Philip Morris International Inc. (PM) Holdings Boosted by Pitcairn Co.
Pitcairn Co. raised its position in Philip Morris International Inc. (NYSE:PM) by 57.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,777 shares of the company’s stock after buying an additional 6,829 shares during the quarter. Pitcairn Co.’s holdings in Philip Morris International were worth $1,254,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC bought a new stake in shares of Philip Morris International during the 4th quarter valued at approximately $27,000. Transamerica Financial Advisors Inc. grew its holdings in shares of Philip Morris International by 552.8% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 470 shares of the company’s stock valued at $32,000 after purchasing an additional 398 shares during the last quarter. Clean Yield Group bought a new stake in shares of Philip Morris International during the 4th quarter valued at approximately $37,000. Litman Gregory Asset Management LLC bought a new stake in shares of Philip Morris International during the 4th quarter valued at approximately $40,000. Finally, Vigilant Capital Management LLC grew its holdings in shares of Philip Morris International by 195.6% during the 4th quarter. Vigilant Capital Management LLC now owns 665 shares of the company’s stock valued at $44,000 after purchasing an additional 440 shares during the last quarter. 73.58% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have weighed in on PM. Bank of America set a $74.00 target price on shares of Philip Morris International and gave the stock a “sell” rating in a report on Tuesday. Citigroup boosted their target price on shares of Philip Morris International from $90.00 to $102.00 and gave the stock a “buy” rating in a report on Monday. Zacks Investment Research raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a report on Thursday, February 14th. ValuEngine raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Finally, Piper Jaffray Companies set a $100.00 target price on shares of Philip Morris International and gave the stock a “buy” rating in a report on Friday, February 8th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $91.00.
PM opened at $88.59 on Wednesday. Philip Morris International Inc. has a fifty-two week low of $64.67 and a fifty-two week high of $103.55. The company has a market cap of $137.33 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 1.83 and a beta of 0.95.
Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, February 7th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.09. The firm had revenue of $7.50 billion for the quarter, compared to the consensus estimate of $7.46 billion. Philip Morris International had a net margin of 9.90% and a negative return on equity of 76.82%. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.32 EPS. On average, equities analysts predict that Philip Morris International Inc. will post 5.38 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Tuesday, March 26th will be given a $1.14 dividend. The ex-dividend date of this dividend is Monday, March 25th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.15%. Philip Morris International’s dividend payout ratio (DPR) is currently 89.41%.
Philip Morris International Company 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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