Harris Associates L P grew its stake in Philip Morris International Inc (NYSE:PM) by 0.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,122,265 shares of the company’s stock after acquiring an additional 200 shares during the period. Harris Associates L P owned 0.20% of Philip Morris International worth $366,710,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in PM. Vanguard Group Inc. raised its stake in shares of Philip Morris International by 2.7% in the second quarter. Vanguard Group Inc. now owns 111,475,174 shares of the company’s stock worth $13,092,759,000 after acquiring an additional 2,972,929 shares during the last quarter. BlackRock Inc. raised its stake in shares of Philip Morris International by 2.7% in the second quarter. BlackRock Inc. now owns 91,796,829 shares of the company’s stock worth $10,781,538,000 after acquiring an additional 2,421,533 shares during the last quarter. FMR LLC raised its stake in shares of Philip Morris International by 12.5% during the second quarter. FMR LLC now owns 20,919,201 shares of the company’s stock worth $2,456,960,000 after buying an additional 2,330,864 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Philip Morris International by 57.8% during the second quarter. Alliancebernstein L.P. now owns 5,840,773 shares of the company’s stock worth $685,999,000 after buying an additional 2,139,002 shares during the last quarter. Finally, Amerigo Asset Management bought a new stake in shares of Philip Morris International during the second quarter worth approximately $209,061,000. 72.63% of the stock is owned by institutional investors.
PM has been the subject of a number of recent research reports. Piper Jaffray Companies set a $130.00 price target on shares of Philip Morris International and gave the stock a “buy” rating in a research note on Thursday, November 16th. Jefferies Group dropped their price target on shares of Philip Morris International from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Thursday, October 12th. Societe Generale raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday, October 20th. Zacks Investment Research raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. Finally, Bank of America dropped their price target on shares of Philip Morris International from $124.00 to $121.00 and set a “neutral” rating for the company in a research note on Friday, October 20th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Philip Morris International currently has an average rating of “Buy” and a consensus price target of $124.23.
Shares of Philip Morris International Inc (NYSE PM) traded down $0.11 during midday trading on Monday, reaching $106.59. 4,611,900 shares of the company were exchanged, compared to its average volume of 4,130,480. The firm has a market capitalization of $165,555.89, a PE ratio of 23.74, a P/E/G ratio of 2.15 and a beta of 0.90. The company has a debt-to-equity ratio of -2.91, a quick ratio of 0.68 and a current ratio of 1.13. Philip Morris International Inc has a 52-week low of $88.90 and a 52-week high of $123.55.
Philip Morris International (NYSE:PM) last issued its quarterly earnings data 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 firm had revenue of $7.50 billion for the quarter, compared to analyst estimates of $7.75 billion. Philip Morris International had a net margin of 9.32% and a negative return on equity of 67.59%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 EPS. analysts forecast that Philip Morris International Inc will post 4.75 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Investors of record on Thursday, December 21st will be issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date is Wednesday, December 20th. Philip Morris International’s dividend payout ratio is currently 94.48%.
In related news, Chairman Louis C. Camilleri sold 108,979 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $108.38, for a total transaction of $11,811,144.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is currently owned by insiders.
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Philip Morris International Company 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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