Sumitomo Mitsui Asset Management Company LTD lowered its stake in shares of Philip Morris International Inc. (NYSE:PM) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 325,215 shares of the company’s stock after selling 4,674 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Philip Morris International were worth $36,102,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Guidant Wealth Advisors lifted its position in shares of Philip Morris International by 25.5% during the second quarter. Guidant Wealth Advisors now owns 939 shares of the company’s stock worth $110,000 after acquiring an additional 191 shares in the last quarter. Vantage Investment Advisors LLC increased its holdings in shares of Philip Morris International by 1.0% in the second quarter. Vantage Investment Advisors LLC now owns 1,033 shares of the company’s stock worth $121,000 after purchasing an additional 10 shares during the period. Acropolis Investment Management LLC increased its holdings in shares of Philip Morris International by 0.5% in the second quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock worth $123,000 after purchasing an additional 5 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in shares of Philip Morris International by 13.9% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,230 shares of the company’s stock worth $144,000 after purchasing an additional 150 shares during the period. Finally, Mountain Capital Investment Advisors Inc bought a new position in shares of Philip Morris International in the second quarter worth $145,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.
Several research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Philip Morris International from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $130.00 price target on shares of Philip Morris International in a report on Sunday, October 22nd. Goldman Sachs Group raised shares of Philip Morris International from a “buy” rating to a “conviction-buy” rating and set a $135.00 price target on the stock in a report on Thursday, September 28th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $140.00 price target on shares of Philip Morris International in a report on Tuesday, October 10th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $120.00 price target on shares of Philip Morris International in a report on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $124.23.
Philip Morris International (NYSE:PM) last released its earnings results on Thursday, October 19th. The company reported $1.27 EPS for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.11). The firm had revenue of $7.50 billion during 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 firm’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.25 EPS. equities analysts forecast that Philip Morris International Inc. will post 4.75 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 11th. Investors of record on Thursday, December 21st will be paid a $1.07 dividend. The ex-dividend date of this dividend is Wednesday, December 20th. This represents a $4.28 dividend on an annualized basis and a yield of 4.11%. Philip Morris International’s dividend payout ratio is presently 94.48%.
In related news, Chairman Louis C. Camilleri sold 108,979 shares of the 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.23% of the stock is owned by corporate insiders.
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Philip Morris International 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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