American Research & Management Co. Trims Stake in Philip Morris International Inc. (NYSE:PM)


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American Research & Management Co. lessened its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 3.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,873 shares of the company’s stock after selling 1,681 shares during the period. American Research & Management Co.’s holdings in Philip Morris International were worth $3,716,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PM. First Financial Bank Trust Division boosted its stake in shares of Philip Morris International by 34.3% during the first quarter. First Financial Bank Trust Division now owns 5,630 shares of the company’s stock valued at $500,000 after purchasing an additional 1,438 shares during the period. Chickasaw Capital Management LLC boosted its position in Philip Morris International by 1.4% in the 1st quarter. Chickasaw Capital Management LLC now owns 24,686 shares of the company’s stock valued at $2,191,000 after buying an additional 350 shares during the period. Pensionfund DSM Netherlands purchased a new stake in Philip Morris International in the 1st quarter valued at about $5,058,000. Pensionfund Sabic bought a new position in Philip Morris International in the 1st quarter worth about $3,372,000. Finally, Bard Financial Services Inc. purchased a new position in shares of Philip Morris International during the fourth quarter worth approximately $5,856,000. 74.18% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International stock traded up $0.83 during midday trading on Thursday, reaching $89.11. The company’s stock had a trading volume of 27,106 shares, compared to its average volume of 4,796,925. The stock’s 50-day simple moving average is $87.43 and its 200-day simple moving average is $81.18. Philip Morris International Inc. has a 52-week low of $66.85 and a 52-week high of $91.25. The stock has a market capitalization of $138.88 billion, a P/E ratio of 17.87, a PEG ratio of 2.27 and a beta of 0.77.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, February 4th. The company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.05. Philip Morris International had a negative return on equity of 78.02% and a net margin of 10.07%. The company had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.41 billion. During the same period last year, the business posted $1.22 earnings per share. The firm’s revenue was down 3.5% compared to the same quarter last year. Equities research analysts predict that Philip Morris International Inc. will post 5.13 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 9th. Stockholders of record on Monday, March 22nd will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 5.39%. The ex-dividend date is Friday, March 19th. Philip Morris International’s payout ratio is 92.49%.

Several brokerages recently issued reports on PM. Stifel Nicolaus increased their price objective on Philip Morris International from $90.00 to $100.00 in a research note on Friday, February 5th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price target on Philip Morris International from $100.00 to $105.00 in a research report on Friday, January 8th. Smith Barney Citigroup reiterated a “” rating and set a $105.00 price target (up previously from $100.00) on shares of Philip Morris International in a report on Friday, January 8th. Sanford C. Bernstein initiated coverage on Philip Morris International in a research report on Tuesday, January 19th. They issued a “market perform” rating and a $92.00 price target for the company. Finally, Edward Jones downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research report on Tuesday, December 15th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $97.64.

In related news, VP Marian Salzman sold 2,000 shares of Philip Morris International stock in a transaction that occurred on Friday, February 5th. The stock was sold at an average price of $84.39, for a total transaction of $168,780.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.22% of the stock is currently owned by company insiders.

Philip Morris International Company Profile

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, 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 Creations, HEETS Dimensions, HEETS Marlboro, HEETS FROM MARLBORO, Marlboro Dimensions, Marlboro HeatSticks, and Parliament HeatSticks brands, as well as under the Fiit and Miix licensed brands.

Further Reading: What is Forex?

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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