Community Bank N.A. lessened its holdings in Philip Morris International Inc. (NYSE:PM) by 12.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,821 shares of the company’s stock after selling 934 shares during the quarter. Community Bank N.A.’s holdings in Philip Morris International were worth $478,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of PM. Perennial Advisors LLC bought a new position in Philip Morris International in the first quarter valued at approximately $29,000. Key Financial Inc bought a new stake in Philip Morris International in the first quarter valued at about $41,000. MBE Wealth Management LLC acquired a new position in Philip Morris International in the first quarter valued at about $55,000. Sound Income Strategies LLC boosted its holdings in Philip Morris International by 149.7% during the first quarter. Sound Income Strategies LLC now owns 809 shares of the company’s stock worth $59,000 after buying an additional 485 shares during the last quarter. Finally, Paragon Capital Management LLC bought a new position in Philip Morris International during the first quarter worth about $61,000. Institutional investors own 74.56% of the company’s stock.
Several research analysts recently weighed in on PM shares. Citigroup reissued a “hold” rating and set a $75.00 price objective on shares of Philip Morris International in a research note on Tuesday, June 30th. Zacks Investment Research lowered shares of Philip Morris International from a “hold” rating to a “sell” rating and set a $74.00 price target for the company. in a report on Wednesday, May 13th. UBS Group upped their price objective on shares of Philip Morris International from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Stifel Nicolaus lifted their target price on Philip Morris International from $85.00 to $90.00 in a report on Wednesday, July 22nd. Finally, ValuEngine upgraded Philip Morris International from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. Philip Morris International presently has an average rating of “Buy” and a consensus target price of $90.21.
Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, July 21st. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.19. Philip Morris International had a net margin of 9.54% and a negative return on equity of 80.24%. The business had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $6.54 billion. During the same quarter last year, the firm earned $1.46 earnings per share. The firm’s revenue for the quarter was down 13.6% compared to the same quarter last year. On average, equities analysts forecast that Philip Morris International Inc. will post 5.02 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 22nd were paid a dividend of $1.17 per share. The ex-dividend date was Friday, June 19th. This represents a $4.68 annualized dividend and a dividend yield of 6.09%. Philip Morris International’s dividend payout ratio is presently 90.17%.
About Philip Morris International
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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