Pittenger & Anderson Inc. increased its stake in Philip Morris International Inc. (NYSE:PM) by 103.2% during the 3rd quarter, Holdings Channel reports. The fund owned 7,875 shares of the company’s stock after buying an additional 4,000 shares during the period. Pittenger & Anderson Inc.’s holdings in Philip Morris International were worth $642,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Rathbone Brothers plc lifted its position in Philip Morris International by 7.1% during the third quarter. Rathbone Brothers plc now owns 89,760 shares of the company’s stock valued at $7,319,000 after buying an additional 5,912 shares in the last quarter. KAMES CAPITAL plc acquired a new position in Philip Morris International during the third quarter valued at approximately $823,000. Gradient Investments LLC lifted its position in Philip Morris International by 6.6% during the third quarter. Gradient Investments LLC now owns 115,038 shares of the company’s stock valued at $9,380,000 after buying an additional 7,102 shares in the last quarter. Iberiabank Corp lifted its position in Philip Morris International by 9.0% during the third quarter. Iberiabank Corp now owns 58,567 shares of the company’s stock valued at $4,776,000 after buying an additional 4,816 shares in the last quarter. Finally, Advisors Capital Management LLC lifted its position in Philip Morris International by 3.1% during the third quarter. Advisors Capital Management LLC now owns 196,100 shares of the company’s stock valued at $15,990,000 after buying an additional 5,859 shares in the last quarter. 72.73% of the stock is currently owned by institutional investors and hedge funds.
NYSE PM opened at $82.31 on Friday. Philip Morris International Inc. has a 52 week low of $76.21 and a 52 week high of $115.15. The company has a debt-to-equity ratio of -2.76, a quick ratio of 0.64 and a current ratio of 1.15. The firm has a market cap of $126.75 billion, a PE ratio of 16.70, a PEG ratio of 1.81 and a beta of 0.79.
Philip Morris International (NYSE:PM) last posted its earnings results on Thursday, July 19th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.18. Philip Morris International had a net margin of 7.84% and a negative return on equity of 76.67%. The business had revenue of $7.73 billion for the quarter, compared to analysts’ expectations of $7.53 billion. During the same period in the previous year, the company posted $1.14 earnings per share. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Philip Morris International Inc. will post 5.01 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Wednesday, September 26th were given a dividend of $1.14 per share. The ex-dividend date was Tuesday, September 25th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.54%. Philip Morris International’s payout ratio is currently 92.49%.
PM has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Philip Morris International from a “hold” rating to a “sell” rating in a research report on Monday, September 24th. ValuEngine raised shares of Philip Morris International from a “strong sell” rating to a “sell” rating in a research report on Friday, September 21st. Jefferies Financial Group reaffirmed a “buy” rating and set a $93.00 price target on shares of Philip Morris International in a research report on Friday, July 13th. Citigroup lifted their price target on shares of Philip Morris International from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, September 21st. Finally, Piper Jaffray Companies set a $99.00 price target on shares of Philip Morris International and gave the company a “buy” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. Philip Morris International currently has a consensus rating of “Hold” and an average target price of $98.00.
About Philip Morris International
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.
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