Stock Yards Bank & Trust Co. trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 6.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,915 shares of the company’s stock after selling 1,968 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Philip Morris International were worth $2,347,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of PM. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Philip Morris International by 20.9% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 307,271 shares of the company’s stock valued at $27,160,000 after acquiring an additional 53,210 shares during the period. Meridian Wealth Management LLC bought a new position in shares of Philip Morris International in the 1st quarter valued at about $252,000. Columbia Asset Management grew its position in shares of Philip Morris International by 21.1% in the 1st quarter. Columbia Asset Management now owns 8,060 shares of the company’s stock valued at $712,000 after acquiring an additional 1,407 shares during the period. Advisory Services Network LLC boosted its holdings in shares of Philip Morris International by 2.2% during the 1st quarter. Advisory Services Network LLC now owns 47,123 shares of the company’s stock worth $4,165,000 after buying an additional 1,022 shares during the period. Finally, Ashburton Jersey Ltd boosted its holdings in shares of Philip Morris International by 10.3% during the 1st quarter. Ashburton Jersey Ltd now owns 197,849 shares of the company’s stock worth $17,488,000 after buying an additional 18,520 shares during the period. 74.17% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently commented on PM shares. Citigroup reduced their target price on shares of Philip Morris International from $110.00 to $90.00 and set a “buy” rating for the company in a report on Monday. JPMorgan Chase & Co. set a $86.00 target price on shares of Philip Morris International and gave the stock a “neutral” rating in a report on Wednesday, August 28th. Morgan Stanley reduced their target price on shares of Philip Morris International from $94.00 to $86.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Credit Suisse Group set a $80.00 target price on shares of Philip Morris International and gave the stock a “sell” rating in a report on Wednesday, August 28th. Finally, ValuEngine downgraded shares of Philip Morris International from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Two equities 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 company presently has an average rating of “Hold” and an average target price of $93.00.
Philip Morris International stock traded up $0.29 during midday trading on Tuesday, hitting $78.32. The company’s stock had a trading volume of 4,088,971 shares, compared to its average volume of 5,939,655. The company has a 50-day moving average price of $74.64 and a two-hundred day moving average price of $80.90. The company has a market cap of $121.28 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 1.91 and a beta of 1.00. Philip Morris International Inc. has a 1-year low of $64.67 and a 1-year high of $92.74.
Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, July 18th. The company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.33 by $0.13. The company had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.42 billion. Philip Morris International had a net margin of 10.03% and a negative return on equity of 80.96%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.41 EPS. As a group, equities research analysts forecast that Philip Morris International Inc. will post 5.2 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Wednesday, September 25th were given a $1.17 dividend. The ex-dividend date of this dividend was Tuesday, September 24th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.14. This represents a $4.68 annualized dividend and a dividend yield of 5.98%. Philip Morris International’s payout ratio is presently 91.76%.
In other news, insider Mario Masseroli sold 1,100 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $87.42, for a total value of $96,162.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is currently owned by insiders.
Philip Morris International Company Profile
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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