Cape Cod Five Cents Savings Bank reduced its position in shares of Philip Morris International Inc (NYSE:PM) by 3.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,596 shares of the company’s stock after selling 240 shares during the period. Cape Cod Five Cents Savings Bank’s holdings in Philip Morris International were worth $774,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in PM. Envestnet Asset Management Inc. raised its position in Philip Morris International by 4.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 281,486 shares of the company’s stock worth $25,752,000 after buying an additional 12,161 shares during the last quarter. Archon Partners LLC raised its position in Philip Morris International by 0.6% in the fourth quarter. Archon Partners LLC now owns 78,500 shares of the company’s stock worth $7,182,000 after buying an additional 500 shares during the last quarter. Parallel Advisors LLC acquired a new position in Philip Morris International during the fourth quarter worth $659,000. Bristol Advisors LLC acquired a new position in Philip Morris International during the fourth quarter worth $448,000. Finally, Baillie Gifford & Co. raised its position in Philip Morris International by 6.5% in the fourth quarter. Baillie Gifford & Co. now owns 106,590 shares of the company’s stock worth $9,752,000 after buying an additional 6,518 shares during the last quarter. 72.33% of the stock is owned by institutional investors and hedge funds.
Shares of Philip Morris International Inc (NYSE PM) opened at 114.76 on Friday. The firm has a 50 day moving average of $118.90 and a 200-day moving average of $112.12. Philip Morris International Inc has a 12 month low of $86.78 and a 12 month high of $123.55. The stock has a market capitalization of $178.24 billion, a P/E ratio of 25.43 and a beta of 0.93.
Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, July 20th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by $0.09. The firm had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $7.11 billion. Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. Philip Morris International’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.15 EPS. Analysts forecast that Philip Morris International Inc will post $4.83 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 11th. Investors of record on Friday, June 23rd were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 3.62%. The ex-dividend date was Wednesday, June 21st. Philip Morris International’s dividend payout ratio is 92.24%.
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Several equities analysts have weighed in on PM shares. Jefferies Group LLC set a $111.00 target price on shares of Philip Morris International and gave the company a “hold” rating in a report on Wednesday, April 19th. Cowen and Company reiterated an “outperform” rating and issued a $120.00 target price on shares of Philip Morris International in a report on Wednesday, April 19th. Vetr upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating and set a $108.70 target price on the stock in a report on Thursday, April 20th. Stifel Nicolaus restated a “buy” rating and issued a $118.00 price objective on shares of Philip Morris International in a report on Sunday, April 23rd. Finally, Zacks Investment Research lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, April 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. Philip Morris International has a consensus rating of “Buy” and a consensus 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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