CIBC Asset Management Inc Has $21.27 Million Stake in Philip Morris International Inc. (PM)
CIBC Asset Management Inc increased its position in Philip Morris International Inc. (NYSE:PM) by 2.2% in the third quarter, Holdings Channel reports. The fund owned 191,623 shares of the company’s stock after purchasing an additional 4,183 shares during the period. CIBC Asset Management Inc’s holdings in Philip Morris International were worth $21,272,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Guidant Wealth Advisors raised its holdings in Philip Morris International by 25.5% in the 2nd quarter. Guidant Wealth Advisors now owns 939 shares of the company’s stock worth $110,000 after acquiring an additional 191 shares during the last quarter. Vantage Investment Advisors LLC raised its stake in Philip Morris International by 1.0% during the 2nd quarter. Vantage Investment Advisors LLC now owns 1,033 shares of the company’s stock valued at $121,000 after buying an additional 10 shares during the last quarter. Acropolis Investment Management LLC raised its stake in Philip Morris International by 0.5% during the 2nd quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock valued at $123,000 after buying an additional 5 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in Philip Morris International by 13.9% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,230 shares of the company’s stock valued at $144,000 after buying an additional 150 shares during the last quarter. Finally, Mountain Capital Investment Advisors Inc purchased a new stake in Philip Morris International during the 2nd quarter valued at $145,000. Institutional investors own 72.36% of the company’s stock.
Shares of Philip Morris International Inc. (NYSE PM) opened at $104.14 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 1.13 and a debt-to-equity ratio of -2.91. The company has a market capitalization of $161,750.00, a price-to-earnings ratio of 22.99, a PEG ratio of 1.88 and a beta of 0.89. Philip Morris International Inc. has a 12 month low of $89.97 and a 12 month high of $123.55.
Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, October 19th. The company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.11). The company had revenue of $7.50 billion during the quarter, compared to analysts’ expectations of $7.75 billion. Philip Morris International had a negative return on equity of 67.59% and a net margin of 9.32%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the company earned $1.25 earnings per share. research analysts anticipate that Philip Morris International Inc. will post 4.75 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Thursday, December 21st will be paid a $1.07 dividend. The ex-dividend date of this dividend is Wednesday, December 20th. This represents a $4.28 annualized dividend and a dividend yield of 4.11%. Philip Morris International’s dividend payout ratio (DPR) is 94.48%.
A number of equities research analysts have weighed in on PM shares. Zacks Investment Research upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. Wells Fargo & Co reiterated an “outperform” rating and set a $140.00 target price on shares of Philip Morris International in a research note on Tuesday, October 10th. Goldman Sachs Group upgraded shares of Philip Morris International from a “buy” rating to a “conviction-buy” rating and set a $135.00 target price for the company in a research note on Thursday, September 28th. Piper Jaffray Companies set a $130.00 target price on shares of Philip Morris International and gave the company a “buy” rating in a research note on Thursday, November 16th. Finally, Bank of America decreased their target price on shares of Philip Morris International from $124.00 to $121.00 and set a “neutral” rating for the company in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $124.23.
In other news, Chairman Louis C. Camilleri sold 108,979 shares of the company’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $108.38, for a total value of $11,811,144.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.23% of the company’s stock.
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Philip Morris International Company Profile
Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.
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