Oppenheimer & Co. Inc. Decreases Stake in Philip Morris International Inc (PM)
Oppenheimer & Co. Inc. decreased its stake in Philip Morris International Inc (NYSE:PM) by 1.5% during the first quarter, Holdings Channel reports. The fund owned 126,898 shares of the company’s stock after selling 1,986 shares during the period. Oppenheimer & Co. Inc.’s holdings in Philip Morris International were worth $14,327,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of PM. Miles Capital Inc. acquired a new stake in Philip Morris International during the fourth quarter valued at approximately $235,000. AE Wealth Management LLC acquired a new stake in Philip Morris International during the fourth quarter valued at approximately $1,715,000. SNS Financial Group LLC raised its stake in Philip Morris International by 29.0% in the fourth quarter. SNS Financial Group LLC now owns 12,471 shares of the company’s stock valued at $1,141,000 after buying an additional 2,806 shares during the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new stake in Philip Morris International during the fourth quarter valued at approximately $235,000. Finally, Access Financial Services Inc. acquired a new stake in Philip Morris International during the fourth quarter valued at approximately $510,000. 72.45% of the stock is currently owned by institutional investors and hedge funds.
Philip Morris International Inc (NYSE PM) traded down 0.37% on Thursday, hitting $114.98. 493,829 shares of the stock traded hands. The company has a market capitalization of $178.59 billion, a PE ratio of 25.48 and a beta of 0.93. The firm has a 50-day moving average price of $117.87 and a 200-day moving average price of $112.78. Philip Morris International Inc has a 12 month low of $86.78 and a 12 month high of $123.55.
Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, July 20th. The company reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by $0.09. Philip Morris International had a negative return on equity of 66.18% and a net margin of 9.36%. The business had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $7.11 billion. During the same period in the prior year, the business posted $1.15 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. Analysts forecast that Philip Morris International Inc will post $4.83 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 11th. Shareholders of record on Friday, June 23rd were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Wednesday, June 21st. Philip Morris International’s dividend payout ratio is presently 92.24%.
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PM has been the subject of several recent analyst reports. Jefferies Group LLC set a $111.00 target price on shares of Philip Morris International and gave the stock a “hold” rating in a report on Wednesday, April 19th. Cowen and Company reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Philip Morris International in a report on Wednesday, April 19th. Vetr raised shares of Philip Morris International from a “sell” rating to a “hold” rating and set a $108.70 target price for the company in a report on Thursday, April 20th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $118.00 target price on shares of Philip Morris International in a report on Sunday, April 23rd. Finally, Zacks Investment Research cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, April 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $122.00.
About Philip Morris International
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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