Public Employees Retirement Association of Colorado decreased its holdings in Philip Morris International Inc. (NYSE:PM) by 16.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,160,110 shares of the company’s stock after selling 227,801 shares during the period. Public Employees Retirement Association of Colorado owned about 0.07% of Philip Morris International worth $88,087,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Philip Morris International by 1.0% in the second quarter. Vanguard Group Inc. now owns 125,492,442 shares of the company’s stock valued at $9,854,922,000 after acquiring an additional 1,295,745 shares in the last quarter. BlackRock Inc. lifted its position in shares of Philip Morris International by 5.1% in the second quarter. BlackRock Inc. now owns 100,831,956 shares of the company’s stock worth $7,918,335,000 after buying an additional 4,879,296 shares in the last quarter. Morgan Stanley lifted its position in shares of Philip Morris International by 16.9% in the second quarter. Morgan Stanley now owns 34,485,714 shares of the company’s stock worth $2,708,164,000 after buying an additional 4,998,070 shares in the last quarter. Invesco Ltd. lifted its position in shares of Philip Morris International by 41.5% in the second quarter. Invesco Ltd. now owns 30,080,523 shares of the company’s stock worth $2,362,224,000 after buying an additional 8,824,567 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Philip Morris International by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 16,736,970 shares of the company’s stock worth $1,314,354,000 after buying an additional 358,545 shares in the last quarter. 74.17% of the stock is owned by institutional investors and hedge funds.
NYSE PM traded up $1.32 during trading hours on Friday, hitting $83.57. 5,186,003 shares of the company were exchanged, compared to its average volume of 5,853,548. The stock has a 50-day moving average price of $78.81 and a 200 day moving average price of $80.34. Philip Morris International Inc. has a 52 week low of $64.67 and a 52 week high of $92.74. The stock has a market cap of $131.00 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 2.05 and a beta of 1.00.
Philip Morris International (NYSE:PM) last issued its quarterly earnings data 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. Philip Morris International had a negative return on equity of 82.33% and a net margin of 9.59%. The company had revenue of $7.64 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same period in the previous year, the firm posted $1.44 earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, analysts expect that Philip Morris International Inc. will post 5.23 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Wednesday, September 25th were paid 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 yield of 5.60%. The ex-dividend date of this dividend was Tuesday, September 24th. Philip Morris International’s payout ratio is presently 91.76%.
PM has been the topic of a number of research analyst reports. ValuEngine upgraded Philip Morris International from a “sell” rating to a “hold” rating in a research report on Saturday, October 19th. Barclays upgraded Philip Morris International from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $82.00 to $100.00 in a research report on Friday, July 19th. Credit Suisse Group set a $80.00 target price on Philip Morris International and gave the stock a “sell” rating in a research report on Wednesday, August 28th. Citigroup decreased their target price on Philip Morris International from $110.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Wells Fargo & Co decreased their target price on Philip Morris International from $102.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. Philip Morris International has a consensus rating of “Buy” and an average target price of $92.27.
About Philip Morris International
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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