Peoples Financial Services CORP. reduced its stake in Philip Morris International Inc. (NYSE:PM – Free Report) by 4.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,919 shares of the company’s stock after selling 250 shares during the period. Peoples Financial Services CORP.’s holdings in Philip Morris International were worth $578,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Optiver Holding B.V. bought a new position in Philip Morris International during the fourth quarter worth about $29,000. Stone House Investment Management LLC bought a new position in Philip Morris International during the first quarter worth about $29,000. BOK Financial Private Wealth Inc. bought a new position in Philip Morris International during the first quarter worth about $32,000. Barrett & Company Inc. bought a new position in Philip Morris International during the first quarter worth about $32,000. Finally, FSC Wealth Advisors LLC lifted its holdings in Philip Morris International by 75.0% during the first quarter. FSC Wealth Advisors LLC now owns 350 shares of the company’s stock worth $34,000 after acquiring an additional 150 shares in the last quarter. 79.70% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research analysts have weighed in on PM shares. 22nd Century Group reiterated a “reiterates” rating on shares of Philip Morris International in a report on Tuesday, June 27th. Jefferies Financial Group cut their price target on Philip Morris International from $113.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, August 22nd. Citigroup upgraded Philip Morris International from a “neutral” rating to a “buy” rating and boosted their price target for the company from $109.00 to $117.00 in a report on Tuesday, June 20th. Finally, StockNews.com initiated coverage on Philip Morris International in a report on Thursday, August 17th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and a consensus target price of $110.70.
Philip Morris International Trading Down 0.5 %
NYSE PM traded down $0.52 on Friday, hitting $95.79. 6,932,697 shares of the company’s stock were exchanged, compared to its average volume of 3,027,615. The stock has a 50-day moving average of $96.49 and a 200-day moving average of $96.06. Philip Morris International Inc. has a 52 week low of $82.85 and a 52 week high of $105.62. The stock has a market cap of $148.70 billion, a price-to-earnings ratio of 18.53, a P/E/G ratio of 2.02 and a beta of 0.71.
Philip Morris International (NYSE:PM – Get Free Report) last released its earnings results on Thursday, July 20th. The company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.10. Philip Morris International had a negative return on equity of 127.84% and a net margin of 11.63%. The firm had revenue of $8.97 billion during the quarter, compared to analysts’ expectations of $8.76 billion. During the same period in the prior year, the company earned $1.48 earnings per share. The company’s quarterly revenue was up 14.5% on a year-over-year basis. As a group, analysts predict that Philip Morris International Inc. will post 6.19 earnings per share for the current year.
Philip Morris International Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Wednesday, September 27th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.43%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Tuesday, September 26th. Philip Morris International’s dividend payout ratio is presently 98.26%.
Philip Morris International Profile
Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.
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