulf International Bank UK Ltd now owns 30,545 shares of the company’s stock valued at $2,039,000 after buying an additional 250 shares in the last quarter. Cornerstone Advisors Inc. lifted its holdings in shares of Philip Morris International by 12.6% during the third quarter. Cornerstone Advisors Inc. now owns 3,143 shares of the company’s stock worth $256,000 after purchasing an additional 351 shares during the period. JGP Wealth Management LLC lifted its holdings in shares of Philip Morris International by 19.8% during the third quarter. JGP Wealth Management LLC now owns 3,041 shares of the company’s stock worth $249,000 after purchasing an additional 502 shares during the period. Lynch & Associates IN lifted its holdings in shares of Philip Morris International by 3.7% during the fourth quarter. Lynch & Associates IN now owns 15,437 shares of the company’s stock worth $1,031,000 after purchasing an additional 551 shares during the period. Finally, RB Capital Management LLC lifted its holdings in shares of Philip Morris International by 13.4% during the third quarter. RB Capital Management LLC now owns 4,941 shares of the company’s stock worth $403,000 after purchasing an additional 584 shares during the period. 72.70% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Louis C. Camilleri sold 59,495 shares of Philip Morris International stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $86.98, for a total transaction of $5,174,875.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is owned by company insiders.
NYSE PM traded up $1.07 during mid-day trading on Friday, reaching $69.22. 228,320 shares of the stock were exchanged, compared to its average volume of 8,427,811. Philip Morris International Inc. has a one year low of $64.67 and a one year high of $111.25. The company has a market capitalization of $105.57 billion, a PE ratio of 14.02, a P/E/G ratio of 1.47 and a beta of 0.86.
Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, October 18th. The company reported $1.44 earnings per share for the quarter, topping 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 the consensus estimate of $7.16 billion. During the same quarter last year, the firm earned $1.27 earnings per share. Philip Morris International’s quarterly revenue was up .4% on a year-over-year basis. As a group, analysts anticipate that Philip Morris International Inc. will post 5.01 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Investors of record on Thursday, December 20th will be paid a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a yield of 6.59%. The ex-dividend date is Wednesday, December 19th. Philip Morris International’s dividend payout ratio is presently 92.49%.
A number of equities analysts have recently commented on the stock. Citigroup lifted their price target on shares of Philip Morris International from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, October 19th. Piper Jaffray Companies set a $110.00 price target on shares of Philip Morris International and gave the stock a “buy” rating in a report on Monday, December 3rd. Morgan Stanley cut their price target on shares of Philip Morris International from $102.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday. ValuEngine lowered shares of Philip Morris International from a “hold” rating to a “sell” rating in a report on Monday, December 31st. Finally, Societe Generale set a $95.00 price target on shares of Philip Morris International and gave the stock a “hold” rating in a report on Monday, October 22nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $92.08.
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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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