Macquarie Group Ltd. trimmed its stake in shares of Philip Morris International Inc. (NYSE:PM) by 10.5% during the 3rd quarter, Holdings Channel reports. The fund owned 384,872 shares of the company’s stock after selling 45,176 shares during the quarter. Macquarie Group Ltd.’s holdings in Philip Morris International were worth $42,725,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Doliver Capital Advisors LP lifted its holdings in Philip Morris International by 8.1% in the 3rd quarter. Doliver Capital Advisors LP now owns 29,755 shares of the company’s stock worth $3,303,000 after buying an additional 2,242 shares during the period. Hourglass Capital LLC lifted its holdings in Philip Morris International by 0.9% in the 2nd quarter. Hourglass Capital LLC now owns 76,258 shares of the company’s stock worth $8,957,000 after buying an additional 650 shares during the period. WFG Advisors LP lifted its holdings in Philip Morris International by 30.1% in the 2nd quarter. WFG Advisors LP now owns 12,753 shares of the company’s stock worth $1,498,000 after buying an additional 2,951 shares during the period. Wedbush Securities Inc. lifted its holdings in Philip Morris International by 28.0% in the 2nd quarter. Wedbush Securities Inc. now owns 18,832 shares of the company’s stock worth $2,212,000 after buying an additional 4,123 shares during the period. Finally, Swiss National Bank lifted its holdings in Philip Morris International by 1.0% in the 3rd quarter. Swiss National Bank now owns 5,958,031 shares of the company’s stock worth $661,401,000 after buying an additional 58,900 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.
In other news, Chairman Louis C. Camilleri sold 108,979 shares of the firm’s stock in a transaction that occurred 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 Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.23% of the company’s stock.
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 analysts’ expectations of $7.75 billion. Philip Morris International had a net margin of 9.32% and a negative return on equity of 67.59%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.25 EPS. analysts expect that Philip Morris International Inc. will post 4.75 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, January 11th. Stockholders of record on Thursday, December 21st were paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date was Wednesday, December 20th. Philip Morris International’s payout ratio is presently 94.48%.
Several equities research analysts have weighed in on PM shares. Zacks Investment Research upgraded Philip Morris International from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Wells Fargo & Co reiterated an “outperform” rating and issued a $140.00 price objective on shares of Philip Morris International in a report on Tuesday, October 10th. Goldman Sachs Group upgraded Philip Morris International from a “buy” rating to a “conviction-buy” rating and set a $135.00 price objective for the company in a report on Thursday, September 28th. Piper Jaffray Companies set a $130.00 price objective on Philip Morris International and gave the stock a “buy” rating in a report on Thursday, November 16th. Finally, Bank of America dropped their price objective on Philip Morris International from $124.00 to $121.00 and set a “neutral” rating for the company in a report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $124.77.
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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