Highstreet Asset Management Inc. lifted its stake in Philip Morris International Inc. (NYSE:PM) by 4.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,377 shares of the company’s stock after purchasing an additional 1,176 shares during the quarter. Highstreet Asset Management Inc.’s holdings in Philip Morris International were worth $1,694,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of PM. Capital International Investors boosted its position in shares of Philip Morris International by 325.0% in the 3rd quarter. Capital International Investors now owns 33,897,955 shares of the company’s stock worth $2,764,039,000 after purchasing an additional 25,922,397 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Philip Morris International by 266,796.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 16,985,289 shares of the company’s stock worth $1,384,981,000 after purchasing an additional 16,978,925 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in Philip Morris International by 6,541.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,319,091 shares of the company’s stock valued at $170,000 after acquiring an additional 11,148,661 shares in the last quarter. Capital Research Global Investors lifted its position in Philip Morris International by 11.0% in the 3rd quarter. Capital Research Global Investors now owns 46,383,194 shares of the company’s stock valued at $3,782,086,000 after acquiring an additional 4,613,349 shares in the last quarter. Finally, BlackRock Inc. lifted its position in Philip Morris International by 5.1% in the 4th quarter. BlackRock Inc. now owns 95,049,723 shares of the company’s stock valued at $6,345,520,000 after acquiring an additional 4,576,645 shares in the last quarter. 74.45% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on PM shares. Piper Jaffray Companies set a $110.00 price objective on Philip Morris International and gave the company a “buy” rating in a research report on Monday, December 3rd. Credit Suisse Group cut Philip Morris International from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $92.00 to $74.00 in a research report on Tuesday, December 18th. ValuEngine cut Philip Morris International from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. Morgan Stanley lowered their price objective on Philip Morris International from $102.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 8th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Philip Morris International in a research report on Sunday, February 10th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $91.86.
Shares of PM opened at $89.79 on Friday. The firm has a market cap of $138.98 billion, a price-to-earnings ratio of 17.61, a P/E/G ratio of 1.85 and a beta of 0.95. Philip Morris International Inc. has a 1-year low of $64.67 and a 1-year high of $105.80.
Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, February 7th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.09. The business had revenue of $7.50 billion during the quarter, compared to analyst estimates of $7.46 billion. Philip Morris International had a net margin of 9.90% and a negative return on equity of 76.82%. The company’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.32 EPS. As a group, equities research analysts predict that Philip Morris International Inc. will post 5.36 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Tuesday, March 26th will be paid a dividend of $1.14 per share. The ex-dividend date is Monday, March 25th. This represents a $4.56 dividend on an annualized basis and a yield of 5.08%. Philip Morris International’s dividend payout ratio is presently 89.41%.
In other Philip Morris International news, CEO Andre Calantzopoulos sold 50,000 shares of the business’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $84.76, for a total transaction of $4,238,000.00. Following the completion of the sale, the chief executive officer now directly owns 844,901 shares in the company, valued at approximately $71,613,808.76. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.22% of the stock is currently owned by insiders.
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About Philip Morris International
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.
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