First Hawaiian Bank lifted its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 13.7% during the 1st quarter, HoldingsChannel reports. The firm owned 22,918 shares of the company’s stock after purchasing an additional 2,760 shares during the quarter. First Hawaiian Bank’s holdings in Philip Morris International were worth $2,026,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the stock. Bank of New York Mellon Corp boosted its holdings in Philip Morris International by 266,796.4% in the third quarter. Bank of New York Mellon Corp now owns 16,985,289 shares of the company’s stock worth $1,384,981,000 after acquiring an additional 16,978,925 shares in the last quarter. CI Investments Inc. raised its stake in shares of Philip Morris International by 27.5% in the third quarter. CI Investments Inc. now owns 299,454 shares of the company’s stock worth $24,417,000 after purchasing an additional 64,508 shares during the last quarter. Man Group plc raised its stake in shares of Philip Morris International by 44.6% in the third quarter. Man Group plc now owns 233,667 shares of the company’s stock worth $19,054,000 after purchasing an additional 72,054 shares during the last quarter. Putnam Investments LLC raised its stake in shares of Philip Morris International by 16.2% in the third quarter. Putnam Investments LLC now owns 23,441 shares of the company’s stock worth $1,911,000 after purchasing an additional 3,262 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Philip Morris International by 25.1% in the third quarter. Thrivent Financial for Lutherans now owns 181,402 shares of the company’s stock worth $14,791,000 after purchasing an additional 36,357 shares during the last quarter. Institutional investors own 73.53% of the company’s stock.
In related news, CEO Andre Calantzopoulos sold 50,000 shares of the stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $84.76, for a total transaction of $4,238,000.00. Following the completion of the sale, the chief executive officer now directly owns 844,901 shares of the company’s stock, valued at $71,613,808.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.
Several brokerages have recently commented on PM. ValuEngine downgraded Philip Morris International from a “hold” rating to a “sell” rating in a research note on Tuesday, April 9th. Zacks Investment Research downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. Morgan Stanley increased their price objective on Philip Morris International from $88.00 to $94.00 and gave the stock an “overweight” rating in a research note on Monday. Bank of America reissued a “sell” rating and issued a $74.00 price objective on shares of Philip Morris International in a research note on Tuesday, March 26th. Finally, Citigroup increased their price objective on Philip Morris International from $90.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $92.43.
Shares of PM opened at $86.21 on Wednesday. The company has a market cap of $134.09 billion, a P/E ratio of 16.90, a price-to-earnings-growth ratio of 1.93 and a beta of 0.95. Philip Morris International Inc. has a 12 month low of $64.67 and a 12 month high of $103.55.
Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, February 7th. The company reported $1.25 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.09. The company had revenue of $7.50 billion during the quarter, compared to the consensus estimate of $7.46 billion. Philip Morris International had a negative return on equity of 76.82% and a net margin of 9.90%. Philip Morris International’s revenue was down 9.6% on a year-over-year basis. During the same period last year, the business posted $1.32 earnings per share. As a group, research analysts anticipate that Philip Morris International Inc. will post 5.26 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Tuesday, March 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 5.29%. The ex-dividend date was Monday, March 25th. Philip Morris International’s payout ratio is 89.41%.
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Philip Morris International Company Profile
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.
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