D.A. Davidson & CO. boosted its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 12.9% in the second quarter, HoldingsChannel reports. The firm owned 63,175 shares of the company’s stock after acquiring an additional 7,223 shares during the period. D.A. Davidson & CO.’s holdings in Philip Morris International were worth $5,101,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. DF Dent & Co. Inc. boosted its position in Philip Morris International by 14.0% in the 4th quarter. DF Dent & Co. Inc. now owns 4,027 shares of the company’s stock valued at $425,000 after buying an additional 494 shares during the last quarter. Fairfield Bush & CO. boosted its position in Philip Morris International by 1.0% in the 4th quarter. Fairfield Bush & CO. now owns 53,498 shares of the company’s stock valued at $5,652,000 after buying an additional 553 shares during the last quarter. BKD Wealth Advisors LLC boosted its position in Philip Morris International by 5.0% in the 2nd quarter. BKD Wealth Advisors LLC now owns 13,174 shares of the company’s stock valued at $1,064,000 after buying an additional 625 shares during the last quarter. Strategic Financial Group LLC boosted its position in Philip Morris International by 20.7% in the 2nd quarter. Strategic Financial Group LLC now owns 3,732 shares of the company’s stock valued at $301,000 after buying an additional 639 shares during the last quarter. Finally, Trust Co. of Vermont boosted its position in Philip Morris International by 1.9% in the 2nd quarter. Trust Co. of Vermont now owns 35,671 shares of the company’s stock valued at $2,880,000 after buying an additional 656 shares during the last quarter. 72.24% of the stock is owned by hedge funds and other institutional investors.
Philip Morris International opened at $84.40 on Friday, MarketBeat Ratings reports. Philip Morris International Inc. has a 12-month low of $76.21 and a 12-month high of $119.43. The company has a debt-to-equity ratio of -2.76, a quick ratio of 0.64 and a current ratio of 1.15. The firm has a market capitalization of $133.92 billion, a PE ratio of 17.12, a P/E/G ratio of 1.84 and a beta of 0.90.
Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, July 19th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.18. Philip Morris International had a negative return on equity of 76.67% and a net margin of 7.84%. The business had revenue of $7.73 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same period last year, the company earned $1.14 EPS. The firm’s revenue was up 11.7% on a year-over-year basis. analysts forecast that Philip Morris International Inc. will post 5.06 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 11th. Stockholders of record on Friday, June 22nd were given a $1.14 dividend. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.07. This represents a $4.56 annualized dividend and a dividend yield of 5.40%. The ex-dividend date was Thursday, June 21st. Philip Morris International’s dividend payout ratio (DPR) is currently 92.49%.
PM has been the topic of several recent research reports. Deutsche Bank set a $100.00 price target on Philip Morris International and gave the stock a “buy” rating in a research report on Tuesday, April 24th. Jefferies Financial Group restated a “buy” rating and issued a $93.00 price target on shares of Philip Morris International in a research report on Friday, July 13th. Goldman Sachs Group lowered Philip Morris International from a “conviction-buy” rating to a “buy” rating in a research report on Friday, April 20th. Stifel Nicolaus reduced their price target on Philip Morris International from $125.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, April 20th. Finally, Cowen restated a “buy” rating and issued a $105.00 price target on shares of Philip Morris International in a research report on Friday, April 20th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $105.75.
In other Philip Morris International news, Director Jennifer Li bought 40,000 shares of Philip Morris International stock in a transaction on Monday, May 14th. The shares were purchased at an average cost of $81.30 per share, for a total transaction of $3,252,000.00. Following the completion of the acquisition, the director now owns 47,323 shares in the company, valued at approximately $3,847,359.90. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.22% of the company’s stock.
About Philip Morris International
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.
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