Quadrant Capital Group LLC cut its position in shares of Philip Morris International Inc. (NYSE:PM) by 27.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,966 shares of the company’s stock after selling 2,956 shares during the period. Quadrant Capital Group LLC’s holdings in Philip Morris International were worth $609,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in shares of Philip Morris International by 6.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,903,052 shares of the company’s stock worth $193,823,000 after acquiring an additional 183,239 shares in the last quarter. Geode Capital Management LLC increased its holdings in Philip Morris International by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 18,724,587 shares of the company’s stock valued at $1,247,824,000 after buying an additional 1,298,116 shares during the last quarter. BDO Wealth Advisors LLC increased its holdings in Philip Morris International by 5.8% in the fourth quarter. BDO Wealth Advisors LLC now owns 3,343 shares of the company’s stock valued at $223,000 after buying an additional 184 shares during the last quarter. Edge Capital Group LLC bought a new stake in Philip Morris International in the fourth quarter valued at about $252,000. Finally, Sontag Advisory LLC bought a new stake in Philip Morris International in the fourth quarter valued at about $693,000. Institutional investors own 73.48% of the company’s stock.
Several analysts recently weighed in on the company. ValuEngine lowered Philip Morris International from a “hold” rating to a “sell” rating in a report on Thursday. Morgan Stanley lowered their price objective on Philip Morris International from $94.00 to $86.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Bank of America raised Philip Morris International from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $81.00 to $94.00 in a report on Friday, May 17th. Zacks Investment Research raised Philip Morris International from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd. Finally, Societe Generale raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Philip Morris International has an average rating of “Hold” and a consensus target price of $93.92.
PM stock traded up $1.72 during mid-day trading on Friday, reaching $84.17. 6,109,071 shares of the stock traded hands, compared to its average volume of 4,926,347. Philip Morris International Inc. has a 52 week low of $64.67 and a 52 week high of $92.74. The stock has a 50-day simple moving average of $81.44. The company has a market cap of $128.28 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 2.02 and a beta of 0.95.
Philip Morris International (NYSE:PM) last released its earnings results on Thursday, July 18th. The company reported $1.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.13. The business had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.42 billion. Philip Morris International had a net margin of 10.03% and a negative return on equity of 80.96%. The firm’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the company earned $1.41 earnings per share. Analysts forecast that Philip Morris International Inc. will post 5.21 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Friday, June 21st were issued a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 5.42%. The ex-dividend date was Thursday, June 20th. Philip Morris International’s payout ratio is 89.41%.
About Philip Morris International
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.
See Also: QQQ ETF
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.