GAM Holding AG Decreases Holdings in Philip Morris International Inc (PM)
GAM Holding AG trimmed its holdings in Philip Morris International Inc (NYSE:PM) by 16.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,959 shares of the company’s stock after selling 34,954 shares during the quarter. GAM Holding AG’s holdings in Philip Morris International were worth $20,549,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Guidant Wealth Advisors lifted its stake in Philip Morris International by 25.5% in the 2nd quarter. Guidant Wealth Advisors now owns 939 shares of the company’s stock worth $110,000 after purchasing an additional 191 shares in the last quarter. Welch Investments LLC purchased a new position in Philip Morris International in the 1st quarter worth approximately $113,000. American Beacon Advisors Inc. purchased a new position in Philip Morris International in the 1st quarter worth approximately $114,000. Acropolis Investment Management LLC raised its position in shares of Philip Morris International by 0.5% during the 2nd quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock valued at $123,000 after buying an additional 5 shares during the period. Finally, Donald L. Hagan LLC purchased a new stake in shares of Philip Morris International during the 2nd quarter valued at approximately $202,000. 72.25% of the stock is currently owned by institutional investors and hedge funds.
Shares of Philip Morris International Inc (PM) opened at $103.02 on Wednesday. Philip Morris International Inc has a 1-year low of $86.78 and a 1-year high of $123.55. The company has a debt-to-equity ratio of -2.91, a current ratio of 1.13 and a quick ratio of 0.68. The firm has a market cap of $159,920.00, a P/E ratio of 22.86, a P/E/G ratio of 2.07 and a beta of 0.91.
Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, October 19th. The company reported $1.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.11). The business had revenue of $7.50 billion during the quarter, compared to analyst estimates of $7.75 billion. Philip Morris International had a negative return on equity of 67.59% and a net margin of 9.32%. The business’s revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. equities analysts expect that Philip Morris International Inc will post 4.76 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Wednesday, September 27th were paid a $1.07 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend was Tuesday, September 26th. This represents a $4.28 annualized dividend and a dividend yield of 4.15%. Philip Morris International’s payout ratio is 94.48%.
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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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Louis C. Camilleri sold 108,979 shares of the business’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $108.38, for a total transaction of $11,811,144.02. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.
Several research firms have recently commented on PM. Zacks Investment Research lowered shares of Philip Morris International from a “hold” rating to a “sell” rating in a research report on Tuesday, October 24th. Piper Jaffray Companies set a $134.00 price target on shares of Philip Morris International and gave the company a “buy” rating in a research report on Saturday, August 19th. Goldman Sachs Group, Inc. (The) raised shares of Philip Morris International from a “buy” rating to a “conviction-buy” rating and set a $135.00 price target on the stock in a research report on Thursday, September 28th. SBG Securities raised shares of Philip Morris International from a “sell” rating to a “hold” rating and lifted their price target for the company from $118.00 to $119.00 in a research report on Friday, August 11th. Finally, BidaskClub raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Philip Morris International currently has a consensus rating of “Buy” and an average price target of $124.62.
Philip Morris International Company Profile
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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