Raymond James Financial Services Advisors Inc. increased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 8.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 413,980 shares of the company’s stock after acquiring an additional 31,350 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Philip Morris International were worth $36,592,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in PM. Vanguard Group Inc increased its position in Philip Morris International by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 118,890,424 shares of the company’s stock valued at $9,694,325,000 after acquiring an additional 1,516,211 shares during the period. Wedbush Securities Inc. boosted its stake in shares of Philip Morris International by 12.3% in the 4th quarter. Wedbush Securities Inc. now owns 14,282 shares of the company’s stock valued at $953,000 after purchasing an additional 1,569 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Philip Morris International by 4.7% in the 4th quarter. Advisors Asset Management Inc. now owns 302,063 shares of the company’s stock valued at $20,166,000 after purchasing an additional 13,544 shares during the last quarter. Sigma Planning Corp boosted its stake in shares of Philip Morris International by 4.8% in the 4th quarter. Sigma Planning Corp now owns 24,890 shares of the company’s stock valued at $1,662,000 after purchasing an additional 1,138 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Philip Morris International by 1.7% in the 4th quarter. Rhumbline Advisers now owns 2,487,927 shares of the company’s stock valued at $166,094,000 after purchasing an additional 40,456 shares during the last quarter. 73.52% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. ValuEngine lowered shares of Philip Morris International from a “hold” rating to a “sell” rating in a research note on Tuesday, April 9th. Morgan Stanley upped their price objective on shares of Philip Morris International from $88.00 to $94.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Bank of America reaffirmed a “sell” rating and issued a $74.00 price objective on shares of Philip Morris International in a research note on Tuesday, March 26th. Finally, Citigroup upped their price objective on shares of Philip Morris International from $90.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, March 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $92.57.
Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, April 18th. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. Philip Morris International had a net margin of 9.74% and a negative return on equity of 78.74%. The firm had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.76 billion. During the same period last year, the firm earned $1.00 earnings per share. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, analysts predict that Philip Morris International Inc. will post 5.14 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 21st will be paid a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date of this dividend is Thursday, June 20th. Philip Morris International’s dividend payout ratio (DPR) is 89.41%.
In other news, VP Michael R. Kunst bought 2,500 shares of the stock in a transaction dated Monday, April 29th. The stock was bought at an average price of $84.67 per share, for a total transaction of $211,675.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Louis C. Camilleri sold 70,000 shares of the stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $83.54, for a total transaction of $5,847,800.00. The disclosure for this sale can be found here. Insiders acquired 4,000 shares of company stock worth $331,705 over the last ninety days. Insiders own 0.21% of the company’s stock.
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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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