Continental Investors Services Inc. Acquires New Holdings in Philip Morris International Inc. (NYSE:PM)

Continental Investors Services Inc. bought a new position in Philip Morris International Inc. (NYSE:PM – Get Rating) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,160 shares of the company’s stock, valued at approximately $397,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Mark Sheptoff Financial Planning LLC bought a new position in shares of Philip Morris International in the 3rd quarter worth approximately $25,000. Asset Dedication LLC purchased a new stake in Philip Morris International during the third quarter valued at approximately $36,000. EdgeRock Capital LLC bought a new position in Philip Morris International in the third quarter worth approximately $39,000. Annapolis Financial Services LLC boosted its stake in shares of Philip Morris International by 188.8% during the 3rd quarter. Annapolis Financial Services LLC now owns 488 shares of the company’s stock worth $41,000 after acquiring an additional 319 shares during the last quarter. Finally, American National Bank grew its position in shares of Philip Morris International by 31.3% during the 3rd quarter. American National Bank now owns 508 shares of the company’s stock valued at $42,000 after acquiring an additional 121 shares during the period. 75.85% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Price Performance

Shares of PM opened at $94.79 on Friday. The stock has a market capitalization of $146.95 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 3.06 and a beta of 0.69. Philip Morris International Inc. has a 1 year low of $82.85 and a 1 year high of $109.81. The business’s 50 day simple moving average is $100.69 and its 200-day simple moving average is $96.75.

Philip Morris International (NYSE:PM – Get Rating) last released its quarterly earnings results on Thursday, February 9th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.10. Philip Morris International had a net margin of 11.22% and a negative return on equity of 127.24%. The company had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $7.54 billion. During the same quarter in the prior year, the firm earned $1.35 earnings per share. Philip Morris International’s revenue was up .6% on a year-over-year basis. On average, sell-side analysts expect that Philip Morris International Inc. will post 6.29 earnings per share for the current year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 11th. Shareholders of record on Thursday, March 23rd will be paid a dividend of $1.27 per share. The ex-dividend date is Wednesday, March 22nd. This represents a $5.08 annualized dividend and a yield of 5.36%. Philip Morris International’s payout ratio is currently 87.44%.

Insider Buying and Selling at Philip Morris International

In other news, insider Werner Barth sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $98.35, for a total transaction of $786,800.00. Following the transaction, the insider now owns 87,321 shares of the company’s stock, valued at approximately $8,588,020.35. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Philip Morris International news, insider Stacey Kennedy sold 20,308 shares of the firm’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $100.30, for a total value of $2,036,892.40. Following the completion of the sale, the insider now owns 22,418 shares of the company’s stock, valued at $2,248,525.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Werner Barth sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $98.35, for a total value of $786,800.00. Following the transaction, the insider now directly owns 87,321 shares in the company, valued at approximately $8,588,020.35. The disclosure for this sale can be found here. Insiders have sold a total of 117,064 shares of company stock worth $11,738,763 over the last ninety days. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Societe Generale began coverage on Philip Morris International in a report on Monday, January 23rd. They issued a “sell” rating and a $90.00 target price on the stock. The Goldman Sachs Group upgraded Philip Morris International from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $95.00 to $120.00 in a research note on Wednesday, January 25th. StockNews.com assumed coverage on shares of Philip Morris International in a research note on Thursday. They set a “hold” rating on the stock. Citigroup reiterated a “neutral” rating and issued a $109.00 price target on shares of Philip Morris International in a research report on Tuesday, December 13th. Finally, Morgan Stanley raised their price objective on shares of Philip Morris International from $109.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, February 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $109.73.

Philip Morris International Company Profile

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Philip Morris International, Inc is a holding company engaged in the manufacturing and sale of cigarettes, tobacco, and nicotine-containing products. Its products include cigarettes and reduced-risk products, including heat-not-burn, vapor, and oral nicotine products. The firm operates through the following geographical segments: European Union, Eastern Europe, Middle East and Africa, South and Southeast Asia, East Asia and Australia, and Americas.