Covington Capital Management reduced its stake in Philip Morris International Inc. (NYSE:PM) by 2.0% during the 4th quarter, HoldingsChannel reports. The firm owned 28,021 shares of the company’s stock after selling 566 shares during the period. Covington Capital Management’s holdings in Philip Morris International were worth $2,384,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Philip Morris International by 42.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 17,487 shares of the company’s stock valued at $1,488,000 after buying an additional 5,243 shares during the period. Banco Santander S.A. acquired a new stake in shares of Philip Morris International in the 4th quarter valued at approximately $7,591,000. Amalgamated Bank lifted its holdings in shares of Philip Morris International by 7.7% in the 4th quarter. Amalgamated Bank now owns 234,115 shares of the company’s stock valued at $19,921,000 after buying an additional 16,648 shares during the period. Penserra Capital Management LLC lifted its holdings in shares of Philip Morris International by 71.6% in the 3rd quarter. Penserra Capital Management LLC now owns 1,045 shares of the company’s stock valued at $79,000 after buying an additional 436 shares during the period. Finally, BerganKDV Wealth Management LLC lifted its holdings in shares of Philip Morris International by 21.7% in the 4th quarter. BerganKDV Wealth Management LLC now owns 1,404 shares of the company’s stock valued at $119,000 after buying an additional 250 shares during the period. Institutional investors own 73.70% of the company’s stock.
In other news, insider Marc S. Firestone sold 22,000 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $86.27, for a total value of $1,897,940.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andre Calantzopoulos sold 50,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $87.50, for a total value of $4,375,000.00. Following the completion of the transaction, the chief executive officer now directly owns 882,385 shares of the company’s stock, valued at $77,208,687.50. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.
Several analysts have recently commented on PM shares. UBS Group reissued a “buy” rating and issued a $101.00 price target on shares of Philip Morris International in a report on Tuesday, February 11th. Piper Jaffray Companies reissued an “overweight” rating on shares of Philip Morris International in a report on Wednesday, January 8th. Morgan Stanley reduced their price target on Philip Morris International from $99.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday, March 18th. ValuEngine raised Philip Morris International from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Piper Sandler raised their price target on Philip Morris International from $105.00 to $114.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $96.50.
Shares of PM stock opened at $63.60 on Wednesday. The stock has a fifty day moving average price of $82.17 and a 200 day moving average price of $81.87. The stock has a market cap of $93.32 billion, a PE ratio of 13.77, a P/E/G ratio of 1.22 and a beta of 0.94. Philip Morris International Inc. has a 1 year low of $56.01 and a 1 year high of $90.17.
Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.01. The firm had revenue of $7.71 billion during the quarter, compared to analysts’ expectations of $7.64 billion. Philip Morris International had a negative return on equity of 84.30% and a net margin of 9.21%. Philip Morris International’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.25 earnings per share. As a group, sell-side analysts anticipate that Philip Morris International Inc. will post 5.47 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Monday, March 23rd will be issued a $1.17 dividend. The ex-dividend date is Friday, March 20th. This represents a $4.68 dividend on an annualized basis and a dividend yield of 7.36%. Philip Morris International’s dividend payout ratio (DPR) is 90.17%.
Philip Morris International Company Profile
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and 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 Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.
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