Toronto Dominion Bank Buys 147,619 Shares of Philip Morris International Inc. (PM)

Toronto Dominion Bank grew its stake in shares of Philip Morris International Inc. (NYSE:PM) by 27.1% during the third quarter, Holdings Channel reports. The institutional investor owned 693,246 shares of the company’s stock after purchasing an additional 147,619 shares during the quarter. Toronto Dominion Bank’s holdings in Philip Morris International were worth $76,954,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of 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 purchasing an additional 2,972,929 shares during the last quarter. BlackRock Inc. grew its stake in shares of 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 purchasing an additional 2,421,533 shares during the last quarter. FMR LLC grew its stake in shares of 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 purchasing an additional 2,330,864 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Philip Morris International by 2.9% in the second quarter. Legal & General Group Plc now owns 7,422,457 shares of the company’s stock worth $871,687,000 after purchasing an additional 210,869 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Philip Morris International by 6.1% in the second quarter. Royal Bank of Canada now owns 6,954,881 shares of the company’s stock worth $816,852,000 after purchasing an additional 397,015 shares during the last quarter. 72.36% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Chairman Louis C. Camilleri sold 108,979 shares of Philip Morris International stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $108.38, for a total transaction of $11,811,144.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by company insiders.

Several analysts recently issued reports on the company. Jefferies Group cut their target price on Philip Morris International from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Thursday, October 12th. Wells Fargo & Co reissued an “outperform” rating and issued a $135.00 target price (down from $140.00) on shares of Philip Morris International in a research note on Wednesday, November 15th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $130.00 price objective on shares of Philip Morris International in a research report on Sunday, October 22nd. Zacks Investment Research raised Philip Morris International from a “sell” rating to a “hold” rating in a research report on Monday, October 30th. Finally, Goldman Sachs Group began coverage on Philip Morris International in a research report on Monday, October 2nd. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $124.23.

Shares of Philip Morris International Inc. (PM) opened at $104.89 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 0.68 and a debt-to-equity ratio of -2.91. The firm has a market capitalization of $162,920.00, a P/E ratio of 23.15, a price-to-earnings-growth ratio of 1.88 and a beta of 0.89. Philip Morris International Inc. has a 12-month low of $89.97 and a 12-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 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.11). The firm had revenue of $7.50 billion for 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 business’s revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 earnings per share. equities research analysts anticipate that Philip Morris International Inc. will post 4.75 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Thursday, December 21st will be issued a dividend of $1.07 per share. 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%.

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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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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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