Cooke & Bieler LP increased its stake in Philip Morris International Inc. (NYSE:PM) by 12.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 577,169 shares of the company’s stock after buying an additional 62,798 shares during the period. Cooke & Bieler LP’s holdings in Philip Morris International were worth $60,978,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of PM. NewSquare Capital LLC increased its stake in Philip Morris International by 6,572.3% during the third quarter. NewSquare Capital LLC now owns 101,753 shares of the company’s stock valued at $116,000 after purchasing an additional 100,228 shares during the last quarter. Front Row Advisors LLC acquired a new position in shares of Philip Morris International during the fourth quarter valued at $118,000. Vantage Investment Advisors LLC boosted its holdings in shares of Philip Morris International by 1.0% during the second quarter. Vantage Investment Advisors LLC now owns 1,033 shares of the company’s stock valued at $121,000 after acquiring an additional 10 shares during the period. Cerebellum GP LLC acquired a new position in shares of Philip Morris International during the fourth quarter valued at $128,000. Finally, Financial Engines Advisors L.L.C. boosted its holdings in shares of Philip Morris International by 399.2% during the third quarter. Financial Engines Advisors L.L.C. now owns 1,203 shares of the company’s stock valued at $134,000 after acquiring an additional 962 shares during the period. Institutional investors and hedge funds own 72.33% of the company’s stock.
In related news, insider Marc S. Firestone sold 13,650 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $104.63, for a total value of $1,428,199.50. Following the completion of the sale, the insider now owns 189,199 shares of the company’s stock, valued at $19,795,891.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andre Calantzopoulos sold 49,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 792,765 shares of the company’s stock, valued at $82,178,019.90. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.
Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, February 8th. The company reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.04). The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.17 billion. Philip Morris International had a negative return on equity of 71.99% and a net margin of 7.73%. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.10 EPS. analysts forecast that Philip Morris International Inc. will post 5.27 EPS for the current fiscal year.
The business 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 $1.07 dividend. 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 currently 87.17%.
Several equities analysts have recently issued reports on PM shares. Zacks Investment Research downgraded shares of Philip Morris International from a “hold” rating to a “sell” rating in a report on Monday, December 11th. Jefferies Group raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $124.00 price target for the company in a report on Friday, January 19th. Citigroup raised shares of Philip Morris International from a “neutral” rating to a “buy” rating and set a $125.00 price target for the company in a report on Wednesday, February 28th. They noted that the move was a valuation call. Piper Jaffray Companies reissued an “overweight” rating and set a $137.00 price target (up previously from $130.00) on shares of Philip Morris International in a report on Thursday, January 11th. Finally, Bank of America reduced their price target on shares of Philip Morris International from $115.00 to $113.00 and set a “neutral” rating for the company in a report on Friday, February 9th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $124.57.
ILLEGAL ACTIVITY WARNING: This news story was reported by American Banking News and is the sole property of of American Banking News. If you are accessing this news story on another publication, it was copied illegally and reposted in violation of international trademark and copyright laws. The legal version of this news story can be read at https://www.americanbankingnews.com/2018/03/14/philip-morris-international-inc-pm-shares-bought-by-cooke-bieler-lp.html.
Philip Morris International 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.
Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.