Gamble Jones Investment Counsel Cuts Stake in Philip Morris International Inc (PM)
Gamble Jones Investment Counsel lowered its holdings in Philip Morris International Inc (NYSE:PM) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 116,415 shares of the company’s stock after selling 368 shares during the quarter. Philip Morris International accounts for 1.4% of Gamble Jones Investment Counsel’s holdings, making the stock its 11th biggest position. Gamble Jones Investment Counsel’s holdings in Philip Morris International were worth $13,673,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Ronald Blue & Co. LLC increased its stake in shares of Philip Morris International by 5.7% in the second quarter. Ronald Blue & Co. LLC now owns 5,273 shares of the company’s stock worth $620,000 after acquiring an additional 285 shares during the period. Busey Trust CO increased its stake in shares of Philip Morris International by 17.1% in the second quarter. Busey Trust CO now owns 7,320 shares of the company’s stock worth $860,000 after acquiring an additional 1,070 shares during the period. Suffolk Capital Management LLC acquired a new stake in shares of Philip Morris International in the second quarter worth $12,928,000. Daiwa Securities Group Inc. increased its stake in shares of Philip Morris International by 2.1% in the second quarter. Daiwa Securities Group Inc. now owns 65,580 shares of the company’s stock worth $7,702,000 after acquiring an additional 1,380 shares during the period. Finally, Grove Bank & Trust increased its stake in shares of Philip Morris International by 14.1% in the second quarter. Grove Bank & Trust now owns 22,099 shares of the company’s stock worth $2,596,000 after acquiring an additional 2,733 shares during the period. Hedge funds and other institutional investors own 72.00% of the company’s stock.
In other Philip Morris International news, insider Drago Azinovic sold 14,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $116.00, for a total value of $1,624,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.23% of the company’s stock.
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Shares of Philip Morris International Inc (NYSE PM) opened at 113.37 on Tuesday. Philip Morris International Inc has a one year low of $86.78 and a one year high of $123.55. The stock has a market capitalization of $176.08 billion, a P/E ratio of 25.12 and a beta of 0.93. The company’s 50-day moving average is $114.74 and its 200-day moving average is $115.75.
Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Thursday, July 20th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.09). The firm had revenue of $6.92 billion during the quarter, compared to analyst estimates of $7.11 billion. Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.15 earnings per share. On average, equities research analysts anticipate that Philip Morris International Inc will post $4.83 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Wednesday, September 27th will be paid a $1.07 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.04. This represents a $4.28 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Tuesday, September 26th. Philip Morris International’s payout ratio is currently 94.90%.
A number of research firms have recently weighed in on PM. Goldman Sachs Group, Inc. (The) began coverage on shares of Philip Morris International in a research note on Monday, October 2nd. They issued a “buy” rating on the stock. Jefferies Group LLC reiterated a “hold” rating and issued a $120.00 price objective on shares of Philip Morris International in a research note on Thursday, September 28th. Cowen and Company reiterated a “buy” rating on shares of Philip Morris International in a research note on Sunday, September 24th. Piper Jaffray Companies set a $134.00 price objective on shares of Philip Morris International and gave the stock a “buy” rating in a research note on Saturday, August 19th. Finally, BidaskClub upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $123.92.
About Philip Morris International
Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.
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