Stearns Financial Services Group Reduces Holdings in Philip Morris International Inc. (PM)
Stearns Financial Services Group trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 9.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,265 shares of the company’s stock after selling 1,009 shares during the period. Stearns Financial Services Group’s holdings in Philip Morris International were worth $1,029,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of PM. Guidant Wealth Advisors increased its holdings in shares of 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 period. Vantage Investment Advisors LLC increased its holdings in shares of Philip Morris International by 1.0% in the 2nd quarter. Vantage Investment Advisors LLC now owns 1,033 shares of the company’s stock worth $121,000 after acquiring an additional 10 shares during the period. Acropolis Investment Management LLC increased its holdings in shares of Philip Morris International by 0.5% in the 2nd quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock worth $123,000 after acquiring an additional 5 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in shares of Philip Morris International by 13.9% in the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,230 shares of the company’s stock worth $144,000 after acquiring an additional 150 shares during the period. Finally, Mountain Capital Investment Advisors Inc acquired a new stake in shares of Philip Morris International in the 2nd quarter worth about $145,000. 72.35% of the stock is currently owned by institutional investors.
In other news, Chairman Louis C. Camilleri sold 108,979 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $108.38, for a total transaction of $11,811,144.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.23% of the company’s stock.
Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, October 19th. The company reported $1.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.11). The company had revenue of $7.50 billion during the quarter, compared to the consensus estimate of $7.75 billion. Philip Morris International had a net margin of 9.32% and a negative return on equity of 67.59%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.25 EPS. equities analysts forecast that Philip Morris International Inc. will post 4.75 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 11th. Investors of record on Thursday, December 21st will be given a $1.07 dividend. The ex-dividend date is Wednesday, December 20th. This represents a $4.28 dividend on an annualized basis and a yield of 3.96%. Philip Morris International’s dividend payout ratio is presently 94.48%.
A number of analysts recently weighed in on PM shares. Societe Generale raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, October 20th. Piper Jaffray Companies set a $135.00 price objective on shares of Philip Morris International and gave the stock a “buy” rating in a report on Sunday, October 15th. Goldman Sachs Group started coverage on shares of Philip Morris International in a report on Monday, October 2nd. They issued a “buy” rating on the stock. Cowen reaffirmed a “buy” rating on shares of Philip Morris International in a report on Sunday, September 24th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $120.00 price objective (down previously from $121.00) on shares of Philip Morris International in a report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. Philip Morris International has a consensus rating of “Hold” and a consensus target price of $124.23.
Philip Morris International 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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