Parkside Financial Bank & Trust boosted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 4.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,616 shares of the company’s stock after purchasing an additional 387 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Philip Morris International were worth $654,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Bath Savings Trust Co raised its position in shares of Philip Morris International by 7.8% during the second quarter. Bath Savings Trust Co now owns 4,706 shares of the company’s stock worth $369,000 after purchasing an additional 342 shares during the period. Thomasville National Bank raised its position in shares of Philip Morris International by 3.3% during the second quarter. Thomasville National Bank now owns 26,808 shares of the company’s stock worth $2,105,000 after purchasing an additional 847 shares during the period. Fulton Bank N.A. raised its position in shares of Philip Morris International by 2.4% during the second quarter. Fulton Bank N.A. now owns 49,700 shares of the company’s stock worth $3,903,000 after purchasing an additional 1,169 shares during the period. Flossbach von Storch AG Zurich raised its position in shares of Philip Morris International by 4.8% during the second quarter. Flossbach von Storch AG Zurich now owns 112,650 shares of the company’s stock worth $8,846,000 after purchasing an additional 5,125 shares during the period. Finally, Cooper Financial Group raised its position in shares of Philip Morris International by 48.8% during the second quarter. Cooper Financial Group now owns 4,380 shares of the company’s stock worth $344,000 after purchasing an additional 1,437 shares during the period. Institutional investors and hedge funds own 74.17% of the company’s stock.
Shares of PM stock traded up $1.32 on Friday, reaching $83.57. 5,186,003 shares of the company’s stock traded hands, compared to its average volume of 5,853,548. Philip Morris International Inc. has a 12-month low of $64.67 and a 12-month high of $92.74. The company has a market capitalization of $131.00 billion, a P/E ratio of 16.39, a price-to-earnings-growth ratio of 2.05 and a beta of 1.00. The business’s 50 day moving average price is $78.81 and its two-hundred day moving average price is $80.34.
Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, October 17th. The company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.08. Philip Morris International had a negative return on equity of 82.33% and a net margin of 9.59%. The firm had revenue of $7.64 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter in the previous year, the company posted $1.44 earnings per share. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts expect that Philip Morris International Inc. will post 5.23 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Wednesday, September 25th were paid a $1.17 dividend. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $4.68 dividend on an annualized basis and a yield of 5.60%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.14. Philip Morris International’s payout ratio is 91.76%.
A number of equities research analysts have recently issued reports on the company. Credit Suisse Group set a $80.00 target price on Philip Morris International and gave the stock a “sell” rating in a research report on Wednesday, August 28th. Barclays raised Philip Morris International from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $82.00 to $100.00 in a research report on Friday, July 19th. ValuEngine raised Philip Morris International from a “sell” rating to a “hold” rating in a research report on Saturday, October 19th. Stifel Nicolaus reiterated a “buy” rating on shares of Philip Morris International in a report on Tuesday, October 15th. Finally, Wells Fargo & Co lowered their price target on Philip Morris International from $102.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $92.27.
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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