KBC Group NV reduced its holdings in shares of Philip Morris International Inc (NYSE:PM) by 4.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 264,953 shares of the company’s stock after selling 13,305 shares during the period. KBC Group NV’s holdings in Philip Morris International were worth $31,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in PM. Amerigo Asset Management acquired a new position in Philip Morris International during the 2nd quarter valued at about $209,061,000. Canada Pension Plan Investment Board increased its position in Philip Morris International by 60.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,353,310 shares of the company’s stock valued at $393,846,000 after buying an additional 1,262,200 shares in the last quarter. C WorldWide Group Holding A S increased its position in Philip Morris International by 70.9% during the 1st quarter. C WorldWide Group Holding A S now owns 3,027,193 shares of the company’s stock valued at $341,770,000 after buying an additional 1,255,776 shares in the last quarter. Swiss National Bank increased its position in Philip Morris International by 26.2% during the 1st quarter. Swiss National Bank now owns 5,726,731 shares of the company’s stock valued at $646,548,000 after buying an additional 1,189,800 shares in the last quarter. Finally, State Street Corp increased its position in Philip Morris International by 1.8% during the 1st quarter. State Street Corp now owns 59,926,871 shares of the company’s stock valued at $6,766,079,000 after buying an additional 1,058,408 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors.
Several research analysts recently issued reports on the company. Zacks Investment Research raised Philip Morris International from a “sell” rating to a “hold” rating in a research report on Monday. Piper Jaffray Companies reissued a “buy” rating and issued a $130.00 price objective on shares of Philip Morris International in a report on Sunday, October 22nd. Jefferies Group LLC reissued a “hold” rating and issued a $114.00 price objective on shares of Philip Morris International in a report on Friday, October 20th. Bank of America Corporation cut their price objective on Philip Morris International from $124.00 to $121.00 and set a “neutral” rating on the stock in a report on Friday, October 20th. Finally, Societe Generale raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, October 20th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Philip Morris International presently has an average rating of “Buy” and an average target price of $124.62.
Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, October 19th. The company reported $1.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.11). The company had revenue of $7.50 billion during the quarter, compared to analyst estimates 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 was up 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Investors of record on Wednesday, September 27th were given a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend was Tuesday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.04. Philip Morris International’s payout ratio is 94.48%.
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In related news, Chairman Louis C. Camilleri sold 108,979 shares of the business’s stock in a transaction dated 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 legal filing with the SEC, which is available at the SEC website. Also, insider Drago Azinovic sold 14,000 shares of the business’s stock in a transaction dated 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.
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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