Amundi Pioneer Asset Management Inc. reduced its position in shares of Philip Morris International Inc. (NYSE:PM) by 8.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,278,303 shares of the company’s stock after selling 113,381 shares during the quarter. Amundi Pioneer Asset Management Inc.’s holdings in Philip Morris International were worth $85,340,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in shares of Philip Morris International by 266,796.4% in the third quarter. Bank of New York Mellon Corp now owns 16,985,289 shares of the company’s stock valued at $1,384,981,000 after acquiring an additional 16,978,925 shares in the last quarter. CI Investments Inc. lifted its holdings in Philip Morris International by 27.5% in the 3rd quarter. CI Investments Inc. now owns 299,454 shares of the company’s stock valued at $24,417,000 after purchasing an additional 64,508 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Philip Morris International by 20.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,793 shares of the company’s stock valued at $554,000 after purchasing an additional 1,161 shares in the last quarter. Highbridge Capital Management LLC boosted its stake in Philip Morris International by 263.8% during the 3rd quarter. Highbridge Capital Management LLC now owns 9,705 shares of the company’s stock worth $791,000 after purchasing an additional 7,037 shares during the last quarter. Finally, Lido Advisors LLC boosted its stake in Philip Morris International by 87.9% during the 3rd quarter. Lido Advisors LLC now owns 5,533 shares of the company’s stock worth $458,000 after purchasing an additional 2,589 shares during the last quarter. 73.53% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently commented on PM. Piper Jaffray Companies set a $100.00 target price on shares of Philip Morris International and gave the company a “buy” rating in a research report on Friday, February 8th. UBS Group upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $86.00 to $101.00 in a research report on Wednesday, February 27th. Zacks Investment Research raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research note on Thursday, February 14th. Citigroup increased their price objective on shares of Philip Morris International from $90.00 to $102.00 and gave the company a “buy” rating in a report on Monday, March 25th. Finally, ValuEngine raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $91.43.
Shares of PM opened at $85.44 on Friday. Philip Morris International Inc. has a 12-month low of $64.67 and a 12-month high of $103.55. The stock has a market capitalization of $133.91 billion, a P/E ratio of 16.88, a PEG ratio of 1.87 and a beta of 0.95.
Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, February 7th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. The company had revenue of $7.50 billion for the quarter, compared to the consensus estimate of $7.46 billion. Philip Morris International had a net margin of 9.90% and a negative return on equity of 76.82%. Philip Morris International’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.32 earnings per share. As a group, research analysts expect that Philip Morris International Inc. will post 5.33 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Tuesday, March 26th will be issued a dividend of $1.14 per share. The ex-dividend date is Monday, March 25th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.34%. Philip Morris International’s dividend payout ratio is currently 89.41%.
In other news, CEO Andre Calantzopoulos sold 50,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $84.76, for a total transaction of $4,238,000.00. Following the sale, the chief executive officer now owns 844,901 shares of the company’s stock, valued at approximately $71,613,808.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.21% of the stock is currently owned by insiders.
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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.
Further Reading: How is net asset value different from market price?
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