First Mercantile Trust Co. Sells 7,544 Shares of Philip Morris International Inc. (NYSE:PM)

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First Mercantile Trust Co. trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 72.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,936 shares of the company’s stock after selling 7,544 shares during the quarter. First Mercantile Trust Co.’s holdings in Philip Morris International were worth $223,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Titan Capital Management LLC CA acquired a new position in shares of Philip Morris International in the 2nd quarter worth approximately $30,000. Strategic Blueprint LLC acquired a new position in shares of Philip Morris International in the 3rd quarter worth approximately $30,000. River & Mercantile Asset Management LLP acquired a new position in shares of Philip Morris International in the 2nd quarter worth approximately $32,000. Manchester Financial Inc. acquired a new position in shares of Philip Morris International in the 2nd quarter worth approximately $36,000. Finally, Brand Asset Management Group Inc. lifted its position in shares of Philip Morris International by 34.9% in the 2nd quarter. Brand Asset Management Group Inc. now owns 472 shares of the company’s stock worth $37,000 after purchasing an additional 122 shares during the period. 74.17% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International stock opened at $83.57 on Friday. Philip Morris International Inc. has a 12-month low of $64.67 and a 12-month high of $92.74. The firm’s fifty day moving average is $78.81 and its 200 day moving average is $80.34. The company has a market capitalization of $131.00 billion, a PE ratio of 16.39, a PEG ratio of 2.05 and a beta of 1.00.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, October 17th. The company reported $1.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.08. Philip Morris International had a net margin of 9.59% and a negative return on equity of 82.33%. The firm had revenue of $7.64 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter in the prior year, the company posted $1.44 earnings per share. The business’s revenue was up 1.8% on a year-over-year basis. On average, analysts anticipate that Philip Morris International Inc. will post 5.23 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Wednesday, September 25th were issued a dividend of $1.17 per share. This is an increase from Philip Morris International’s previous quarterly dividend of $1.14. The ex-dividend date was Tuesday, September 24th. This represents a $4.68 annualized dividend and a yield of 5.60%. Philip Morris International’s dividend payout ratio is presently 91.76%.

PM has been the topic of a number of recent analyst reports. Credit Suisse Group set a $80.00 price target on shares of Philip Morris International and gave the stock a “sell” rating in a research report on Wednesday, August 28th. Bank of America upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and set a $96.00 target price on the stock in a research report on Tuesday, October 1st. Wells Fargo & Co dropped their target price on shares of Philip Morris International from $102.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Citigroup dropped their target price on shares of Philip Morris International from $110.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Cowen reiterated a “hold” rating on shares of Philip Morris International in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. Philip Morris International currently has an average rating of “Buy” and a consensus price target of $92.27.

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

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