Financial Advocates Investment Management trimmed its stake in Philip Morris International Inc. (NYSE:PM) by 6.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,966 shares of the company’s stock after selling 443 shares during the quarter. Financial Advocates Investment Management’s holdings in Philip Morris International were worth $565,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PM. Integrated Advisors Network LLC increased its stake in Philip Morris International by 6.7% in the second quarter. Integrated Advisors Network LLC now owns 8,602 shares of the company’s stock valued at $852,000 after purchasing an additional 543 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Philip Morris International by 2.3% in the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 54,823 shares of the company’s stock valued at $5,434,000 after purchasing an additional 1,219 shares during the last quarter. Sei Investments Co. increased its stake in Philip Morris International by 8.0% in the second quarter. Sei Investments Co. now owns 387,794 shares of the company’s stock valued at $38,461,000 after purchasing an additional 28,866 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Philip Morris International by 3.7% in the second quarter. Daiwa Securities Group Inc. now owns 131,340 shares of the company’s stock valued at $13,017,000 after purchasing an additional 4,714 shares during the last quarter. Finally, Summit Financial LLC acquired a new position in Philip Morris International in the second quarter valued at $362,000. 74.90% of the stock is owned by institutional investors.
Several equities research analysts have commented on the company. Morgan Stanley dropped their price target on Philip Morris International from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Thursday, December 2nd. Barclays dropped their price target on Philip Morris International from $116.00 to $113.00 and set an “overweight” rating for the company in a research note on Monday, November 29th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $105.80.
Shares of NYSE PM opened at $94.26 on Friday. Philip Morris International Inc. has a 1-year low of $78.34 and a 1-year high of $106.51. The business has a 50-day moving average of $92.43 and a 200-day moving average of $97.28. The company has a market capitalization of $146.75 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 1.96 and a beta of 0.86.
Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Monday, October 18th. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.03. The firm had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $7.93 billion. Philip Morris International had a negative return on equity of 98.17% and a net margin of 11.11%. Philip Morris International’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.42 earnings per share. Sell-side analysts expect that Philip Morris International Inc. will post 6.04 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 10th. Investors of record on Thursday, December 23rd will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date is Wednesday, December 22nd. Philip Morris International’s dividend payout ratio is currently 86.81%.
Philip Morris International Profile
Philip Morris International, Inc is a holding company. It engages in manufacturing and sale of cigarettes, tobacco and nicotine-containing products. It operates through the following geographical segments: European Union, Eastern Europe, Middles East & Africa, South & Southeast Asia, East Asia & Australia and Latin America & Canada.
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