American Research & Management Co. lessened its stake in Philip Morris International Inc. (NYSE:PM) by 3.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,873 shares of the company’s stock after selling 1,681 shares during the quarter. American Research & Management Co.’s holdings in Philip Morris International were worth $3,716,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership grew its holdings in Philip Morris International by 18.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 64,900 shares of the company’s stock valued at $4,867,000 after purchasing an additional 10,097 shares during the last quarter. Wealth Alliance grew its stake in Philip Morris International by 28.1% in the 3rd quarter. Wealth Alliance now owns 21,004 shares of the company’s stock valued at $1,575,000 after acquiring an additional 4,606 shares during the last quarter. Polar Capital LLP purchased a new position in Philip Morris International during the 3rd quarter valued at about $4,649,000. ExodusPoint Capital Management LP purchased a new stake in shares of Philip Morris International in the third quarter valued at about $2,960,000. Finally, Lombard Odier Asset Management Switzerland SA acquired a new stake in shares of Philip Morris International in the third quarter valued at approximately $460,000. Hedge funds and other institutional investors own 74.18% of the company’s stock.
PM traded up $0.83 on Thursday, reaching $89.11. 27,106 shares of the company’s stock were exchanged, compared to its average volume of 4,796,925. The company’s 50 day moving average is $87.43 and its 200-day moving average is $81.18. The company has a market cap of $138.88 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 2.27 and a beta of 0.77. Philip Morris International Inc. has a twelve month low of $66.85 and a twelve month high of $91.25.
Philip Morris International (NYSE:PM) last posted its earnings results on Thursday, February 4th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.05. Philip Morris International had a net margin of 10.07% and a negative return on equity of 78.02%. The firm had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter in the prior year, the company earned $1.22 EPS. The company’s revenue was down 3.5% on a year-over-year basis. As a group, equities research analysts forecast that Philip Morris International Inc. will post 5.13 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 9th. Shareholders of record on Monday, March 22nd will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 5.39%. The ex-dividend date is Friday, March 19th. Philip Morris International’s dividend payout ratio (DPR) is 92.49%.
In other Philip Morris International news, VP Marian Salzman sold 2,000 shares of the stock in a transaction that occurred on Friday, February 5th. The shares were sold at an average price of $84.39, for a total value of $168,780.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.22% of the stock is owned by company insiders.
A number of research firms recently issued reports on PM. Zacks Investment Research raised Philip Morris International from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research note on Tuesday, January 12th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price objective on Philip Morris International from $100.00 to $105.00 in a research report on Friday, January 8th. Morgan Stanley lifted their price objective on Philip Morris International from $94.00 to $103.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 3rd. Sanford C. Bernstein began coverage on shares of Philip Morris International in a report on Tuesday, January 19th. They issued a “market perform” rating and a $92.00 target price on the stock. Finally, Stifel Nicolaus upped their target price on shares of Philip Morris International from $90.00 to $100.00 in a report on Friday, February 5th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Philip Morris International currently has an average rating of “Buy” and a consensus target price of $97.64.
About Philip Morris International
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, 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 Creations, HEETS Dimensions, HEETS Marlboro, HEETS FROM MARLBORO, Marlboro Dimensions, Marlboro HeatSticks, and Parliament HeatSticks brands, as well as under the Fiit and Miix licensed brands.
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