IBM Retirement Fund raised its position in Philip Morris International Inc. (NYSE:PM) by 5.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,724 shares of the company’s stock after purchasing an additional 2,213 shares during the quarter. Philip Morris International accounts for approximately 0.8% of IBM Retirement Fund’s holdings, making the stock its 28th biggest holding. IBM Retirement Fund’s holdings in Philip Morris International were worth $4,695,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Wilbanks Smith & Thomas Asset Management LLC raised its position in Philip Morris International by 7.3% in the 4th quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 15,701 shares of the company’s stock worth $1,659,000 after purchasing an additional 1,072 shares during the period. Buckley Wealth Management LLC purchased a new stake in Philip Morris International in the 4th quarter worth about $2,238,000. Texas Yale Capital Corp. raised its position in Philip Morris International by 3.6% in the 4th quarter. Texas Yale Capital Corp. now owns 19,518 shares of the company’s stock worth $2,062,000 after purchasing an additional 675 shares during the period. Wealthstreet Investment Advisors LLC purchased a new stake in Philip Morris International in the 4th quarter worth about $7,669,000. Finally, Cooke & Bieler LP raised its position in Philip Morris International by 12.2% in the 4th quarter. Cooke & Bieler LP now owns 577,169 shares of the company’s stock worth $60,978,000 after purchasing an additional 62,798 shares during the period. 72.33% of the stock is currently owned by institutional investors.
A number of research firms recently weighed in on PM. Citigroup raised shares of Philip Morris International from a “neutral” rating to a “buy” rating and set a $125.00 price objective on the stock in a research report on Wednesday, February 28th. They noted that the move was a valuation call. Bank of America reduced their price objective on shares of Philip Morris International from $115.00 to $113.00 and set a “neutral” rating on the stock in a research report on Friday, February 9th. Piper Jaffray Companies reissued a “buy” rating and issued a $126.00 price objective on shares of Philip Morris International in a research report on Thursday, February 8th. Morgan Stanley raised their target price on shares of Philip Morris International from $120.00 to $123.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 30th. Finally, Zacks Investment Research raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a research report on Tuesday, January 23rd. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $124.57.
Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, February 8th. The company reported $1.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by ($0.04). The business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.17 billion. Philip Morris International had a net margin of 7.73% and a negative return on equity of 71.99%. The business’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.10 earnings per share. research analysts anticipate that Philip Morris International Inc. will post 5.27 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 11th. Investors of record on Thursday, March 22nd will be issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 3.99%. The ex-dividend date is Wednesday, March 21st. Philip Morris International’s payout ratio is 87.17%.
In related news, CEO Andre Calantzopoulos sold 49,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $103.66, for a total transaction of $5,079,340.00. Following the transaction, the chief executive officer now directly owns 792,765 shares of the company’s stock, valued at $82,178,019.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Marc S. Firestone sold 13,650 shares of Philip Morris International stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $104.63, for a total transaction of $1,428,199.50. Following the transaction, the insider now directly owns 189,199 shares in the company, valued at $19,795,891.37. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.
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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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