M&R Capital Management Inc. trimmed its position in Philip Morris International Inc. (NYSE:PM) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,099 shares of the company’s stock after selling 300 shares during the period. M&R Capital Management Inc.’s holdings in Philip Morris International were worth $832,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in PM. Capital World Investors lifted its holdings in Philip Morris International by 24.0% in the 1st quarter. Capital World Investors now owns 90,972,989 shares of the company’s stock valued at $6,637,389,000 after purchasing an additional 17,583,436 shares in the last quarter. Capital International Investors increased its stake in shares of Philip Morris International by 19.9% during the 1st quarter. Capital International Investors now owns 43,979,756 shares of the company’s stock valued at $3,208,763,000 after acquiring an additional 7,299,147 shares during the last quarter. Morgan Stanley increased its stake in shares of Philip Morris International by 8.4% during the 1st quarter. Morgan Stanley now owns 42,365,463 shares of the company’s stock valued at $3,090,983,000 after acquiring an additional 3,285,330 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Philip Morris International by 164.9% during the 1st quarter. Franklin Resources Inc. now owns 4,912,575 shares of the company’s stock valued at $358,421,000 after acquiring an additional 3,057,886 shares during the last quarter. Finally, Independent Franchise Partners LLP increased its stake in shares of Philip Morris International by 47.4% during the 2nd quarter. Independent Franchise Partners LLP now owns 7,135,405 shares of the company’s stock valued at $499,906,000 after acquiring an additional 2,294,843 shares during the last quarter. Institutional investors own 73.98% of the company’s stock.
A number of research firms have recently commented on PM. ValuEngine downgraded shares of Philip Morris International from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. Stifel Nicolaus upped their price objective on shares of Philip Morris International from $85.00 to $90.00 in a research note on Wednesday, July 22nd. Citigroup reaffirmed a “hold” rating and set a $75.00 price objective on shares of Philip Morris International in a research note on Tuesday, June 30th. Piper Sandler reaffirmed a “buy” rating and set a $98.00 price objective on shares of Philip Morris International in a research note on Tuesday, August 4th. Finally, Bank of America increased their price objective on shares of Philip Morris International from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Friday, September 11th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $91.42.
PM stock traded down $0.85 during trading on Thursday, reaching $74.14. The stock had a trading volume of 3,934,378 shares, compared to its average volume of 5,464,393. Philip Morris International Inc. has a 1-year low of $56.01 and a 1-year high of $90.17. The company has a market capitalization of $115.46 billion, a P/E ratio of 15.84, a PEG ratio of 2.29 and a beta of 0.76. The firm has a fifty day moving average price of $78.80 and a 200 day moving average price of $74.42.
Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $1.29 EPS for the quarter, topping 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 firm had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.54 billion. During the same quarter in the previous year, the business posted $1.46 EPS. The firm’s revenue was down 13.6% compared to the same quarter last year. On average, research analysts expect that Philip Morris International Inc. will post 5.06 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Thursday, September 24th will be given a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a $4.80 annualized dividend and a dividend yield of 6.47%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.17. Philip Morris International’s payout ratio is presently 92.49%.
Philip Morris International 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.
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