Bank of Hawaii lowered its stake in shares of Philip Morris International Inc (NYSE:PM) by 11.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 86,747 shares of the company’s stock after selling 11,034 shares during the quarter. Philip Morris International comprises 0.9% of Bank of Hawaii’s portfolio, making the stock its 23rd largest position. Bank of Hawaii’s holdings in Philip Morris International were worth $10,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hourglass Capital LLC grew its holdings in Philip Morris International by 0.5% in the first quarter. Hourglass Capital LLC now owns 75,608 shares of the company’s stock worth $8,536,000 after purchasing an additional 360 shares during the period. Crawford Investment Counsel Inc. grew its holdings in Philip Morris International by 125.5% in the first quarter. Crawford Investment Counsel Inc. now owns 467,059 shares of the company’s stock worth $52,731,000 after purchasing an additional 259,953 shares during the period. Private Wealth Advisors Inc. grew its holdings in Philip Morris International by 4.7% in the first quarter. Private Wealth Advisors Inc. now owns 7,326 shares of the company’s stock worth $827,000 after purchasing an additional 331 shares during the period. Swiss National Bank grew its holdings in Philip Morris International by 26.2% in the first quarter. Swiss National Bank now owns 5,726,731 shares of the company’s stock worth $646,548,000 after purchasing an additional 1,189,800 shares during the period. Finally, World Asset Management Inc grew its holdings in Philip Morris International by 12.0% in the first quarter. World Asset Management Inc now owns 152,197 shares of the company’s stock worth $17,183,000 after purchasing an additional 16,248 shares during the period. Institutional investors own 72.63% of the company’s stock.
A number of equities research analysts have weighed in on PM shares. Zacks Investment Research upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Wells Fargo & Company restated an “outperform” rating and issued a $140.00 price objective on shares of Philip Morris International in a report on Tuesday, October 10th. Goldman Sachs Group upgraded shares of Philip Morris International from a “buy” rating to a “conviction-buy” rating and set a $135.00 price objective on the stock in a report on Thursday, September 28th. Piper Jaffray Companies set a $130.00 price objective on shares of Philip Morris International and gave the stock a “buy” rating in a report on Thursday, November 16th. Finally, Bank of America cut their price objective on shares of Philip Morris International from $124.00 to $121.00 and set a “neutral” rating on the stock in a report on Friday, October 20th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $124.23.
Shares of Philip Morris International Inc (NYSE:PM) traded down $0.11 during midday trading on Friday, hitting $106.59. 4,577,252 shares of the stock traded hands, compared to its average volume of 4,274,163. The company has a market capitalization of $165,726.75, a P/E ratio of 23.76, a PEG ratio of 2.16 and a beta of 0.90. Philip Morris International Inc has a 52-week low of $88.90 and a 52-week high of $123.55. The company has a current ratio of 1.13, a quick ratio of 0.68 and a debt-to-equity ratio of -2.91.
Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, October 19th. The company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.11). The firm had revenue of $7.50 billion during the quarter, compared to the consensus estimate of $7.75 billion. Philip Morris International had a negative return on equity of 67.59% and a net margin of 9.32%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.25 EPS. equities research analysts forecast that Philip Morris International Inc will post 4.75 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Thursday, December 21st will be paid a $1.07 dividend. The ex-dividend date is Wednesday, December 20th. This represents a $4.28 annualized dividend and a dividend yield of 4.02%. Philip Morris International’s dividend payout ratio is presently 94.48%.
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About Philip Morris International
Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.
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