Moors & Cabot Inc. increased its position in shares of Philip Morris International Inc. (NYSE:PM) by 130.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 43,814 shares of the company’s stock after buying an additional 24,788 shares during the quarter. Moors & Cabot Inc.’s holdings in Philip Morris International were worth $3,335,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Titan Capital Management LLC CA purchased a new stake in shares of Philip Morris International during the 2nd quarter valued at approximately $30,000. Strategic Blueprint LLC purchased a new stake in Philip Morris International in the third quarter valued at approximately $30,000. River & Mercantile Asset Management LLP purchased a new stake in Philip Morris International in the second quarter valued at approximately $32,000. Manchester Financial Inc. purchased a new stake in Philip Morris International in the second quarter valued at approximately $36,000. Finally, Brand Asset Management Group Inc. raised its position in Philip Morris International by 34.9% in the second quarter. Brand Asset Management Group Inc. now owns 472 shares of the company’s stock valued at $37,000 after purchasing an additional 122 shares during the period. 74.16% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have issued reports on the company. ValuEngine raised Philip Morris International from a “sell” rating to a “hold” rating in a research report on Saturday. Wells Fargo & Co cut their target price on Philip Morris International from $102.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday. Credit Suisse Group set a $80.00 target price on Philip Morris International and gave the company a “sell” rating in a research report on Wednesday, August 28th. Barclays raised Philip Morris International from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $82.00 to $100.00 in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. set a $86.00 target price on Philip Morris International and gave the company a “neutral” rating in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. Philip Morris International has an average rating of “Buy” and a consensus price target of $92.50.
Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, October 17th. The company reported $1.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.08. The business had revenue of $7.64 billion during the quarter, compared to the consensus estimate of $7.65 billion. Philip Morris International had a net margin of 9.59% and a negative return on equity of 82.33%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.44 earnings per share. On average, sell-side analysts expect that Philip Morris International Inc. will post 5.23 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Wednesday, September 25th were paid a $1.17 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.14. The ex-dividend date was Tuesday, September 24th. This represents a $4.68 annualized dividend and a dividend yield of 5.74%. Philip Morris International’s payout ratio is 91.76%.
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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