Avalon Advisors LLC grew its position in shares of Philip Morris International Inc. (NYSE:PM) by 5,917.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,250,502 shares of the company’s stock after acquiring an additional 1,229,720 shares during the quarter. Philip Morris International accounts for 2.2% of Avalon Advisors LLC’s holdings, making the stock its 8th biggest position. Avalon Advisors LLC owned approximately 0.08% of Philip Morris International worth $83,484,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in PM. Spinnaker Trust increased its position in shares of Philip Morris International by 0.8% in the fourth quarter. Spinnaker Trust now owns 17,190 shares of the company’s stock worth $1,147,000 after purchasing an additional 133 shares during the period. Weatherly Asset Management L. P. increased its position in shares of Philip Morris International by 3.0% in the fourth quarter. Weatherly Asset Management L. P. now owns 5,036 shares of the company’s stock worth $336,000 after purchasing an additional 147 shares during the period. Appleton Partners Inc. MA increased its position in shares of Philip Morris International by 6.2% in the fourth quarter. Appleton Partners Inc. MA now owns 3,010 shares of the company’s stock worth $201,000 after purchasing an additional 175 shares during the period. Accredited Investors Inc. increased its position in shares of Philip Morris International by 3.2% in the fourth quarter. Accredited Investors Inc. now owns 5,758 shares of the company’s stock worth $384,000 after purchasing an additional 177 shares during the period. Finally, Northside Capital Management LLC increased its position in shares of Philip Morris International by 1.1% in the fourth quarter. Northside Capital Management LLC now owns 15,930 shares of the company’s stock worth $1,063,000 after purchasing an additional 181 shares during the period. 73.53% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on PM. Zacks Investment Research cut Philip Morris International from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. ValuEngine upgraded Philip Morris International from a “sell” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley lifted their target price on Philip Morris International from $88.00 to $94.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Bank of America reiterated a “sell” rating and issued a $74.00 target price on shares of Philip Morris International in a research report on Tuesday, March 26th. Finally, Citigroup lifted their target price on Philip Morris International from $90.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, March 25th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $92.43.
Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Thursday, April 18th. The company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.10. Philip Morris International had a negative return on equity of 78.74% and a net margin of 9.74%. The firm had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.76 billion. During the same period last year, the firm posted $1.00 earnings per share. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, analysts forecast that Philip Morris International Inc. will post 5.09 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Tuesday, March 26th were paid a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.40%. The ex-dividend date was Monday, March 25th. Philip Morris International’s dividend payout ratio is currently 89.41%.
In related news, insider Mario Masseroli sold 1,200 shares of Philip Morris International stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $84.32, for a total value of $101,184.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Andre Calantzopoulos sold 50,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $84.76, for a total value of $4,238,000.00. Following the completion of the transaction, the chief executive officer now directly owns 844,901 shares in the company, valued at $71,613,808.76. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.
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Philip Morris International 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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