Clear Perspective Advisors LLC cut its stake in Philip Morris International Inc. (NYSE:PM) by 15.9% in the second quarter, Holdings Channel reports. The institutional investor owned 2,632 shares of the company’s stock after selling 498 shares during the period. Clear Perspective Advisors LLC’s holdings in Philip Morris International were worth $261,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Schaper Benz & Wise Investment Counsel Inc. WI grew its stake in Philip Morris International by 3.0% in the second quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 3,470 shares of the company’s stock valued at $344,000 after purchasing an additional 100 shares during the last quarter. Creative Financial Designs Inc. ADV increased its position in shares of Philip Morris International by 29.4% during the second quarter. Creative Financial Designs Inc. ADV now owns 444 shares of the company’s stock worth $44,000 after purchasing an additional 101 shares in the last quarter. RiverFront Investment Group LLC grew its holdings in Philip Morris International by 3.7% in the 2nd quarter. RiverFront Investment Group LLC now owns 2,806 shares of the company’s stock valued at $278,000 after buying an additional 101 shares in the last quarter. BerganKDV Wealth Management LLC grew its holdings in Philip Morris International by 9.8% in the 2nd quarter. BerganKDV Wealth Management LLC now owns 1,132 shares of the company’s stock valued at $112,000 after buying an additional 101 shares in the last quarter. Finally, Garde Capital Inc. grew its holdings in shares of Philip Morris International by 3.2% during the 1st quarter. Garde Capital Inc. now owns 3,285 shares of the company’s stock worth $292,000 after purchasing an additional 103 shares during the period. Institutional investors and hedge funds own 75.05% of the company’s stock.
PM has been the topic of a number of recent analyst reports. TheStreet upgraded Philip Morris International from a “c+” rating to a “b” rating in a report on Tuesday, July 20th. Morgan Stanley reaffirmed a “buy” rating and set a $110.00 price objective on shares of Philip Morris International in a report on Friday, July 2nd. Barclays set a $98.59 price objective on Philip Morris International and gave the company an “overweight” rating in a research report on Friday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Philip Morris International from $114.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, August 19th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $102.60.
Shares of NYSE PM traded up $0.92 during midday trading on Thursday, hitting $98.39. The stock had a trading volume of 46,707 shares, compared to its average volume of 4,408,336. Philip Morris International Inc. has a fifty-two week low of $68.93 and a fifty-two week high of $106.51. The firm has a market cap of $153.34 billion, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 1.95 and a beta of 0.84. The company’s 50-day simple moving average is $100.71 and its 200 day simple moving average is $97.95.
Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Monday, July 19th. The company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.02. Philip Morris International had a negative return on equity of 91.56% and a net margin of 11.13%. The firm had revenue of $7.84 billion for the quarter, compared to the consensus estimate of $7.71 billion. During the same quarter in the previous year, the business earned $1.29 earnings per share. The business’s revenue was up 17.9% compared to the same quarter last year. On average, sell-side analysts forecast that Philip Morris International Inc. will post 6.07 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 14th. Investors of record on Wednesday, September 29th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 5.08%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Tuesday, September 28th. Philip Morris International’s dividend payout ratio is presently 96.71%.
Philip Morris International Profile
Philip Morris International, Inc is a holding company. It engages in manufacturing and sale of cigarettes, tobacco and nicotine-containing products. It operates through the following geographical segments: European Union, Eastern Europe, Middles East & Africa, South & Southeast Asia, East Asia & Australia and Latin America & Canada.
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