Chemical Bank Has $1.42 Million Holdings in Philip Morris International Inc. (PM)

Chemical Bank cut its holdings in Philip Morris International Inc. (NYSE:PM) by 3.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 17,351 shares of the company’s stock after selling 621 shares during the period. Chemical Bank’s holdings in Philip Morris International were worth $1,415,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of PM. Massachusetts Financial Services Co. MA grew its holdings in shares of Philip Morris International by 4.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 34,065,506 shares of the company’s stock worth $2,750,449,000 after purchasing an additional 1,421,021 shares during the last quarter. Morgan Stanley grew its holdings in shares of Philip Morris International by 23.9% during the second quarter. Morgan Stanley now owns 22,738,044 shares of the company’s stock worth $1,835,871,000 after purchasing an additional 4,386,487 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Philip Morris International by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 17,570,730 shares of the company’s stock worth $1,418,660,000 after purchasing an additional 258,809 shares during the last quarter. Flossbach Von Storch AG grew its holdings in shares of Philip Morris International by 11.1% during the third quarter. Flossbach Von Storch AG now owns 15,785,256 shares of the company’s stock worth $1,287,130,000 after purchasing an additional 1,572,560 shares during the last quarter. Finally, Fundsmith Equity Fund L.P. purchased a new position in shares of Philip Morris International during the second quarter worth about $845,763,000. Institutional investors own 72.76% of the company’s stock.

NYSE PM opened at $89.18 on Friday. Philip Morris International Inc. has a 52-week low of $76.21 and a 52-week high of $111.25. The stock has a market cap of $138.46 billion, a P/E ratio of 18.09, a P/E/G ratio of 2.04 and a beta of 0.58.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, October 18th. The company reported $1.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.16. Philip Morris International had a negative return on equity of 78.80% and a net margin of 8.20%. The firm had revenue of $7.50 billion for the quarter, compared to analyst estimates of $7.16 billion. During the same quarter last year, the company posted $1.27 earnings per share. The business’s revenue was up .4% on a year-over-year basis. As a group, analysts expect that Philip Morris International Inc. will post 5.01 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Wednesday, September 26th were issued a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.11%. The ex-dividend date was Tuesday, September 25th. Philip Morris International’s dividend payout ratio is currently 92.49%.

Several brokerages have issued reports on PM. Citigroup set a $90.00 price objective on Philip Morris International and gave the stock a “buy” rating in a report on Friday, July 20th. Zacks Investment Research raised Philip Morris International from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Stifel Nicolaus dropped their price objective on Philip Morris International from $100.00 to $93.00 and set a “buy” rating on the stock in a report on Friday, July 20th. Cowen lowered Philip Morris International from an “outperform” rating to a “market perform” rating and set a $97.00 price objective on the stock. in a report on Friday, July 20th. Finally, JPMorgan Chase & Co. lowered Philip Morris International from an “overweight” rating to a “neutral” rating in a report on Friday, July 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $98.08.

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Philip Morris International Profile

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.

Further Reading: Understanding Price to Earnings Ratio (PE)

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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