Commerce Bank increased its position in shares of Philip Morris International Inc (NYSE:PM) by 2.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 396,432 shares of the company’s stock after purchasing an additional 8,698 shares during the quarter. Commerce Bank’s holdings in Philip Morris International were worth $46,561,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in PM. State Street Corp increased its position in Philip Morris International by 1.8% in the first quarter. State Street Corp now owns 59,926,871 shares of the company’s stock worth $6,766,079,000 after buying an additional 1,058,408 shares during the period. Legal & General Group Plc grew its holdings in Philip Morris International by 2.9% during the second quarter. Legal & General Group Plc now owns 7,422,457 shares of the company’s stock worth $871,687,000 after acquiring an additional 210,869 shares during the period. Swiss National Bank grew its holdings in Philip Morris International by 26.2% during the first quarter. Swiss National Bank now owns 5,726,731 shares of the company’s stock worth $646,548,000 after acquiring an additional 1,189,800 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Philip Morris International by 8.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 5,516,954 shares of the company’s stock worth $647,967,000 after acquiring an additional 452,857 shares during the period. Finally, UBS Asset Management Americas Inc. grew its holdings in Philip Morris International by 4.9% during the first quarter. UBS Asset Management Americas Inc. now owns 5,354,506 shares of the company’s stock worth $604,524,000 after acquiring an additional 251,734 shares during the period. Hedge funds and other institutional investors own 72.63% of the company’s stock.
A number of research analysts recently issued reports on PM shares. SBG Securities raised Philip Morris International from a “sell” rating to a “hold” rating and lifted their target price for the stock from $118.00 to $119.00 in a report on Friday, August 11th. BidaskClub raised Philip Morris International from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Piper Jaffray Companies set a $134.00 target price on Philip Morris International and gave the stock a “buy” rating in a report on Saturday, August 19th. Cowen reaffirmed a “buy” rating and set a $135.00 target price on shares of Philip Morris International in a report on Tuesday, August 22nd. Finally, Jefferies Group reaffirmed a “hold” rating and set a $120.00 target price (down from $121.00) on shares of Philip Morris International in a report on Thursday, August 24th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Philip Morris International has a consensus rating of “Buy” and a consensus price target of $124.23.
Philip Morris International Inc (PM) traded down $0.90 during trading hours on Thursday, hitting $106.70. The company had a trading volume of 4,040,283 shares, compared to its average volume of 4,128,440. Philip Morris International Inc has a fifty-two week low of $88.71 and a fifty-two week high of $123.55. The firm has a market cap of $165,730.00, a price-to-earnings ratio of 23.49, a price-to-earnings-growth ratio of 2.13 and a beta of 0.90. The company has a debt-to-equity ratio of -2.91, a current ratio of 1.13 and a quick ratio of 0.68.
Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Thursday, October 19th. The company reported $1.27 EPS for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.11). Philip Morris International had a negative return on equity of 67.59% and a net margin of 9.32%. The business had revenue of $7.50 billion for the quarter, compared to analyst estimates of $7.75 billion. During the same quarter in the previous year, the business posted $1.25 earnings per share. The company’s revenue was up 7.4% compared to the same quarter last year. analysts anticipate that Philip Morris International Inc will post 4.75 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Shareholders of record on Thursday, December 21st will be given a dividend of $1.07 per share. The ex-dividend date is Wednesday, December 20th. This represents a $4.28 dividend on an annualized basis and a yield of 4.01%. Philip Morris International’s payout ratio is presently 94.48%.
In other Philip Morris International news, Chairman Louis C. Camilleri sold 108,979 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $108.38, for a total transaction of $11,811,144.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.23% of the company’s stock.
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Philip Morris International Company Profile
Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.
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