Cypress Capital Management LLC WY cut its stake in shares of Philip Morris International Inc (NYSE:PM) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,820 shares of the company’s stock after selling 150 shares during the period. Philip Morris International comprises 2.7% of Cypress Capital Management LLC WY’s portfolio, making the stock its 7th largest position. Cypress Capital Management LLC WY’s holdings in Philip Morris International were worth $2,328,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Philip Morris International during the fourth quarter valued at $106,000. Gradient Investments LLC increased its position in shares of Philip Morris International by 76.1% in the first quarter. Gradient Investments LLC now owns 986 shares of the company’s stock valued at $111,000 after buying an additional 426 shares during the period. Welch Investments LLC acquired a new position in shares of Philip Morris International during the first quarter valued at $113,000. American Beacon Advisors Inc. acquired a new position in shares of Philip Morris International during the first quarter valued at $114,000. Finally, Acropolis Investment Management LLC acquired a new position in shares of Philip Morris International during the first quarter valued at $117,000. Institutional investors own 72.45% of the company’s stock.
Shares of Philip Morris International Inc (PM) traded down 0.81% during mid-day trading on Tuesday, reaching $114.92. 1,048,867 shares of the company were exchanged. Philip Morris International Inc has a 12 month low of $86.78 and a 12 month high of $123.55. The company has a market capitalization of $178.49 billion, a price-to-earnings ratio of 25.46 and a beta of 0.93. The firm’s 50-day moving average is $118.90 and its 200-day moving average is $112.12.
Philip Morris International (NYSE:PM) last released its earnings results on Thursday, July 20th. The company reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by $0.09. Philip Morris International had a negative return on equity of 66.18% and a net margin of 9.36%. The company had revenue of $6.92 billion during the quarter, compared to analysts’ expectations of $7.11 billion. During the same quarter in the previous year, the company earned $1.15 EPS. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities analysts forecast that Philip Morris International Inc will post $4.83 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 11th. Shareholders of record on Friday, June 23rd were given a $1.04 dividend. The ex-dividend date of this dividend was Wednesday, June 21st. This represents a $4.16 dividend on an annualized basis and a yield of 3.59%. Philip Morris International’s payout ratio is 92.24%.
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Several brokerages have weighed in on PM. Jefferies Group LLC reiterated a “hold” rating and issued a $121.00 price target on shares of Philip Morris International in a report on Tuesday, June 20th. Vetr downgraded Philip Morris International from a “hold” rating to a “sell” rating and set a $108.70 price target for the company. in a report on Monday, May 8th. Cowen and Company reiterated an “outperform” rating and issued a $120.00 price target on shares of Philip Morris International in a report on Wednesday, April 19th. BidaskClub upgraded Philip Morris International from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 21st. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $118.00 price target on shares of Philip Morris International in a report on Sunday, April 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. Philip Morris International has a consensus rating of “Buy” and an average price target of $122.00.
About Philip Morris International
Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.
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