Diversified Trust Co lowered its stake in Philip Morris International Inc. (NYSE:PM) by 14.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,235 shares of the company’s stock after selling 690 shares during the period. Diversified Trust Co’s holdings in Philip Morris International were worth $322,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Titan Capital Management LLC CA acquired a new stake in shares of Philip Morris International during the second quarter valued at about $30,000. River & Mercantile Asset Management LLP acquired a new stake in shares of Philip Morris International during the second quarter valued at about $32,000. Manchester Financial Inc. acquired a new stake in shares of Philip Morris International during the second quarter valued at about $36,000. Brand Asset Management Group Inc. boosted its stake in shares of Philip Morris International by 34.9% during the second quarter. Brand Asset Management Group Inc. now owns 472 shares of the company’s stock valued at $37,000 after purchasing an additional 122 shares in the last quarter. Finally, Prestige Wealth Management Group LLC acquired a new stake in shares of Philip Morris International during the second quarter valued at about $38,000. Institutional investors own 74.11% of the company’s stock.
A number of equities research analysts have weighed in on the company. Barclays upgraded Philip Morris International from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $82.00 to $100.00 in a 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 report on Wednesday, August 28th. Wells Fargo & Co set a $102.00 target price on Philip Morris International and gave the stock a “buy” rating in a report on Monday, August 26th. Morgan Stanley lowered their target price on Philip Morris International from $94.00 to $86.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Finally, ValuEngine downgraded Philip Morris International from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $93.92.
Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, July 18th. The company reported $1.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.13. The firm had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.42 billion. Philip Morris International had a negative return on equity of 80.96% and a net margin of 10.03%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.41 earnings per share. On average, equities analysts expect that Philip Morris International Inc. will post 5.2 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Wednesday, September 25th will be issued a dividend of $1.17 per share. This is an increase from Philip Morris International’s previous quarterly dividend of $1.14. The ex-dividend date is Tuesday, September 24th. This represents a $4.68 annualized dividend and a dividend yield of 6.02%. Philip Morris International’s payout ratio is currently 91.76%.
In other news, insider Mario Masseroli sold 1,100 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $87.42, for a total transaction of $96,162.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.21% of the company’s stock.
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.
Further Reading: Understanding the Price to Earnings Ratio (PE)
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