Jarislowsky Fraser Ltd Trims Stake in Philip Morris International Inc. (NYSE:PM)

Jarislowsky Fraser Ltd lessened its holdings in Philip Morris International Inc. (NYSE:PM) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 276,877 shares of the company’s stock after selling 3,836 shares during the quarter. Jarislowsky Fraser Ltd’s holdings in Philip Morris International were worth $30,736,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Doliver Capital Advisors LP lifted its stake in Philip Morris International by 8.1% in the third quarter. Doliver Capital Advisors LP now owns 29,755 shares of the company’s stock valued at $3,303,000 after buying an additional 2,242 shares during the last quarter. Hourglass Capital LLC lifted its stake in Philip Morris International by 0.9% in the second quarter. Hourglass Capital LLC now owns 76,258 shares of the company’s stock valued at $8,957,000 after buying an additional 650 shares during the last quarter. WFG Advisors LP raised its stake in shares of Philip Morris International by 30.1% during the second quarter. WFG Advisors LP now owns 12,753 shares of the company’s stock valued at $1,498,000 after purchasing an additional 2,951 shares in the last quarter. Wedbush Securities Inc. raised its stake in shares of Philip Morris International by 28.0% during the second quarter. Wedbush Securities Inc. now owns 18,832 shares of the company’s stock valued at $2,212,000 after purchasing an additional 4,123 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Philip Morris International by 1.0% during the third quarter. Swiss National Bank now owns 5,958,031 shares of the company’s stock valued at $661,401,000 after purchasing an additional 58,900 shares in the last quarter. Institutional investors own 72.35% of the company’s stock.

Shares of Philip Morris International Inc. (PM) traded down $0.36 on Tuesday, reaching $104.50. The company had a trading volume of 5,513,800 shares, compared to its average volume of 4,410,878. The stock has a market cap of $162,310.00, a PE ratio of 23.07, a P/E/G ratio of 1.89 and a beta of 0.89. Philip Morris International Inc. has a 1 year low of $89.97 and a 1 year high of $123.55. The company has a debt-to-equity ratio of -2.91, a current ratio of 1.13 and a quick ratio of 0.68.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, October 19th. The company reported $1.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.11). Philip Morris International had a negative return on equity of 67.59% and a net margin of 9.32%. The company had revenue of $7.50 billion during the quarter, compared to analysts’ expectations of $7.75 billion. During the same period in the prior year, the business posted $1.25 EPS. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. equities analysts anticipate that Philip Morris International Inc. will post 4.75 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 11th. Shareholders of record on Thursday, December 21st were paid a dividend of $1.07 per share. The ex-dividend date was Wednesday, December 20th. This represents a $4.28 annualized dividend and a yield of 4.10%. Philip Morris International’s dividend payout ratio (DPR) is presently 94.48%.

In other Philip Morris International news, Chairman Louis C. Camilleri sold 108,979 shares of Philip Morris International stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $108.38, for a total transaction of $11,811,144.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.

A number of equities research analysts recently weighed in on PM shares. Piper Jaffray Companies restated a “buy” rating and set a $130.00 price objective on shares of Philip Morris International in a research note on Sunday, October 22nd. Societe Generale upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday, October 20th. Goldman Sachs Group assumed coverage on shares of Philip Morris International in a research note on Monday, October 2nd. They set a “buy” rating on the stock. Cowen reiterated a “buy” rating on shares of Philip Morris International in a research report on Sunday, September 24th. Finally, Jefferies Group reiterated a “hold” rating and issued a $120.00 price target on shares of Philip Morris International in a research report on Thursday, September 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. Philip Morris International currently has an average rating of “Hold” and an average target price of $124.77.

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Philip Morris International Company Profile

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.

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

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