Canal Insurance CO continued to hold its stake in Philip Morris International Inc (NYSE:PM) during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,000 shares of the company’s stock at the close of the second quarter. Canal Insurance CO’s holdings in Philip Morris International were worth $352,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Guidant Wealth Advisors lifted its holdings in Philip Morris International by 25.5% in the 2nd quarter. Guidant Wealth Advisors now owns 939 shares of the company’s stock valued at $110,000 after purchasing an additional 191 shares in the last quarter. Welch Investments LLC purchased a new position in Philip Morris International in the 1st quarter valued at $113,000. American Beacon Advisors Inc. purchased a new position in Philip Morris International in the 1st quarter valued at $114,000. Acropolis Investment Management LLC lifted its holdings in Philip Morris International by 0.5% in the 2nd quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock valued at $123,000 after purchasing an additional 5 shares in the last quarter. Finally, Donald L. Hagan LLC acquired a new stake in shares of Philip Morris International in the 2nd quarter worth $202,000. Institutional investors own 72.20% of the company’s stock.
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In related news, Chairman Louis C. Camilleri sold 108,979 shares of the stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $108.38, for a total transaction of $11,811,144.02. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Drago Azinovic sold 14,000 shares of the stock in a transaction dated Wednesday, August 30th. The stock was 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. Corporate insiders own 0.23% 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). Philip Morris International had a negative return on equity of 67.59% and a net margin of 9.32%. The business had revenue of $7.50 billion for the quarter, compared to analysts’ expectations of $7.75 billion. During the same quarter last year, the company posted $1.25 earnings per share. The business’s quarterly revenue was up 7.4% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Investors 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 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 4.16%. Philip Morris International’s dividend payout ratio is 94.48%.
PM has been the subject of a number of recent research reports. TheStreet raised Philip Morris International from a “c+” rating to a “b-” rating in a research note on Thursday, July 20th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $133.00 target price (down from $134.00) on shares of Philip Morris International in a research note on Saturday, July 22nd. Zacks Investment Research raised Philip Morris International from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a research note on Tuesday, July 11th. Cowen and Company reaffirmed a “buy” rating and issued a $135.00 target price on shares of Philip Morris International in a research note on Tuesday, August 22nd. Finally, Piper Jaffray Companies set a $134.00 target price on Philip Morris International and gave the stock a “buy” rating in a research note on Saturday, August 19th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus 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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