Miracle Mile Advisors LLC bought a new position in Philip Morris International Inc. (NYSE:PM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,245 shares of the company’s stock, valued at approximately $343,000.
Several other institutional investors and hedge funds have also recently modified their holdings of PM. Parallel Advisors LLC raised its position in Philip Morris International by 6.4% in the second quarter. Parallel Advisors LLC now owns 8,796 shares of the company’s stock valued at $1,027,000 after purchasing an additional 530 shares during the period. Strategic Financial Group LLC raised its position in Philip Morris International by 6.1% in the second quarter. Strategic Financial Group LLC now owns 3,429 shares of the company’s stock valued at $403,000 after purchasing an additional 197 shares during the period. Coho Partners Ltd. raised its position in Philip Morris International by 30.1% in the second quarter. Coho Partners Ltd. now owns 1,352,406 shares of the company’s stock valued at $158,840,000 after purchasing an additional 312,607 shares during the period. GHP Investment Advisors Inc. raised its position in Philip Morris International by 5.1% in the second quarter. GHP Investment Advisors Inc. now owns 4,276 shares of the company’s stock valued at $502,000 after purchasing an additional 207 shares during the period. Finally, Intrust Bank NA raised its position in Philip Morris International by 6.3% in the second quarter. Intrust Bank NA now owns 11,697 shares of the company’s stock valued at $1,374,000 after purchasing an additional 690 shares during the period. 72.33% of the stock is currently owned by institutional investors and hedge funds.
PM has been the topic of several research reports. Wells Fargo & Co reissued an “outperform” rating and issued a $135.00 price objective (down from $140.00) on shares of Philip Morris International in a research report on Wednesday, November 15th. Piper Jaffray Companies set a $130.00 price objective on Philip Morris International and gave the company a “buy” rating in a research report on Thursday, November 16th. Zacks Investment Research downgraded Philip Morris International from a “hold” rating to a “sell” rating in a research note on Monday, December 11th. Citigroup lowered their target price on Philip Morris International from $117.00 to $114.00 and set a “neutral” rating for the company in a research note on Tuesday, January 16th. Finally, Jefferies Group upgraded Philip Morris International from a “hold” rating to a “buy” rating and set a $124.00 target price for the company in a research note on Friday, January 19th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $124.57.
Shares of Philip Morris International Inc. (PM) opened at $108.30 on Monday. The firm has a market capitalization of $168,214.81, a PE ratio of 23.04, a PEG ratio of 2.03 and a beta of 0.85. Philip Morris International Inc. has a 52 week low of $96.66 and a 52 week high of $123.55. The company has a debt-to-equity ratio of -3.06, a quick ratio of 0.80 and a current ratio of 1.35.
Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, February 8th. The company reported $1.31 EPS for the quarter, missing the Zacks’ consensus estimate of $1.35 by ($0.04). The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.17 billion. Philip Morris International had a negative return on equity of 71.99% and a net margin of 7.73%. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter last year, the business posted $1.10 earnings per share. sell-side analysts predict that Philip Morris International Inc. will post 5.27 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 11th. Investors of record on Thursday, March 22nd will be paid a $1.07 dividend. The ex-dividend date is Wednesday, March 21st. This represents a $4.28 dividend on an annualized basis and a yield of 3.95%. Philip Morris International’s dividend payout ratio (DPR) is 110.59%.
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Philip Morris International Company 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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