Envestnet Asset Management Inc. lessened its holdings in Philip Morris International Inc. (NYSE:PM) by 5.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,160,850 shares of the company’s stock after selling 71,066 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.07% of Philip Morris International worth $88,143,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Willingdon Wealth Management boosted its position in Philip Morris International by 0.9% during the second quarter. Willingdon Wealth Management now owns 13,656 shares of the company’s stock worth $1,072,000 after purchasing an additional 119 shares during the period. Brand Asset Management Group Inc. boosted its position in shares of Philip Morris International by 34.9% in the second quarter. Brand Asset Management Group Inc. now owns 472 shares of the company’s stock valued at $37,000 after acquiring an additional 122 shares during the period. Capital City Trust Co. FL boosted its position in shares of Philip Morris International by 1.1% in the second quarter. Capital City Trust Co. FL now owns 11,041 shares of the company’s stock valued at $867,000 after acquiring an additional 125 shares during the period. MCF Advisors LLC boosted its position in shares of Philip Morris International by 26.7% in the second quarter. MCF Advisors LLC now owns 603 shares of the company’s stock valued at $47,000 after acquiring an additional 127 shares during the period. Finally, Smith Moore & CO. boosted its position in shares of Philip Morris International by 1.8% in the second quarter. Smith Moore & CO. now owns 7,675 shares of the company’s stock valued at $603,000 after acquiring an additional 133 shares during the period. 74.17% of the stock is currently owned by institutional investors.
PM has been the subject of a number of recent research reports. Credit Suisse Group set a $80.00 target price on shares of Philip Morris International and gave the company a “sell” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. set a $86.00 price target on Philip Morris International and gave the company a “neutral” rating in a research note on Wednesday, August 28th. Wells Fargo & Co dropped their price target on Philip Morris International from $102.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. ValuEngine raised Philip Morris International from a “sell” rating to a “hold” rating in a research note on Saturday, October 19th. Finally, Citigroup dropped their price target on Philip Morris International from $110.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $92.27.
NYSE PM traded up $1.32 during trading on Friday, hitting $83.57. 5,186,003 shares of the company’s stock were exchanged, compared to its average volume of 5,853,548. The company has a market cap of $131.00 billion, a PE ratio of 16.39, a P/E/G ratio of 2.05 and a beta of 1.00. The stock’s 50 day moving average price is $78.81 and its two-hundred day moving average price is $80.34. Philip Morris International Inc. has a fifty-two week low of $64.67 and a fifty-two week high of $92.74.
Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, October 17th. The company reported $1.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.08. The company had revenue of $7.64 billion for the quarter, compared to analysts’ expectations of $7.65 billion. Philip Morris International had a negative return on equity of 82.33% and a net margin of 9.59%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.44 earnings per share. On average, equities analysts predict that Philip Morris International Inc. will post 5.23 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Wednesday, September 25th were issued a dividend of $1.17 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.14. This represents a $4.68 annualized dividend and a dividend yield of 5.60%. The ex-dividend date was Tuesday, September 24th. Philip Morris International’s payout ratio is 91.76%.
Philip Morris International Profile
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.
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