Rockland Trust Co. Has $2.05 Million Holdings in Philip Morris International Inc. (NYSE:PM)

Rockland Trust Co. increased its stake in Philip Morris International Inc. (NYSE:PM) by 13.3% in the third quarter, Holdings Channel.com reports. The firm owned 26,666 shares of the company’s stock after purchasing an additional 3,137 shares during the quarter. Rockland Trust Co.’s holdings in Philip Morris International were worth $2,047,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Philip Morris International by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 125,492,442 shares of the company’s stock worth $9,854,922,000 after buying an additional 1,295,745 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Philip Morris International by 5.1% during the 2nd quarter. BlackRock Inc. now owns 100,831,956 shares of the company’s stock worth $7,918,335,000 after buying an additional 4,879,296 shares during the last quarter. Morgan Stanley boosted its stake in shares of Philip Morris International by 16.9% during the 2nd quarter. Morgan Stanley now owns 34,485,714 shares of the company’s stock worth $2,708,164,000 after buying an additional 4,998,070 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Philip Morris International by 41.5% during the 2nd quarter. Invesco Ltd. now owns 30,080,523 shares of the company’s stock worth $2,362,224,000 after buying an additional 8,824,567 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Philip Morris International by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,736,970 shares of the company’s stock worth $1,314,354,000 after buying an additional 358,545 shares during the last quarter. 74.11% of the stock is owned by hedge funds and other institutional investors.

PM has been the subject of a number of recent research reports. Citigroup restated a “buy” rating on shares of Philip Morris International in a research note on Wednesday, September 4th. JPMorgan Chase & Co. set a $86.00 price objective on shares of Philip Morris International and gave the stock a “neutral” rating in a research note on Wednesday, August 28th. Bank of America upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and set a $96.00 price objective for the company in a research note on Tuesday, October 1st. Barclays raised shares of Philip Morris International from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $82.00 to $100.00 in a report on Friday, July 19th. Finally, Credit Suisse Group set a $80.00 target price on shares of Philip Morris International and gave the company a “sell” rating in a report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $93.92.

Shares of PM stock opened at $77.95 on Friday. The firm’s 50-day moving average is $74.89 and its 200-day moving average is $81.07. The stock has a market cap of $120.50 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.90 and a beta of 1.00. Philip Morris International Inc. has a 52-week low of $64.67 and a 52-week high of $92.74.

Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, July 18th. The company reported $1.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.13. The company had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.42 billion. Philip Morris International had a net margin of 10.03% and a negative return on equity of 80.96%. Philip Morris International’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.41 EPS. As a group, research analysts anticipate that Philip Morris International Inc. will post 5.2 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Wednesday, September 25th were issued a $1.17 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.14. This represents a $4.68 annualized dividend and a yield of 6.00%. The ex-dividend date was Tuesday, September 24th. Philip Morris International’s dividend payout ratio is currently 91.76%.

In other Philip Morris International news, insider Mario Masseroli sold 1,100 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $87.42, for a total value of $96,162.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.21% of the stock is owned by corporate insiders.

About Philip Morris International

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.

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

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