Chesley Taft & Associates LLC Lowers Position in Philip Morris International Inc. (PM)

Chesley Taft & Associates LLC decreased its position in Philip Morris International Inc. (NYSE:PM) by 43.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,766 shares of the company’s stock after selling 9,875 shares during the period. Chesley Taft & Associates LLC’s holdings in Philip Morris International were worth $1,041,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PM. Shine Investment Advisory Services Inc. raised its stake in Philip Morris International by 90.7% in the second quarter. Shine Investment Advisory Services Inc. now owns 1,245 shares of the company’s stock worth $101,000 after buying an additional 592 shares in the last quarter. BKD Wealth Advisors LLC raised its stake in Philip Morris International by 5.0% in the second quarter. BKD Wealth Advisors LLC now owns 13,174 shares of the company’s stock worth $1,064,000 after buying an additional 625 shares in the last quarter. Pictet & Cie Europe SA raised its stake in Philip Morris International by 7.3% in the second quarter. Pictet & Cie Europe SA now owns 9,173 shares of the company’s stock worth $741,000 after buying an additional 627 shares in the last quarter. InterOcean Capital LLC raised its stake in Philip Morris International by 11.3% in the second quarter. InterOcean Capital LLC now owns 6,274 shares of the company’s stock worth $507,000 after buying an additional 636 shares in the last quarter. Finally, Strategic Financial Group LLC raised its stake in Philip Morris International by 20.7% in the second quarter. Strategic Financial Group LLC now owns 3,732 shares of the company’s stock worth $301,000 after buying an additional 639 shares in the last quarter. Hedge funds and other institutional investors own 72.73% of the company’s stock.

Shares of PM stock opened at $82.31 on Friday. The firm has a market cap of $126.75 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 1.81 and a beta of 0.79. The company has a debt-to-equity ratio of -2.76, a quick ratio of 0.64 and a current ratio of 1.15. Philip Morris International Inc. has a 12-month low of $76.21 and a 12-month high of $115.15.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, July 19th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.18. The business had revenue of $7.73 billion for the quarter, compared to the consensus estimate of $7.53 billion. Philip Morris International had a negative return on equity of 76.67% and a net margin of 7.84%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.14 earnings per share. On average, analysts predict that Philip Morris International Inc. will post 5.01 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Wednesday, September 26th were given a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date was Tuesday, September 25th. Philip Morris International’s payout ratio is presently 92.49%.

A number of equities analysts recently commented on the stock. ValuEngine raised shares of Philip Morris International from a “strong sell” rating to a “sell” rating in a research note on Monday, July 30th. Piper Jaffray Companies set a $99.00 price target on Philip Morris International and gave the stock a “buy” rating in a research report on Wednesday. Societe Generale downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research report on Monday, July 23rd. Argus raised Philip Morris International from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Wednesday, July 25th. Finally, JPMorgan Chase & Co. downgraded Philip Morris International from an “overweight” rating to a “neutral” rating in a research report on Friday, July 20th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $98.00.

Philip Morris International Company Profile

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.

Further Reading: How Do You Calculate Return on Investment (ROI)?

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

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