Capital City Trust Co. FL lifted its stake in Philip Morris International Inc. (NYSE:PM – Get Rating) by 2.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,444 shares of the company’s stock after purchasing an additional 401 shares during the quarter. Capital City Trust Co. FL’s holdings in Philip Morris International were worth $1,722,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tcwp LLC purchased a new position in shares of Philip Morris International during the first quarter worth $26,000. Bivin & Associates Inc. acquired a new stake in shares of Philip Morris International during the fourth quarter worth about $27,000. Sandy Cove Advisors LLC acquired a new stake in shares of Philip Morris International during the first quarter worth about $28,000. American National Bank increased its position in Philip Morris International by 89.1% in the 1st quarter. American National Bank now owns 312 shares of the company’s stock valued at $29,000 after acquiring an additional 147 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in Philip Morris International during the 1st quarter worth approximately $33,000. Institutional investors and hedge funds own 76.00% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on PM shares. Jefferies Financial Group decreased their price target on Philip Morris International from $107.00 to $99.00 in a research note on Tuesday, July 19th. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Tuesday, July 26th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $109.13.
Philip Morris International Stock Performance
Philip Morris International (NYSE:PM – Get Rating) last posted its quarterly earnings data on Thursday, July 21st. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.24. The firm had revenue of $7.83 billion during the quarter, compared to analyst estimates of $6.76 billion. Philip Morris International had a net margin of 11.05% and a negative return on equity of 115.36%. The company’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the business posted $1.57 EPS. As a group, equities analysts predict that Philip Morris International Inc. will post 5.99 EPS for the current fiscal year.
Philip Morris International Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 12th. Stockholders of record on Wednesday, September 28th will be issued a dividend of $1.27 per share. This is an increase from Philip Morris International’s previous quarterly dividend of $1.25. The ex-dividend date is Tuesday, September 27th. This represents a $5.08 annualized dividend and a dividend yield of 5.30%. Philip Morris International’s payout ratio is presently 85.91%.
Philip Morris International Company Profile
Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products that are sold in markets outside the United States.
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