Community Trust & Investment Co. acquired a new stake in Philip Morris International Inc. (NYSE:PM) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,784 shares of the company’s stock, valued at approximately $425,000.
Other large investors have also made changes to their positions in the company. Sterling Financial Planning Inc. purchased a new position in Philip Morris International during the 4th quarter worth $26,000. Perennial Advisors LLC acquired a new position in shares of Philip Morris International during the fourth quarter worth about $27,000. Grant Street Asset Management Inc. purchased a new position in Philip Morris International during the fourth quarter worth about $27,000. Key Financial Inc acquired a new stake in Philip Morris International in the fourth quarter valued at about $31,000. Finally, Jeppson Wealth Management LLC acquired a new stake in Philip Morris International in the third quarter valued at about $33,000. 74.18% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently commented on PM. Zacks Investment Research raised Philip Morris International from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a report on Tuesday, January 12th. Stifel Nicolaus raised their target price on Philip Morris International from $90.00 to $100.00 in a report on Friday, February 5th. Morgan Stanley boosted their target price on shares of Philip Morris International from $94.00 to $103.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 3rd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price target on shares of Philip Morris International from $100.00 to $105.00 in a report on Friday, January 8th. Finally, 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 research note on Friday, January 8th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $98.25.
Philip Morris International (NYSE:PM) last released its earnings results on Thursday, February 4th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.05. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.41 billion. Philip Morris International had a net margin of 10.07% and a negative return on equity of 78.02%. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.22 EPS. On average, equities analysts forecast that Philip Morris International Inc. will post 5.13 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 9th. Investors of record on Monday, March 22nd were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Friday, March 19th. This represents a $4.80 annualized dividend and a yield of 5.23%. Philip Morris International’s dividend payout ratio (DPR) is presently 92.49%.
In other Philip Morris International news, VP Marian Salzman sold 2,000 shares of Philip Morris International stock in a transaction dated Friday, February 5th. The stock was sold at an average price of $84.39, for a total value of $168,780.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.
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