Oppenheimer Asset Management Inc. acquired a new position in Philip Morris International Inc (NYSE:PM) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 176,768 shares of the company’s stock, valued at approximately $19,958,000. Philip Morris International makes up approximately 0.6% of Oppenheimer Asset Management Inc.’s portfolio, making the stock its 28th largest position.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Miles Capital Inc. acquired a new position in Philip Morris International during the fourth quarter valued at about $235,000. AE Wealth Management LLC acquired a new position in Philip Morris International during the fourth quarter valued at about $1,715,000. SNS Financial Group LLC boosted its position in Philip Morris International by 29.0% in the fourth quarter. SNS Financial Group LLC now owns 12,471 shares of the company’s stock valued at $1,141,000 after buying an additional 2,806 shares during the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new position in Philip Morris International during the fourth quarter valued at about $235,000. Finally, Access Financial Services Inc. acquired a new position in Philip Morris International during the fourth quarter valued at about $510,000. Hedge funds and other institutional investors own 72.45% of the company’s stock.
Shares of Philip Morris International Inc (PM) traded down 0.3857% during mid-day trading on Thursday, hitting $114.9649. The stock had a trading volume of 494,720 shares. The stock has a market cap of $178.56 billion, a price-to-earnings ratio of 25.4742 and a beta of 0.93. Philip Morris International Inc has a 12-month low of $86.78 and a 12-month high of $123.55. The firm’s 50-day moving average price is $117.87 and its 200 day moving average price is $112.78.
Philip Morris International (NYSE:PM) last released its earnings results on Thursday, July 20th. The company reported $1.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by $0.09. The firm had revenue of $6.92 billion during the quarter, compared to analyst estimates of $7.11 billion. Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the business posted $1.15 earnings per share. Equities analysts forecast that Philip Morris International Inc will post $4.83 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 11th. Stockholders of record on Friday, June 23rd were paid a $1.04 dividend. The ex-dividend date was Wednesday, June 21st. This represents a $4.16 annualized dividend and a dividend yield of 3.60%. Philip Morris International’s dividend payout ratio (DPR) is currently 92.24%.
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Several research analysts have recently issued reports on PM shares. TheStreet raised Philip Morris International from a “c+” rating to a “b-” rating in a research note on Thursday, July 20th. Zacks Investment Research cut Philip Morris International from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Berenberg Bank set a $96.00 price target on Philip Morris International and gave the stock a “hold” rating in a research note on Saturday, June 24th. Vetr raised Philip Morris International from a “sell” rating to a “hold” rating and set a $111.99 price target for the company in a research note on Tuesday, May 16th. Finally, Wells Fargo & Company reissued an “outperform” rating on shares of Philip Morris International in a research note on Friday, June 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average 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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