Enterprise Trust & Investment Co cut its position in shares of Philip Morris International Inc. (NYSE:PM) by 1.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 17,363 shares of the company’s stock after selling 300 shares during the quarter. Enterprise Trust & Investment Co’s holdings in Philip Morris International were worth $1,646,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Evolution Wealth Advisors LLC grew its holdings in shares of Philip Morris International by 179.1% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 307 shares of the company’s stock worth $30,000 after acquiring an additional 197 shares during the last quarter. Monumental Financial Group Inc. acquired a new position in shares of Philip Morris International in the 2nd quarter worth $30,000. Regency Capital Management Inc. DE purchased a new position in shares of Philip Morris International during the first quarter valued at $32,000. Lake Point Wealth Management purchased a new position in shares of Philip Morris International during the second quarter valued at $32,000. Finally, MV Capital Management Inc. grew its holdings in shares of Philip Morris International by 1,116.7% during the second quarter. MV Capital Management Inc. now owns 438 shares of the company’s stock valued at $43,000 after buying an additional 402 shares in the last quarter. Institutional investors and hedge funds own 74.90% of the company’s stock.
Separately, Deutsche Bank Aktiengesellschaft lifted their price target on Philip Morris International from $114.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, August 19th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Philip Morris International currently has a consensus rating of “Buy” and an average target price of $104.86.
Philip Morris International (NYSE:PM) last released its quarterly earnings data on Monday, October 18th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.03. The firm had revenue of $8.12 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Philip Morris International had a negative return on equity of 98.17% and a net margin of 11.11%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.42 earnings per share. As a group, research analysts forecast that Philip Morris International Inc. will post 6.07 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 14th. Investors of record on Wednesday, September 29th were given a dividend of $1.25 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend was Tuesday, September 28th. This represents a $5.00 dividend on an annualized basis and a yield of 5.55%. Philip Morris International’s dividend payout ratio (DPR) is presently 86.81%.
Philip Morris International Profile
Philip Morris International, Inc is a holding company. It engages in manufacturing and sale of cigarettes, tobacco and nicotine-containing products. It operates through the following geographical segments: European Union, Eastern Europe, Middles East & Africa, South & Southeast Asia, East Asia & Australia and Latin America & Canada.
Featured Story: Cost of Debt
Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM).
Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.