Gilbert & Cook Inc. reduced its position in Philip Morris International Inc. (NYSE:PM) by 5.2% in the third quarter, Holdings Channel.com reports. The firm owned 6,748 shares of the company’s stock after selling 367 shares during the quarter. Gilbert & Cook Inc.’s holdings in Philip Morris International were worth $512,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of PM. Titan Capital Management LLC CA purchased a new stake in Philip Morris International during the 2nd quarter valued at about $30,000. Strategic Blueprint LLC bought a new position in Philip Morris International during the 3rd quarter valued at approximately $30,000. River & Mercantile Asset Management LLP bought a new position in Philip Morris International during the 2nd quarter valued at approximately $32,000. Manchester Financial Inc. bought a new position in Philip Morris International during the 2nd quarter valued at approximately $36,000. Finally, Brand Asset Management Group Inc. raised its position in Philip Morris International by 34.9% during the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 74.17% of the company’s stock.
PM has been the subject of a number of recent analyst reports. 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 report on Tuesday, October 1st. Credit Suisse Group set a $80.00 price target on Philip Morris International and gave the company a “sell” rating in a research report on Wednesday, August 28th. Wells Fargo & Co lowered their price target on Philip Morris International from $102.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Citigroup lowered their price target on Philip Morris International from $110.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. set a $86.00 price target on Philip Morris International and gave the company a “neutral” rating in a research report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $92.27.
Shares of NYSE:PM traded up $1.32 during trading on Friday, hitting $83.57. The stock had a trading volume of 5,186,003 shares, compared to its average volume of 5,853,548. Philip Morris International Inc. has a 12 month low of $64.67 and a 12 month high of $92.74. The company has a market capitalization of $131.00 billion, a PE ratio of 16.39, a PEG ratio of 2.05 and a beta of 1.00. The firm’s fifty day moving average is $78.81 and its 200 day moving average is $80.34.
Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, October 17th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.08. Philip Morris International had a negative return on equity of 82.33% and a net margin of 9.59%. The firm had revenue of $7.64 billion during the quarter, compared to analyst estimates of $7.65 billion. During the same quarter in the prior year, the company earned $1.44 EPS. The business’s revenue was up 1.8% compared to the same quarter last year. As a group, equities analysts expect that Philip Morris International Inc. will post 5.23 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Wednesday, September 25th were given a $1.17 dividend. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $4.68 annualized dividend and a dividend yield of 5.60%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.14. Philip Morris International’s dividend payout ratio is currently 91.76%.
Philip Morris International Profile
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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