Keating Investment Counselors Inc. increased its position in shares of Philip Morris International Inc. (NYSE:PM) by 0.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 75,634 shares of the company’s stock after buying an additional 170 shares during the period. Philip Morris International accounts for approximately 3.0% of Keating Investment Counselors Inc.’s investment portfolio, making the stock its 12th biggest position. Keating Investment Counselors Inc.’s holdings in Philip Morris International were worth $5,672,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Northwest Investment Counselors LLC acquired a new position in shares of Philip Morris International in the third quarter valued at $32,000. Crewe Advisors LLC boosted its position in shares of Philip Morris International by 57.3% in the third quarter. Crewe Advisors LLC now owns 472 shares of the company’s stock valued at $35,000 after acquiring an additional 172 shares during the period. S.A. Mason LLC bought a new stake in shares of Philip Morris International in the third quarter valued at about $44,000. Evolution Wealth Advisors LLC boosted its position in shares of Philip Morris International by 322.2% in the third quarter. Evolution Wealth Advisors LLC now owns 760 shares of the company’s stock valued at $57,000 after acquiring an additional 580 shares during the period. Finally, CX Institutional boosted its position in shares of Philip Morris International by 889.0% in the second quarter. CX Institutional now owns 900 shares of the company’s stock valued at $63,000 after acquiring an additional 809 shares during the period. Institutional investors and hedge funds own 73.98% of the company’s stock.
In other news, Director Louis C. Camilleri sold 75,000 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $77.73, for a total value of $5,829,750.00. Corporate insiders own 0.22% of the company’s stock.
Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, October 20th. The company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. The firm had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.27 billion. Philip Morris International had a net margin of 9.54% and a negative return on equity of 80.24%. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 earnings per share. On average, sell-side analysts forecast that Philip Morris International Inc. will post 5.08 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 13th. Stockholders of record on Thursday, September 24th were paid a $1.20 dividend. The ex-dividend date was Wednesday, September 23rd. This represents a $4.80 annualized dividend and a dividend yield of 6.56%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.17. Philip Morris International’s dividend payout ratio is currently 92.49%.
A number of equities research analysts have recently issued reports on the stock. Citigroup raised shares of Philip Morris International from a “neutral” rating to a “buy” rating and boosted their target price for the company from $82.00 to $100.00 in a research report on Wednesday, October 7th. Goldman Sachs Group boosted their target price on shares of Philip Morris International from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, September 23rd. Piper Sandler reaffirmed a “buy” rating and set a $98.00 price objective on shares of Philip Morris International in a research report on Tuesday, August 4th. ValuEngine cut shares of Philip Morris International from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. Finally, Argus cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $92.91.
Philip Morris International Company Profile
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 Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.
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