Sterling Capital Management LLC trimmed its position in shares of Philip Morris International Inc. (NYSE:PM) by 57.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,020 shares of the company’s stock after selling 17,537 shares during the quarter. Sterling Capital Management LLC’s holdings in Philip Morris International were worth $1,062,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of PM. Shine Investment Advisory Services Inc. increased its holdings 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 acquiring an additional 592 shares in the last quarter. Landaas & Co. WI ADV purchased a new stake in Philip Morris International in the 2nd quarter worth $106,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Philip Morris International in the 2nd quarter worth $108,000. BerganKDV Wealth Management LLC purchased a new stake in Philip Morris International in the 2nd quarter worth $123,000. Finally, Norway Savings Bank increased its holdings 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 acquiring an additional 1,350 shares in the last quarter. 72.76% of the stock is owned by hedge funds and other institutional investors.
Shares of PM opened at $89.18 on Friday. Philip Morris International Inc. has a 52-week low of $76.21 and a 52-week high of $111.25. The firm has a market cap of $138.46 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 2.04 and a beta of 0.58.
Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, October 18th. The company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.16. The company had revenue of $7.50 billion for 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 firm’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.27 EPS. Sell-side analysts forecast that Philip Morris International Inc. will post 5.01 earnings per share for the current year.
The company 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. The ex-dividend date of this dividend was Tuesday, September 25th. This represents a $4.56 annualized dividend and a dividend yield of 5.11%. Philip Morris International’s payout ratio is 92.49%.
Several equities research analysts have issued reports on the stock. Citigroup lifted their target price on shares of Philip Morris International from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, October 19th. Jefferies Financial Group cut shares of Philip Morris International from a “buy” rating to a “hold” rating and set a $80.00 target price on the stock. in a research note on Friday, August 24th. Stifel Nicolaus lowered their target price on shares of Philip Morris International from $100.00 to $93.00 and set a “buy” rating on the stock in a research note on Friday, July 20th. ValuEngine cut shares of Philip Morris International from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 23rd. Finally, Morgan Stanley lowered their target price on shares of Philip Morris International from $111.00 to $102.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company’s stock. Philip Morris International has a consensus rating of “Buy” and an average target price of $98.08.
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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