Philip Morris International Inc. (PM) Position Lowered by Comerica Bank

Comerica Bank lessened its position in shares of Philip Morris International Inc. (NYSE:PM) by 0.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 490,919 shares of the company’s stock after selling 4,532 shares during the period. Comerica Bank’s holdings in Philip Morris International were worth $51,399,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PM. Green Square Capital LLC bought a new position in shares of Philip Morris International during the 1st quarter worth approximately $240,000. Kimelman & Baird LLC raised its stake in shares of Philip Morris International by 6.8% during the 1st quarter. Kimelman & Baird LLC now owns 2,515 shares of the company’s stock worth $284,000 after acquiring an additional 160 shares in the last quarter. Indiana Trust & Investment Management CO bought a new position in shares of Philip Morris International during the 2nd quarter worth approximately $206,000. Stillwater Investment Management LLC raised its stake in shares of Philip Morris International by 0.8% during the 2nd quarter. Stillwater Investment Management LLC now owns 2,956 shares of the company’s stock worth $347,000 after acquiring an additional 23 shares in the last quarter. Finally, Catawba Capital Management VA raised its stake in shares of Philip Morris International by 1.0% during the 2nd quarter. Catawba Capital Management VA now owns 14,027 shares of the company’s stock worth $1,647,000 after acquiring an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.

In other news, Chairman Louis C. Camilleri sold 108,979 shares of the 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.23% of the stock is owned by corporate insiders.

PM has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. Wells Fargo & Co restated an “outperform” rating and set a $140.00 price target on shares of Philip Morris International in a research note on Tuesday, October 10th. Goldman Sachs Group upgraded 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 research note on Thursday, September 28th. Piper Jaffray Companies set a $130.00 price target on shares of Philip Morris International and gave the company a “buy” rating in a research note on Thursday, November 16th. Finally, Bank of America cut 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 note on Friday, October 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $124.23.

Shares of Philip Morris International Inc. (PM) opened at $105.63 on Thursday. The firm has a market cap of $164,060.00, a price-to-earnings ratio of 23.32, a PEG ratio of 1.88 and a beta of 0.89. Philip Morris International Inc. has a 52 week low of $89.97 and a 52 week high of $123.55. The company has a quick ratio of 0.68, a current ratio of 1.13 and a debt-to-equity ratio of -2.91.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, October 19th. The company reported $1.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.11). The business 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 firm’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.25 EPS. research analysts forecast that Philip Morris International Inc. will post 4.75 EPS for the current fiscal year.

The firm 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 of this dividend is Wednesday, December 20th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.05%. Philip Morris International’s payout ratio is currently 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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