Comerica Bank cut its holdings in shares of Philip Morris International Inc (NYSE:PM) by 1.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 495,451 shares of the company’s stock after selling 9,804 shares during the period. Comerica Bank’s holdings in Philip Morris International were worth $58,904,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wedbush Securities Inc. increased its holdings in shares of Philip Morris International by 28.0% during the second quarter. Wedbush Securities Inc. now owns 18,832 shares of the company’s stock worth $2,212,000 after buying an additional 4,123 shares in the last quarter. Suffolk Capital Management LLC acquired a new position in shares of Philip Morris International during the second quarter worth $12,928,000. HighTower Advisors LLC increased its holdings in shares of Philip Morris International by 1.4% during the first quarter. HighTower Advisors LLC now owns 514,313 shares of the company’s stock worth $58,076,000 after buying an additional 7,050 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Philip Morris International by 42.0% during the first quarter. Canada Pension Plan Investment Board now owns 2,091,110 shares of the company’s stock worth $236,086,000 after buying an additional 618,100 shares in the last quarter. Finally, LMR Partners LLP increased its holdings in shares of Philip Morris International by 274.0% during the second quarter. LMR Partners LLP now owns 21,391 shares of the company’s stock worth $2,512,000 after buying an additional 15,671 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.
In other Philip Morris International news, Chairman Louis C. Camilleri sold 108,979 shares of the business’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $108.38, for a total value of $11,811,144.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Drago Azinovic sold 14,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $116.00, for a total transaction of $1,624,000.00. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.
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Shares of Philip Morris International Inc (PM) opened at 105.94 on Monday. The company has a 50-day moving average price of $112.57 and a 200-day moving average price of $115.50. Philip Morris International Inc has a 12-month low of $86.78 and a 12-month high of $123.55. The firm has a market capitalization of $164.54 billion, a P/E ratio of 23.47 and a beta of 0.93.
Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, October 19th. The company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.11). The business had revenue of $7.50 billion during the quarter, compared to the consensus estimate of $7.75 billion. Philip Morris International had a negative return on equity of 67.59% and a net margin of 9.32%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.25 earnings per share. Equities analysts predict that Philip Morris International Inc will post $4.75 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Wednesday, September 27th were paid a $1.07 dividend. The ex-dividend date was Tuesday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.04. This represents a $4.28 annualized dividend and a yield of 4.04%. Philip Morris International’s payout ratio is currently 94.48%.
PM has been the subject of several research analyst reports. Bank of America Corporation upped their price target on shares of Philip Morris International from $123.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, July 10th. Zacks Investment Research upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a report on Tuesday, July 11th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $133.00 price target (down from $134.00) on shares of Philip Morris International in a report on Saturday, July 22nd. TheStreet upgraded shares of Philip Morris International from a “c+” rating to a “b-” rating in a report on Thursday, July 20th. Finally, Citigroup Inc. reiterated a “neutral” rating and set a $125.00 price target (down from $128.00) on shares of Philip Morris International in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, six have assigned 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 $124.62.
Philip Morris International Company Profile
Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.
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