Abner Herrman & Brock LLC cut its holdings in Philip Morris International Inc. (NYSE:PM) by 52.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,557 shares of the company’s stock after selling 50,689 shares during the period. Abner Herrman & Brock LLC’s holdings in Philip Morris International were worth $3,796,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of PM. Fundsmith Equity Fund L.P. acquired a new stake in Philip Morris International in the second quarter valued at $845,763,000. Flossbach Von Storch AG raised its stake in Philip Morris International by 48.1% in the second quarter. Flossbach Von Storch AG now owns 14,212,696 shares of the company’s stock valued at $1,147,533,000 after buying an additional 4,618,289 shares in the last quarter. Morgan Stanley raised its stake in Philip Morris International by 23.9% in the second quarter. Morgan Stanley now owns 22,738,044 shares of the company’s stock valued at $1,835,871,000 after buying an additional 4,386,487 shares in the last quarter. Coronation Fund Managers Ltd. raised its stake in Philip Morris International by 1,884.4% in the second quarter. Coronation Fund Managers Ltd. now owns 3,877,270 shares of the company’s stock valued at $313,051,000 after buying an additional 3,681,882 shares in the last quarter. Finally, Charles Schwab Investment Advisory Inc. acquired a new stake in Philip Morris International in the second quarter valued at $277,027,000. Institutional investors own 72.81% of the company’s stock.
A number of research firms have recently commented on PM. Citigroup set a $100.00 target price on Philip Morris International and gave the stock a “buy” rating in a research report on Friday. ValuEngine upgraded Philip Morris International from a “strong sell” rating to a “sell” rating in a research report on Monday, July 30th. Zacks Investment Research cut Philip Morris International from a “hold” rating to a “sell” rating in a research report on Monday, September 24th. Piper Jaffray Companies set a $99.00 target price on Philip Morris International and gave the stock a “buy” rating in a research report on Wednesday, October 10th. Finally, Stifel Nicolaus cut their target price on Philip Morris International from $100.00 to $93.00 and set a “buy” rating on the stock in a research report on Friday, July 20th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $98.36.
Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, October 18th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.16. The firm had revenue of $7.50 billion for the quarter, compared to analysts’ expectations of $7.16 billion. Philip Morris International had a negative return on equity of 76.67% and a net margin of 7.84%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.27 EPS. As a group, equities research analysts forecast that Philip Morris International Inc. will post 4.99 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Wednesday, September 26th were given a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 5.13%. The ex-dividend date was Tuesday, September 25th. Philip Morris International’s dividend payout ratio (DPR) is presently 92.49%.
About Philip Morris International
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.
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