Los Angeles Capital Management & Equity Research Inc. lowered its position in Philip Morris International Inc. (NYSE:PM) by 22.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 256,694 shares of the company’s stock after selling 74,414 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Philip Morris International were worth $20,931,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. Shine Investment Advisory Services Inc. raised its position in Philip Morris International by 90.7% in the 2nd quarter. Shine Investment Advisory Services Inc. now owns 1,245 shares of the company’s stock worth $101,000 after purchasing an additional 592 shares during the last quarter. Landaas & Co. WI ADV bought a new position in Philip Morris International in the 2nd quarter worth approximately $106,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in Philip Morris International in the 2nd quarter worth approximately $108,000. BerganKDV Wealth Management LLC bought a new position in Philip Morris International in the 2nd quarter worth approximately $123,000. Finally, Norway Savings Bank raised its position in Philip Morris International by 337.5% in the 2nd quarter. Norway Savings Bank now owns 1,750 shares of the company’s stock worth $141,000 after purchasing an additional 1,350 shares during the last quarter. Institutional investors own 72.76% of the company’s stock.
Several research analysts recently weighed in on PM shares. Zacks Investment Research cut shares of Philip Morris International from a “hold” rating to a “sell” rating in a research report on Monday, September 24th. ValuEngine upgraded shares of Philip Morris International from a “strong sell” rating to a “sell” rating in a research report on Friday, September 21st. Jefferies Financial Group restated a “buy” rating and issued a $93.00 price objective on shares of Philip Morris International in a research report on Friday, July 13th. Citigroup boosted their price objective on shares of Philip Morris International from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, September 21st. Finally, Piper Jaffray Companies set a $99.00 price objective on shares of Philip Morris International and gave the stock a “buy” rating in a research report on Wednesday, October 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $98.08.
Shares of Philip Morris International stock opened at $89.18 on Friday. The firm has a market cap of $138.46 billion, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 2.04 and a beta of 0.58. Philip Morris International Inc. has a 52 week low of $76.21 and a 52 week high of $111.25.
Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, October 18th. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.28 by $0.16. The company had revenue of $7.50 billion during the quarter, compared to analysts’ expectations of $7.16 billion. Philip Morris International had a net margin of 8.20% and a negative return on equity of 78.80%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.27 EPS. On average, equities research analysts forecast that Philip Morris International Inc. will post 5.01 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Wednesday, September 26th were given a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 5.11%. The ex-dividend date was Tuesday, September 25th. Philip Morris International’s payout ratio is 92.49%.
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.
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