ProVise Management Group LLC lessened its stake in shares of Philip Morris International Inc. (NYSE:PM) by 5.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,309 shares of the company’s stock after selling 1,645 shares during the period. ProVise Management Group LLC’s holdings in Philip Morris International were worth $2,145,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Alerus Financial NA increased its holdings in Philip Morris International by 11.3% during the second quarter. Alerus Financial NA now owns 87,413 shares of the company’s stock valued at $7,058,000 after buying an additional 8,897 shares during the period. Envestnet Asset Management Inc. increased its holdings in Philip Morris International by 11.2% during the second quarter. Envestnet Asset Management Inc. now owns 201,092 shares of the company’s stock valued at $16,235,000 after buying an additional 20,196 shares during the period. Zacks Investment Management increased its holdings in Philip Morris International by 7.4% during the second quarter. Zacks Investment Management now owns 527,234 shares of the company’s stock valued at $42,569,000 after buying an additional 36,303 shares during the period. IMA Wealth Inc. purchased a new position in Philip Morris International during the second quarter valued at approximately $149,000. Finally, Jupiter Asset Management Ltd. increased its holdings in Philip Morris International by 102.3% during the second quarter. Jupiter Asset Management Ltd. now owns 72,816 shares of the company’s stock valued at $5,879,000 after buying an additional 36,816 shares during the period. 72.76% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on the stock. ValuEngine raised shares of Philip Morris International from a “strong sell” rating to a “sell” rating in a report on Monday, July 30th. Zacks Investment Research lowered shares of Philip Morris International from a “hold” rating to a “sell” rating in a report on Monday, September 24th. Societe Generale set a $95.00 price objective on shares of Philip Morris International and gave the company a “hold” rating in a report on Monday, October 22nd. Stifel Nicolaus cut their price objective on shares of Philip Morris International from $100.00 to $93.00 and set a “buy” rating on the stock in a report on Friday, July 20th. Finally, JPMorgan Chase & Co. lowered shares of Philip Morris International from an “overweight” rating to a “neutral” rating in a report on Friday, July 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $98.08.
NYSE PM opened at $89.18 on Friday. Philip Morris International Inc. has a 12-month low of $76.21 and a 12-month high of $111.25. The firm has a market capitalization of $138.46 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 2.04 and a beta of 0.58.
Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, October 18th. The company reported $1.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.16. Philip Morris International had a net margin of 8.20% and a negative return on equity of 78.80%. The business had revenue of $7.50 billion for the quarter, compared to analyst estimates of $7.16 billion. During the same period in the previous year, the company earned $1.27 earnings per share. The business’s revenue for the quarter was up .4% on a year-over-year basis. As a group, sell-side analysts anticipate that Philip Morris International Inc. will post 5.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Wednesday, September 26th were issued a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 5.11%. The ex-dividend date of this dividend was Tuesday, September 25th. Philip Morris International’s dividend payout ratio is currently 92.49%.
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About Philip Morris International
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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