Hyman Charles D reduced its stake in shares of Philip Morris International Inc. (NYSE:PM) by 1.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 85,214 shares of the company’s stock after selling 1,090 shares during the quarter. Hyman Charles D’s holdings in Philip Morris International were worth $6,692,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Brand Asset Management Group Inc. grew its stake in shares of Philip Morris International by 34.9% during the second quarter. Brand Asset Management Group Inc. now owns 472 shares of the company’s stock valued at $37,000 after buying an additional 122 shares during the last quarter. ZWJ Investment Counsel Inc. grew its stake in shares of Philip Morris International by 66.2% during the second quarter. ZWJ Investment Counsel Inc. now owns 18,136 shares of the company’s stock valued at $1,424,000 after buying an additional 7,222 shares during the last quarter. M&R Capital Management Inc. grew its stake in shares of Philip Morris International by 112.4% during the second quarter. M&R Capital Management Inc. now owns 9,901 shares of the company’s stock valued at $777,000 after buying an additional 5,240 shares during the last quarter. Logan Capital Management Inc. grew its stake in shares of Philip Morris International by 8.7% during the second quarter. Logan Capital Management Inc. now owns 220,639 shares of the company’s stock valued at $17,326,000 after buying an additional 17,586 shares during the last quarter. Finally, Westside Investment Management Inc. bought a new position in shares of Philip Morris International during the second quarter valued at approximately $312,000. 73.48% of the stock is currently owned by institutional investors.
Shares of NYSE PM traded up $1.72 during trading hours on Friday, reaching $84.17. The stock had a trading volume of 6,109,071 shares, compared to its average volume of 4,926,347. The firm has a market cap of $128.28 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 2.02 and a beta of 0.95. The company has a fifty day moving average price of $81.44. Philip Morris International Inc. has a 52-week low of $64.67 and a 52-week high of $92.74.
Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Thursday, July 18th. The company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.13. The firm had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.42 billion. Philip Morris International had a negative return on equity of 80.96% and a net margin of 10.03%. Philip Morris International’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.41 earnings per share. Equities analysts expect that Philip Morris International Inc. will post 5.21 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 21st were issued a $1.14 dividend. The ex-dividend date was Thursday, June 20th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.42%. Philip Morris International’s payout ratio is 89.41%.
A number of research analysts have recently commented on PM shares. Zacks Investment Research raised Philip Morris International from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Wells Fargo & Co set a $102.00 target price on Philip Morris International and gave the company a “buy” rating in a research note on Friday, July 19th. Societe Generale raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. Bank of America raised Philip Morris International from an “underperform” rating to a “neutral” rating and upped their target price for the company from $81.00 to $94.00 in a research note on Friday, May 17th. Finally, ValuEngine lowered Philip Morris International from a “hold” rating to a “sell” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. Philip Morris International currently has an average rating of “Hold” and an average target price of $93.92.
In other Philip Morris International news, insider Mario Masseroli sold 1,100 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $87.42, for a total transaction of $96,162.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael R. Kunst bought 500 shares of the stock in a transaction on Wednesday, May 29th. The shares were bought at an average price of $80.74 per share, with a total value of $40,370.00. The disclosure for this purchase can be found here. 0.21% of the stock is currently owned by insiders.
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.
Recommended Story: Hedge Funds
Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM).
Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.