Philip Morris International Inc. (NYSE:PM) Shares Sold by Pacer Advisors Inc.
Pacer Advisors Inc. trimmed its position in shares of Philip Morris International Inc. (NYSE:PM) by 9.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 115,293 shares of the company’s stock after selling 12,717 shares during the period. Pacer Advisors Inc.’s holdings in Philip Morris International were worth $10,231,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in PM. Sterling Financial Planning Inc. purchased a new stake in Philip Morris International during the 4th quarter worth $26,000. Perennial Advisors LLC purchased a new position in Philip Morris International in the 4th quarter valued at about $27,000. Grant Street Asset Management Inc. purchased a new position in Philip Morris International in the 4th quarter valued at about $27,000. Key Financial Inc purchased a new position in Philip Morris International in the 4th quarter valued at about $31,000. Finally, Jeppson Wealth Management LLC purchased a new position in Philip Morris International in the 3rd quarter valued at about $33,000. 74.18% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Marian Salzman sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 5th. The shares were sold at an average price of $84.39, for a total transaction of $168,780.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.22% of the company’s stock.
Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, February 4th. The company reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.05. The firm had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.41 billion. Philip Morris International had a net margin of 10.07% and a negative return on equity of 78.02%. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the firm posted $1.22 earnings per share. On average, sell-side analysts forecast that Philip Morris International Inc. will post 5.13 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 9th. Investors of record on Monday, March 22nd will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date of this dividend is Friday, March 19th. Philip Morris International’s payout ratio is 92.49%.
A number of equities analysts have weighed in on PM shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price objective on shares of Philip Morris International from $100.00 to $105.00 in a research report on Friday, January 8th. Stifel Nicolaus increased their price target on shares of Philip Morris International from $90.00 to $100.00 in a research report on Friday, February 5th. Zacks Investment Research raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research report on Tuesday, January 12th. Sanford C. Bernstein initiated coverage on shares of Philip Morris International in a research report on Tuesday, January 19th. They set a “market perform” rating and a $92.00 price target on the stock. Finally, Edward Jones lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Tuesday, December 15th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Philip Morris International has an average rating of “Buy” and a consensus target price of $97.64.
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 Creations, HEETS Dimensions, HEETS Marlboro, HEETS FROM MARLBORO, Marlboro Dimensions, Marlboro HeatSticks, and Parliament HeatSticks brands, as well as under the Fiit and Miix licensed brands.
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