CAPROCK Group Inc. raised its position in shares of Philip Morris International Inc. (NYSE:PM) by 8.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,931 shares of the company’s stock after buying an additional 890 shares during the quarter. CAPROCK Group Inc.’s holdings in Philip Morris International were worth $1,225,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Philip Morris International by 2.7% in the second quarter. Vanguard Group Inc. now owns 111,475,174 shares of the company’s stock worth $13,092,759,000 after buying an additional 2,972,929 shares during the last quarter. BlackRock Inc. increased its holdings in Philip Morris International by 2.7% in the second quarter. BlackRock Inc. now owns 91,796,829 shares of the company’s stock worth $10,781,538,000 after buying an additional 2,421,533 shares during the last quarter. FMR LLC increased its holdings in Philip Morris International by 12.5% in the second quarter. FMR LLC now owns 20,919,201 shares of the company’s stock worth $2,456,960,000 after buying an additional 2,330,864 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Philip Morris International by 57.8% in the second quarter. Alliancebernstein L.P. now owns 5,840,773 shares of the company’s stock worth $685,999,000 after buying an additional 2,139,002 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its holdings in Philip Morris International by 132.1% in the third quarter. Diamond Hill Capital Management Inc. now owns 3,284,971 shares of the company’s stock worth $364,665,000 after buying an additional 1,869,411 shares during the last quarter. 72.35% of the stock is owned by institutional investors.
A number of equities analysts recently commented on PM shares. Societe Generale upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, October 20th. Piper Jaffray Companies set a $135.00 price target on Philip Morris International and gave the company a “buy” rating in a report on Sunday, October 15th. Cowen reiterated a “buy” rating on shares of Philip Morris International in a report on Sunday, September 24th. Goldman Sachs Group began coverage on Philip Morris International in a report on Monday, October 2nd. They set a “buy” rating on the stock. Finally, Jefferies Group reiterated a “hold” rating and set a $120.00 price target on shares of Philip Morris International in a report on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $124.23.
Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Thursday, October 19th. The company reported $1.27 earnings per share (EPS) for the quarter, missing the 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 negative return on equity of 67.59% and a net margin of 9.32%. The company’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.25 EPS. equities research analysts forecast that Philip Morris International Inc. will post 4.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Thursday, December 21st will be paid a $1.07 dividend. The ex-dividend date is Wednesday, December 20th. This represents a $4.28 annualized dividend and a dividend yield of 4.08%. Philip Morris International’s payout ratio is 94.48%.
In other news, Chairman Louis C. Camilleri sold 108,979 shares of the firm’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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.23% of the company’s stock.
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About Philip Morris International
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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