OmniStar Financial Group Inc. boosted its position in shares of Philip Morris International Inc. (NYSE:PM) by 6.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 25,866 shares of the company’s stock after acquiring an additional 1,591 shares during the quarter. Philip Morris International comprises about 1.7% of OmniStar Financial Group Inc.’s portfolio, making the stock its 16th largest position. OmniStar Financial Group Inc.’s holdings in Philip Morris International were worth $1,964,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Titan Capital Management LLC CA purchased a new position in shares of Philip Morris International during the 2nd quarter valued at about $30,000. River & Mercantile Asset Management LLP purchased a new position in shares of Philip Morris International during the 2nd quarter valued at about $32,000. Manchester Financial Inc. purchased a new position in shares of Philip Morris International during the 2nd quarter valued at about $36,000. Brand Asset Management Group Inc. raised its stake in shares of Philip Morris International by 34.9% during the 2nd quarter. Brand Asset Management Group Inc. now owns 472 shares of the company’s stock valued at $37,000 after buying an additional 122 shares during the last quarter. Finally, Prestige Wealth Management Group LLC purchased a new position in shares of Philip Morris International during the 2nd quarter valued at about $38,000. 74.11% of the stock is owned by institutional investors.
Shares of Philip Morris International stock traded up $0.17 on Friday, hitting $77.92. The company’s stock had a trading volume of 267,892 shares, compared to its average volume of 8,054,017. Philip Morris International Inc. has a 1 year low of $64.67 and a 1 year high of $92.74. The firm has a fifty day moving average price of $74.99 and a 200-day moving average price of $81.14. The company has a market capitalization of $118.82 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 1.87 and a beta of 1.00.
Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Thursday, July 18th. The company reported $1.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.13. Philip Morris International had a negative return on equity of 80.96% and a net margin of 10.03%. The firm had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.42 billion. During the same quarter in the previous year, the business earned $1.41 EPS. Philip Morris International’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, equities analysts forecast that Philip Morris International Inc. will post 5.2 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 25th will be paid a $1.17 dividend. This represents a $4.68 annualized dividend and a dividend yield of 6.01%. The ex-dividend date of this dividend is Tuesday, September 24th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.14. Philip Morris International’s payout ratio is currently 91.76%.
In related news, insider Mario Masseroli sold 1,100 shares of Philip Morris International stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $87.42, for a total value of $96,162.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.21% of the stock is owned by insiders.
A number of equities analysts have weighed in on PM shares. Citigroup reiterated a “buy” rating on shares of Philip Morris International in a research note on Wednesday, September 4th. Credit Suisse Group set a $80.00 price objective on Philip Morris International and gave the company a “sell” rating in a research note on Wednesday, August 28th. Morgan Stanley reduced their price objective on Philip Morris International from $94.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. ValuEngine lowered Philip Morris International from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Cowen reiterated a “hold” rating on shares of Philip Morris International in a research note on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $93.92.
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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