Narwhal Capital Management grew its position in Philip Morris International Inc. (NYSE:PM) by 6.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,440 shares of the company’s stock after acquiring an additional 2,150 shares during the quarter. Narwhal Capital Management’s holdings in Philip Morris International were worth $4,045,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of PM. Hourglass Capital LLC boosted its position in shares of Philip Morris International by 0.9% in the 2nd quarter. Hourglass Capital LLC now owns 76,258 shares of the company’s stock worth $8,957,000 after purchasing an additional 650 shares during the last quarter. WFG Advisors LP boosted its position in shares of Philip Morris International by 30.1% in the 2nd quarter. WFG Advisors LP now owns 12,753 shares of the company’s stock worth $1,498,000 after purchasing an additional 2,951 shares during the last quarter. Wedbush Securities Inc. boosted its position in shares of Philip Morris International by 28.0% in the 2nd quarter. Wedbush Securities Inc. now owns 18,832 shares of the company’s stock worth $2,212,000 after purchasing an additional 4,123 shares during the last quarter. Suffolk Capital Management LLC bought a new position in shares of Philip Morris International in the 2nd quarter worth $12,928,000. Finally, Fundsmith LLP lifted its holdings in Philip Morris International by 1.5% during the second quarter. Fundsmith LLP now owns 5,240,912 shares of the company’s stock worth $615,545,000 after acquiring an additional 79,106 shares in the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on the company. Zacks Investment Research downgraded Philip Morris International from a “hold” rating to a “sell” rating in a research report on Tuesday, October 24th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $130.00 target price on shares of Philip Morris International in a research report on Sunday, October 22nd. Goldman Sachs Group raised Philip Morris International from a “buy” rating to a “conviction-buy” rating and set a $135.00 price target on the stock in a research report on Thursday, September 28th. Wells Fargo & Co reissued an “outperform” rating and set a $140.00 price target on shares of Philip Morris International in a research report on Tuesday, October 10th. Finally, Jefferies Group reissued a “hold” rating and set a $120.00 price target on shares of Philip Morris International in a research report on Thursday, September 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $124.23.
Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Thursday, October 19th. The company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.11). The company had revenue of $7.50 billion for the quarter, compared to analyst estimates of $7.75 billion. Philip Morris International had a negative return on equity of 67.59% and a net margin of 9.32%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the company posted $1.25 earnings per share. equities analysts expect that Philip Morris International Inc. will post 4.75 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Investors of record on Thursday, December 21st will be issued a $1.07 dividend. The ex-dividend date is Wednesday, December 20th. This represents a $4.28 dividend on an annualized basis and a yield of 4.08%. Philip Morris International’s payout ratio is 94.48%.
In other Philip Morris International news, Chairman Louis C. Camilleri sold 108,979 shares of the company’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $108.38, for a total transaction of $11,811,144.02. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.23% of the company’s stock.
Philip Morris International 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.
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