Stevens Capital Management LP reduced its stake in Philip Morris International Inc. (NYSE:PM) by 48.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 95,334 shares of the company’s stock after selling 90,006 shares during the quarter. Stevens Capital Management LP’s holdings in Philip Morris International were worth $8,427,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Essex Investment Management Co. LLC purchased a new stake in Philip Morris International in the fourth quarter valued at approximately $27,000. Transamerica Financial Advisors Inc. raised its holdings in shares of Philip Morris International by 552.8% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 470 shares of the company’s stock worth $32,000 after purchasing an additional 398 shares in the last quarter. Claybrook Capital LLC bought a new stake in shares of Philip Morris International in the 4th quarter worth approximately $39,000. Litman Gregory Asset Management LLC purchased a new position in shares of Philip Morris International in the fourth quarter worth approximately $40,000. Finally, Clarfeld Financial Advisors LLC purchased a new position in shares of Philip Morris International in the fourth quarter worth approximately $40,000. 73.50% of the stock is currently owned by institutional investors.
Several research firms have commented on PM. UBS Group raised shares of Philip Morris International from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $86.00 to $101.00 in a research report on Wednesday, February 27th. ValuEngine raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Citigroup boosted their price objective on shares of Philip Morris International from $90.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Bank of America restated 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, Zacks Investment Research cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $92.57.
Shares of PM traded down $1.44 during trading hours on Wednesday, hitting $77.38. The stock had a trading volume of 6,268,400 shares, compared to its average volume of 5,533,442. The company’s fifty day moving average price is $80.91. Philip Morris International Inc. has a 52 week low of $64.67 and a 52 week high of $92.74. The stock has a market capitalization of $121.09 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 1.96 and a beta of 0.97.
Philip Morris International (NYSE:PM) last posted its earnings results on Thursday, April 18th. The company reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 business had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.76 billion. During the same quarter in the prior year, the firm earned $1.00 EPS. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. Analysts anticipate that Philip Morris International Inc. will post 5.15 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 21st will be given a dividend of $1.14 per share. The ex-dividend date is Thursday, June 20th. This represents a $4.56 dividend on an annualized basis and a yield of 5.89%. Philip Morris International’s payout ratio is presently 89.41%.
In other Philip Morris International news, VP Michael R. Kunst bought 2,500 shares of the business’s stock in a transaction on Monday, April 29th. The shares were bought at an average cost of $84.67 per share, for a total transaction of $211,675.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Louis C. Camilleri sold 70,000 shares of the stock in a transaction that occurred on 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. Over the last 90 days, insiders have acquired 4,000 shares of company stock worth $331,705. Corporate insiders own 0.21% of the company’s stock.
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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