Raymond James Trust N.A. Trims Holdings in Philip Morris International Inc (PM)
Raymond James Trust N.A. cut its stake in Philip Morris International Inc (NYSE:PM) by 7.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,556 shares of the company’s stock after selling 5,960 shares during the quarter. Raymond James Trust N.A.’s holdings in Philip Morris International were worth $8,522,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Hourglass Capital LLC increased its holdings in shares of Philip Morris International by 0.9% in the 2nd quarter. Hourglass Capital LLC now owns 76,258 shares of the company’s stock valued at $8,957,000 after acquiring an additional 650 shares during the period. Wedbush Securities Inc. boosted its position in shares of Philip Morris International by 28.0% in the 2nd quarter. Wedbush Securities Inc. now owns 18,832 shares of the company’s stock worth $2,212,000 after purchasing an additional 4,123 shares in the last quarter. Suffolk Capital Management LLC acquired a new stake in shares of Philip Morris International in the 2nd quarter worth $12,928,000. LMR Partners LLP boosted its position in shares of Philip Morris International by 274.0% in the 2nd quarter. LMR Partners LLP now owns 21,391 shares of the company’s stock worth $2,512,000 after purchasing an additional 15,671 shares in the last quarter. Finally, Birinyi Associates Inc. boosted its position in shares of Philip Morris International by 15.0% in the 2nd quarter. Birinyi Associates Inc. now owns 27,160 shares of the company’s stock worth $3,190,000 after purchasing an additional 3,550 shares in the last quarter. Institutional investors and hedge funds own 72.63% of the company’s stock.
A number of analysts have recently weighed in on the company. Cowen reissued a “buy” rating and issued a $135.00 price objective on shares of Philip Morris International in a research report on Tuesday, August 22nd. Piper Jaffray Companies set a $134.00 price objective on Philip Morris International and gave the stock a “buy” rating in a research report on Saturday, August 19th. BidaskClub raised Philip Morris International from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Jefferies Group reissued a “hold” rating and issued a $120.00 price objective (down previously from $121.00) on shares of Philip Morris International in a research report on Thursday, August 24th. Finally, SBG Securities raised Philip Morris International from a “sell” rating to a “hold” rating and raised their price objective for the stock from $118.00 to $119.00 in a research report on Friday, August 11th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $124.23.
Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, October 19th. The company reported $1.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.11). The company had revenue of $7.50 billion during the quarter, compared to analyst estimates of $7.75 billion. Philip Morris International had a net margin of 9.32% and a negative return on equity of 67.59%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the firm earned $1.25 EPS. equities research analysts predict that Philip Morris International Inc will post 4.75 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Thursday, December 21st will be issued a $1.07 dividend. The ex-dividend date of this dividend is Wednesday, December 20th. This represents a $4.28 annualized dividend and a dividend yield of 3.98%. Philip Morris International’s dividend payout ratio (DPR) is presently 94.48%.
In other news, Chairman Louis C. Camilleri sold 108,979 shares of the business’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $108.38, for a total value of $11,811,144.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.23% of the company’s stock.
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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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