GW Henssler & Associates Ltd. increased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 5.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 262,842 shares of the company’s stock after acquiring an additional 14,572 shares during the quarter. Philip Morris International comprises 1.7% of GW Henssler & Associates Ltd.’s investment portfolio, making the stock its 14th biggest position. GW Henssler & Associates Ltd.’s holdings in Philip Morris International were worth $23,325,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the stock. Sterling Financial Planning Inc. bought a new stake in Philip Morris International in the 4th quarter valued at about $26,000. Perennial Advisors LLC bought a new stake in Philip Morris International in the 4th quarter valued at about $27,000. Grant Street Asset Management Inc. bought a new stake in Philip Morris International in the 4th quarter valued at about $27,000. Key Financial Inc bought a new stake in Philip Morris International in the 4th quarter valued at about $31,000. Finally, Jeppson Wealth Management LLC bought a new stake in Philip Morris International in the 3rd quarter valued at about $33,000. 74.18% of the stock is owned by institutional investors and hedge funds.
PM has been the subject of a number of recent analyst reports. Sanford C. Bernstein initiated coverage on shares of Philip Morris International in a report on Tuesday, January 19th. They set a “market perform” rating and a $92.00 price target for the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price target on shares of Philip Morris International from $100.00 to $105.00 in a report on Friday, January 8th. Zacks Investment Research downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating and set a $99.00 price target for the company. in a report on Tuesday, April 27th. JPMorgan Chase & Co. upgraded shares of Philip Morris International from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $81.00 to $105.00 in a research report on Thursday, April 15th. Finally, Morgan Stanley upped their price objective on shares of Philip Morris International from $103.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 27th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $100.23.
Shares of NYSE:PM traded down $0.09 during trading on Tuesday, reaching $95.76. The stock had a trading volume of 63,387 shares, compared to its average volume of 4,803,417. The firm’s fifty day moving average is $91.04 and its 200 day moving average is $83.29. Philip Morris International Inc. has a 52 week low of $66.85 and a 52 week high of $96.54. The stock has a market cap of $149.24 billion, a price-to-earnings ratio of 19.40, a P/E/G ratio of 2.27 and a beta of 0.77.
Philip Morris International (NYSE:PM) last issued its earnings results on Monday, April 19th. The company reported $1.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.17. The business had revenue of $7.59 billion for the quarter, compared to analyst estimates of $7.33 billion. Philip Morris International had a net margin of 10.07% and a negative return on equity of 78.02%. Philip Morris International’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 earnings per share. As a group, research analysts predict that Philip Morris International Inc. will post 5.13 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, April 9th. Investors of record on Monday, March 22nd were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 5.01%. The ex-dividend date was Friday, March 19th. Philip Morris International’s dividend payout ratio is presently 92.49%.
In other news, insider Stacey Kennedy sold 10,570 shares of the stock in a transaction dated Wednesday, April 21st. The shares were sold at an average price of $94.28, for a total value of $996,539.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Marian Salzman sold 2,000 shares of the stock in a transaction dated Friday, February 5th. The shares were sold at an average price of $84.39, for a total transaction of $168,780.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,636 shares of company stock worth $3,156,267. 0.22% of the stock is owned by insiders.
About Philip Morris International
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, 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 Creations, HEETS Dimensions, HEETS Marlboro, HEETS FROM MARLBORO, Marlboro Dimensions, Marlboro HeatSticks, and Parliament HeatSticks brands, as well as under the Fiit and Miix licensed brands.
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