Ingalls & Snyder LLC lowered its stake in shares of Philip Morris International Inc. (NYSE:PM) by 9.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,939 shares of the company’s stock after selling 1,820 shares during the quarter. Ingalls & Snyder LLC’s holdings in Philip Morris International were worth $1,526,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Pictet Asset Management Ltd. increased its holdings in shares of Philip Morris International by 4.4% in the 2nd quarter. Pictet Asset Management Ltd. now owns 1,051,094 shares of the company’s stock valued at $82,542,000 after purchasing an additional 43,846 shares during the period. Rampart Investment Management Company LLC increased its holdings in shares of Philip Morris International by 4.7% in the 2nd quarter. Rampart Investment Management Company LLC now owns 20,293 shares of the company’s stock valued at $1,594,000 after purchasing an additional 919 shares during the period. Private Portfolio Partners LLC increased its holdings in shares of Philip Morris International by 93.5% in the 2nd quarter. Private Portfolio Partners LLC now owns 7,434 shares of the company’s stock valued at $584,000 after purchasing an additional 3,592 shares during the period. Gladstone Institutional Advisory LLC acquired a new position in shares of Philip Morris International in the 2nd quarter valued at about $283,000. Finally, Algert Global LLC increased its holdings in shares of Philip Morris International by 32.7% in the 2nd quarter. Algert Global LLC now owns 9,722 shares of the company’s stock valued at $763,000 after purchasing an additional 2,394 shares during the period. 73.05% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently weighed in on the company. Citigroup downgraded Philip Morris International from a “buy” rating to a “neutral” rating and set a $90.00 target price on the stock. in a report on Monday, December 2nd. ValuEngine downgraded Philip Morris International from a “sell” rating to a “strong sell” rating in a report on Friday, January 10th. Wells Fargo & Co dropped their target price on Philip Morris International from $102.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Stifel Nicolaus reiterated a “buy” rating on shares of Philip Morris International in a report on Tuesday, October 15th. Finally, Bank of America raised Philip Morris International from a “neutral” rating to a “buy” rating and set a $96.00 price target for the company in a research note on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $95.17.
Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Thursday, October 17th. The company reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.08. The business had revenue of $7.64 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Philip Morris International had a negative return on equity of 82.33% and a net margin of 9.59%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.44 EPS. Analysts predict that Philip Morris International Inc. will post 5.2 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, December 19th were paid a $1.17 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $4.68 annualized dividend and a dividend yield of 5.30%. Philip Morris International’s payout ratio is 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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