Vanguard Group Inc increased its position in shares of Philip Morris International Inc. (NYSE:PM) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 118,890,424 shares of the company’s stock after buying an additional 1,516,211 shares during the period. Vanguard Group Inc owned 7.65% of Philip Morris International worth $9,694,325,000 as of its most recent filing with the Securities and Exchange Commission, Fairfield Current informed.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Alps Advisors Inc. boosted its position in Philip Morris International by 30.5% during the second quarter. Alps Advisors Inc. now owns 601,060 shares of the company’s stock worth $48,530,000 after purchasing an additional 140,473 shares during the period. Wedbush Securities Inc. boosted its position in Philip Morris International by 10.3% during the second quarter. Wedbush Securities Inc. now owns 13,053 shares of the company’s stock worth $1,054,000 after purchasing an additional 1,223 shares during the period.
Smith Chas P & Associates PA Cpas boosted its position in Philip Morris International by 9.7% during the second quarter. Smith Chas P & Associates PA Cpas now owns 205,694 shares of the company’s stock worth $16,608,000 after purchasing an additional 18,246 shares during the period. Boston Partners boosted its position in Philip Morris International by 3.9% during the second quarter. Boston Partners now owns 320,754 shares of the company’s stock worth $25,898,000 after purchasing an additional 12,048 shares during the period.
Finally, Engineers Gate Manager LP bought a new position in Philip Morris International during the second quarter worth $396,000. Institutional investors and hedge funds own 73.38% of the company’s stock.
In related news, Director Louis C. Camilleri sold 59,495 shares of the company’s stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $86.98, for a total transaction of $5,174,875.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission. Insiders own 0.22% of the company’s stock.
Shares of Philip Morris International stock traded up $0.50 during trading on Thursday, reaching $84.32. The company’s stock had a trading volume of 399,092 shares, compared to its average volume of 4,705,063. The stock has a market cap of $131.09 billion, a PE ratio of 17.12, a PEG ratio of 1.93 and a beta of 0.60. Philip Morris International Inc. has a 52 week low of $76.21 and a 52 week high of $111.25.
Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, October 18th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.16. The company had revenue of $7.50 billion during the quarter, compared to analysts’ expectations of $7.16 billion. Philip Morris International had a net margin of 8.20% and a negative return on equity of 78.80%. Philip Morris International’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.27 earnings per share. Equities analysts anticipate that Philip Morris International Inc. will post 5.01 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Stockholders of record on Thursday, December 20th will be given a $1.14 dividend. The ex-dividend date is Wednesday, December 19th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.41%. Philip Morris International’s payout ratio is presently 92.49%.
A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. Societe Generale set a $95.00 price objective on shares of Philip Morris International and gave the stock a “hold” rating in a research report on Monday, October 22nd.
Citigroup lifted their price objective on shares of Philip Morris International from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, October 19th. ValuEngine raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a research report on Thursday, October 18th. Finally, Piper Jaffray Companies set a $110.00 price objective on shares of Philip Morris International and gave the stock a “buy” rating in a research report on Monday, December 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $95.73.
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