Rehmann Capital Advisory Group lowered its stake in Philip Morris International Inc. (NYSE:PM) by 15.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,036 shares of the company’s stock after selling 1,653 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Philip Morris International were worth $737,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of PM. Vanguard Group Inc. grew its position in shares of Philip Morris International by 1.3% during the third quarter. Vanguard Group Inc. now owns 118,890,424 shares of the company’s stock worth $9,694,325,000 after purchasing an additional 1,516,211 shares in the last quarter. Capital Research Global Investors grew its position in shares of Philip Morris International by 11.0% during the third quarter. Capital Research Global Investors now owns 46,383,194 shares of the company’s stock worth $3,782,086,000 after purchasing an additional 4,613,349 shares in the last quarter. Capital International Investors grew its position in shares of Philip Morris International by 325.0% during the third quarter. Capital International Investors now owns 33,897,955 shares of the company’s stock worth $2,764,039,000 after purchasing an additional 25,922,397 shares in the last quarter. Morgan Stanley grew its position in shares of Philip Morris International by 5.0% during the third quarter. Morgan Stanley now owns 23,865,004 shares of the company’s stock worth $1,945,952,000 after purchasing an additional 1,126,960 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Philip Morris International by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 17,570,730 shares of the company’s stock worth $1,418,660,000 after purchasing an additional 258,809 shares in the last quarter. 73.32% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on PM shares. Zacks Investment Research cut Philip Morris International from a “hold” rating to a “sell” rating in a research report on Monday, September 24th. Jefferies Financial Group cut Philip Morris International from a “buy” rating to a “hold” rating and set a $80.00 target price for the company. in a research report on Friday, August 24th. ValuEngine upgraded Philip Morris International from a “strong sell” rating to a “sell” rating in a report on Friday, September 21st. Citigroup raised their price target on Philip Morris International from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, September 21st. Finally, Societe Generale set a $95.00 price target on Philip Morris International and gave the company a “hold” rating in a report on Monday, October 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $95.73.
In other Philip Morris International news, Director Louis C. Camilleri sold 59,495 shares of the firm’s stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of $86.98, for a total transaction of $5,174,875.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.22% of the company’s stock.
NYSE PM opened at $84.56 on Friday. The company has a market cap of $132.59 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.95 and a beta of 0.60. Philip Morris International Inc. has a 1-year low of $76.21 and a 1-year high of $111.25.
Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, October 18th. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.16. The business had revenue of $7.50 billion during the quarter, compared to analysts’ expectations of $7.16 billion. Philip Morris International had a negative return on equity of 78.80% and a net margin of 8.20%. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter last year, the business posted $1.27 EPS. As a group, equities research analysts expect that Philip Morris International Inc. will post 5.01 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 11th. Shareholders of record on Thursday, December 20th will be issued a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 5.39%. The ex-dividend date is Wednesday, December 19th. Philip Morris International’s dividend payout ratio is presently 92.49%.
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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.
Further Reading: Balance Sheet
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