Costello Asset Management INC Takes Position in Philip Morris International Inc. (PM)

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Costello Asset Management INC purchased a new position in shares of Philip Morris International Inc. (NYSE:PM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 18,235 shares of the company’s stock, valued at approximately $1,217,000. Philip Morris International comprises approximately 1.6% of Costello Asset Management INC’s holdings, making the stock its 21st biggest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Philip Morris International by 1.3% in the third quarter. Vanguard Group Inc. now owns 118,890,424 shares of the company’s stock valued at $9,694,325,000 after purchasing an additional 1,516,211 shares during the period. Vanguard Group Inc lifted its position in Philip Morris International by 1.3% in the third quarter. Vanguard Group Inc now owns 118,890,424 shares of the company’s stock valued at $9,694,325,000 after purchasing an additional 1,516,211 shares during the period. BlackRock Inc. lifted its position in Philip Morris International by 5.1% in the fourth quarter. BlackRock Inc. now owns 95,049,723 shares of the company’s stock valued at $6,345,520,000 after purchasing an additional 4,576,645 shares during the period. Capital Research Global Investors lifted its position in Philip Morris International by 11.0% in the third quarter. Capital Research Global Investors now owns 46,383,194 shares of the company’s stock valued at $3,782,086,000 after purchasing an additional 4,613,349 shares during the period. Finally, Capital International Investors lifted its position in Philip Morris International by 325.0% in the third quarter. Capital International Investors now owns 33,897,955 shares of the company’s stock valued at $2,764,039,000 after purchasing an additional 25,922,397 shares during the period. 74.45% of the stock is currently owned by hedge funds and other institutional investors.

PM stock opened at $89.79 on Friday. Philip Morris International Inc. has a 12-month low of $64.67 and a 12-month high of $105.80. The company has a market cap of $138.98 billion, a PE ratio of 17.61, a P/E/G ratio of 1.85 and a beta of 0.95.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, February 7th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.09. Philip Morris International had a net margin of 9.90% and a negative return on equity of 76.82%. The company had revenue of $7.50 billion during the quarter, compared to the consensus estimate of $7.46 billion. During the same period last year, the firm earned $1.32 EPS. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. Sell-side analysts anticipate that Philip Morris International Inc. will post 5.36 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Tuesday, March 26th will be given a dividend of $1.14 per share. The ex-dividend date of this dividend is Monday, March 25th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.08%. Philip Morris International’s payout ratio is 89.41%.

In other news, CEO Andre Calantzopoulos sold 50,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $84.76, for a total transaction of $4,238,000.00. Following the completion of the sale, the chief executive officer now directly owns 844,901 shares in the company, valued at approximately $71,613,808.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.22% of the stock is currently owned by company insiders.

A number of equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Thursday, February 14th. Piper Jaffray Companies set a $100.00 price objective on shares of Philip Morris International and gave the company a “buy” rating in a research report on Friday, February 8th. ValuEngine downgraded shares of Philip Morris International from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. Morgan Stanley reduced their price objective on shares of Philip Morris International from $102.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, January 8th. Finally, UBS Group upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and raised their price objective for the company from $86.00 to $101.00 in a research report on Wednesday, February 27th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. Philip Morris International has a consensus rating of “Hold” and a consensus price target of $91.86.

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Philip Morris International Company 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.

Further Reading: Understanding Relative Strength Index

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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