Relyea Zuckerberg Hanson LLC bought a new position in Philip Morris International Inc. (NYSE:PM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,565 shares of the company’s stock, valued at approximately $218,000.
Other hedge funds also recently modified their holdings of the company. Strategic Blueprint LLC purchased a new stake in shares of Philip Morris International in the 3rd quarter worth $30,000. River & Mercantile Asset Management LLP purchased a new position in Philip Morris International during the second quarter valued at $32,000. NewSquare Capital LLC lifted its position in Philip Morris International by 205.2% during the fourth quarter. NewSquare Capital LLC now owns 409 shares of the company’s stock valued at $35,000 after purchasing an additional 275 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in Philip Morris International during the third quarter valued at $37,000. Finally, Prestige Wealth Management Group LLC bought a new stake in Philip Morris International during the second quarter valued at about $38,000. Institutional investors own 73.05% of the company’s stock.
Several research firms recently issued reports on PM. Citigroup lowered shares of Philip Morris International from a “buy” rating to a “neutral” rating and set a $90.00 target price for the company. in a report on Monday, December 2nd. Morgan Stanley lifted their price target on shares of Philip Morris International from $92.00 to $99.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Piper Jaffray Companies reissued an “overweight” rating on shares of Philip Morris International in a research note on Wednesday, January 8th. Wells Fargo & Co decreased their price objective on shares of 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. Finally, ValuEngine cut shares of Philip Morris International from a “sell” rating to a “strong sell” rating in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. Philip Morris International has a consensus rating of “Hold” and an average price target of $95.17.
Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, October 17th. The company reported $1.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.08. The firm had revenue of $7.64 billion during the quarter, compared to analyst estimates of $7.65 billion. Philip Morris International had a net margin of 9.59% and a negative return on equity of 82.33%. Philip Morris International’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.44 earnings per share. Sell-side analysts expect that Philip Morris International Inc. will post 5.2 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 19th were issued a $1.17 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $4.68 dividend on an annualized basis and a yield of 5.30%. Philip Morris International’s dividend payout ratio is currently 91.76%.
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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