Palisades Hudson Asset Management L.P. Continues to Hold Holdings in Philip Morris International Inc (PM)

Palisades Hudson Asset Management L.P. maintained its position in shares of Philip Morris International Inc (NYSE:PM) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,778 shares of the company’s stock at the close of the second quarter. Palisades Hudson Asset Management L.P.’s holdings in Philip Morris International were worth $444,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Guidant Wealth Advisors grew its position in Philip Morris International by 25.5% during the second quarter. Guidant Wealth Advisors now owns 939 shares of the company’s stock valued at $110,000 after acquiring an additional 191 shares during the last quarter. Welch Investments LLC bought a new position in Philip Morris International during the first quarter valued at approximately $113,000. American Beacon Advisors Inc. bought a new position in Philip Morris International during the first quarter valued at approximately $114,000. Acropolis Investment Management LLC grew its position in Philip Morris International by 0.5% during the second quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock valued at $123,000 after acquiring an additional 5 shares during the last quarter. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC grew its position in Philip Morris International by 75.0% during the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,750 shares of the company’s stock valued at $198,000 after acquiring an additional 750 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Philip Morris International (NYSE:PM) last released its earnings results on Thursday, October 19th. The company reported $1.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.11). The company had revenue of $7.50 billion for the quarter, compared to the consensus estimate of $7.75 billion. Philip Morris International had a net margin of 9.32% and a negative return on equity of 67.59%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.25 EPS.

The business also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Stockholders of record on Wednesday, September 27th were given a dividend of $1.07 per share. The ex-dividend date of this dividend was Tuesday, September 26th. This represents a $4.28 annualized dividend and a dividend yield of 4.09%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.04. Philip Morris International’s payout ratio is currently 94.48%.

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In other Philip Morris International news, Chairman Louis C. Camilleri sold 108,979 shares of the company’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $108.38, for a total value of $11,811,144.02. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Drago Azinovic sold 14,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $116.00, for a total value of $1,624,000.00. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

A number of research analysts have commented on PM shares. TheStreet upgraded shares of Philip Morris International from a “c+” rating to a “b-” rating in a research report on Thursday, July 20th. Jefferies Group LLC reduced their price target on shares of Philip Morris International from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Thursday, October 12th. Societe Generale upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Friday, October 20th. Zacks Investment Research upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a research report on Monday. 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 research report on Monday, July 24th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” 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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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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