Norris Perne & French LLP MI lessened its holdings in Philip Morris International Inc. (NYSE:PM) by 8.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 7,544 shares of the company’s stock after selling 735 shares during the period. Norris Perne & French LLP MI’s holdings in Philip Morris International were worth $592,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Montag A & Associates Inc. increased its stake in Philip Morris International by 0.6% during the 1st quarter. Montag A & Associates Inc. now owns 18,782 shares of the company’s stock valued at $1,660,000 after purchasing an additional 120 shares in the last quarter. NBT Bank N A NY increased its stake in Philip Morris International by 0.3% during the 1st quarter. NBT Bank N A NY now owns 41,531 shares of the company’s stock valued at $3,671,000 after purchasing an additional 120 shares in the last quarter. OLD Point Trust & Financial Services N A increased its stake in Philip Morris International by 0.8% during the 1st quarter. OLD Point Trust & Financial Services N A now owns 15,397 shares of the company’s stock valued at $1,361,000 after purchasing an additional 125 shares in the last quarter. Farmers & Merchants Investments Inc. increased its stake in shares of Philip Morris International by 4.1% in the first quarter. Farmers & Merchants Investments Inc. now owns 3,283 shares of the company’s stock worth $290,000 after acquiring an additional 128 shares during the period. Finally, Shine Investment Advisory Services Inc. increased its stake in shares of Philip Morris International by 10.1% in the first quarter. Shine Investment Advisory Services Inc. now owns 1,448 shares of the company’s stock worth $128,000 after acquiring an additional 133 shares during the period. 73.48% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Michael R. Kunst purchased 1,000 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were purchased at an average cost of $79.66 per share, with a total value of $79,660.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mario Masseroli sold 1,100 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $87.42, for a total transaction of $96,162.00. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.
A number of analysts have recently weighed in on PM shares. Bank of America set a $120.00 price objective on shares of Walmart and gave the stock a “buy” rating in a research note on Friday, May 17th. ValuEngine lowered shares of United Rentals from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 18th. Zacks Investment Research upgraded shares of Investors Real Estate Trust Reit from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Barclays set a $89.00 price objective on shares of Franco Nevada and gave the stock a “hold” rating in a research note on Friday, July 19th. Finally, Societe Generale upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. Philip Morris International currently has a consensus rating of “Buy” and an average price target of $93.92.
Shares of NYSE:PM traded down $1.03 during midday trading on Tuesday, reaching $85.73. The company’s stock had a trading volume of 80,569 shares, compared to its average volume of 4,452,253. The firm has a market capitalization of $132.75 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 2.10 and a beta of 0.96. Philip Morris International Inc. has a twelve month low of $64.67 and a twelve month high of $92.74. The firm has a fifty day moving average price of $80.92.
Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Thursday, July 18th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.13. Philip Morris International had a net margin of 10.03% and a negative return on equity of 80.96%. The firm had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.42 billion. During the same period in the prior year, the firm posted $1.41 earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year. Equities analysts forecast that Philip Morris International Inc. will post 5.21 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 21st were issued a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a yield of 5.32%. The ex-dividend date of this dividend was Thursday, June 20th. Philip Morris International’s dividend payout ratio (DPR) is presently 89.41%.
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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