Verity Asset Management Inc. bought a new position in Philip Morris International Inc (NYSE:PM) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,272 shares of the company’s stock, valued at approximately $369,000.
A number of other hedge funds also recently modified their holdings of the business. Swiss National Bank grew its stake in Philip Morris International by 26.2% in the 1st quarter. Swiss National Bank now owns 5,726,731 shares of the company’s stock worth $646,548,000 after acquiring an additional 1,189,800 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in Philip Morris International by 4.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 5,354,506 shares of the company’s stock worth $604,524,000 after acquiring an additional 251,734 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Philip Morris International by 0.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,357,568 shares of the company’s stock worth $491,969,000 after acquiring an additional 18,903 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in Philip Morris International by 10.5% in the 1st quarter. Parametric Portfolio Associates LLC now owns 4,013,000 shares of the company’s stock worth $453,068,000 after acquiring an additional 380,659 shares in the last quarter. Finally, C WorldWide Group Holding A S grew its stake in Philip Morris International by 70.9% in the 1st quarter. C WorldWide Group Holding A S now owns 3,027,193 shares of the company’s stock worth $341,770,000 after acquiring an additional 1,255,776 shares in the last quarter. Institutional investors and hedge funds own 72.01% of the company’s stock.
In other news, insider Drago Azinovic sold 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $116.00, for a total transaction of $1,624,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.23% of the stock is currently owned by insiders.
A number of equities analysts have commented on the stock. Jefferies Group LLC restated a “hold” rating and issued a $121.00 target price on shares of Philip Morris International in a research note on Tuesday, June 20th. Piper Jaffray Companies set a $134.00 price target on shares of Philip Morris International and gave the stock a “buy” rating in a research report on Saturday, August 19th. SBG Securities raised shares of Philip Morris International from a “sell” rating to a “hold” rating and upped their price target for the stock from $118.00 to $119.00 in a research report on Friday, August 11th. BidaskClub raised shares of Philip Morris International from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 21st. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $135.00 price target on shares of Philip Morris International in a research report on Tuesday, August 22nd. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $122.79.
Shares of Philip Morris International Inc (PM) opened at 112.51 on Friday. Philip Morris International Inc has a 52-week low of $86.78 and a 52-week high of $123.55. The stock has a market cap of $174.75 billion, a PE ratio of 24.93 and a beta of 0.94. The company’s 50-day moving average is $116.11 and its 200-day moving average is $115.73.
Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, July 20th. The company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.09). The firm had revenue of $6.92 billion for the quarter, compared to analyst estimates of $7.11 billion. Philip Morris International had a negative return on equity of 66.18% and a net margin of 9.36%. The company’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.15 EPS. Equities analysts anticipate that Philip Morris International Inc will post $4.83 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Wednesday, September 27th will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Tuesday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.04. Philip Morris International’s payout ratio is currently 92.24%.
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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