Tradition Capital Management LLC lessened its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 7.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,181 shares of the company’s stock after selling 687 shares during the quarter. Tradition Capital Management LLC owned approximately 591.10% of Philip Morris International worth $1,019,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Sunbelt Securities Inc. acquired a new stake in Philip Morris International in the 3rd quarter valued at $1,199,000. Jaffetilchin Investment Partners LLC acquired a new stake in Philip Morris International in the 3rd quarter valued at $211,000. Morgan Dempsey Capital Management LLC increased its holdings in Philip Morris International by 6.5% in the 3rd quarter. Morgan Dempsey Capital Management LLC now owns 49,197 shares of the company’s stock valued at $5,457,000 after purchasing an additional 3,002 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Philip Morris International by 3.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,683,502 shares of the company’s stock valued at $297,896,000 after purchasing an additional 85,568 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in Philip Morris International by 2.1% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 166,012 shares of the company’s stock valued at $18,429,000 after purchasing an additional 3,390 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on PM. Zacks Investment Research downgraded Philip Morris International from a “hold” rating to a “sell” rating in a report on Monday, December 11th. Piper Jaffray Companies set a $130.00 target price on Philip Morris International and gave the company a “buy” rating in a research note on Thursday, November 16th. Wells Fargo & Co restated an “outperform” rating and set a $135.00 target price (down from $140.00) on shares of Philip Morris International in a research note on Wednesday, November 15th. Jefferies Group restated a “hold” rating and set a $114.00 target price on shares of Philip Morris International in a research note on Friday, October 20th. Finally, Bank of America reduced their price target on shares of Philip Morris International from $124.00 to $121.00 and set a “neutral” rating on the stock in a research report on Friday, October 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $124.23.
Shares of Philip Morris International Inc. (NYSE:PM) opened at $104.30 on Friday. The firm has a market capitalization of $162,000.00, a P/E ratio of 23.02, a PEG ratio of 1.88 and a beta of 0.89. The company has a current ratio of 1.13, a quick ratio of 0.68 and a debt-to-equity ratio of -2.91. Philip Morris International Inc. has a twelve month low of $89.97 and a twelve month high of $123.55.
Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, October 19th. The company reported $1.27 EPS for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.11). Philip Morris International had a net margin of 9.32% and a negative return on equity of 67.59%. The company had revenue of $7.50 billion for the quarter, compared to analyst estimates of $7.75 billion. During the same quarter in the prior year, the business earned $1.25 EPS. Philip Morris International’s revenue was up 7.4% compared to the same quarter last year. sell-side analysts forecast that Philip Morris International Inc. will post 4.75 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 11th. Shareholders of record on Thursday, December 21st will be given a $1.07 dividend. The ex-dividend date is Wednesday, December 20th. This represents a $4.28 annualized dividend and a yield of 4.10%. Philip Morris International’s dividend payout ratio (DPR) is 94.48%.
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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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