First American Trust FSB boosted its stake in Philip Morris International Inc. (NYSE:PM) by 9.7% during the 4th quarter, HoldingsChannel reports. The fund owned 3,400 shares of the company’s stock after purchasing an additional 300 shares during the quarter. First American Trust FSB’s holdings in Philip Morris International were worth $227,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the company. Gulf International Bank UK Ltd raised its position in shares of Philip Morris International by 0.8% in the 4th quarter. Gulf International Bank UK Ltd now owns 30,545 shares of the company’s stock worth $2,039,000 after purchasing an additional 250 shares during the last quarter. Cornerstone Advisors Inc. raised its position in shares of Philip Morris International by 12.6% in the 3rd quarter. Cornerstone Advisors Inc. now owns 3,143 shares of the company’s stock worth $256,000 after purchasing an additional 351 shares during the last quarter. JGP Wealth Management LLC raised its position in shares of Philip Morris International by 19.8% in the 3rd quarter. JGP Wealth Management LLC now owns 3,041 shares of the company’s stock worth $249,000 after purchasing an additional 502 shares during the last quarter. Lynch & Associates IN raised its position in shares of Philip Morris International by 3.7% in the 4th quarter. Lynch & Associates IN now owns 15,437 shares of the company’s stock worth $1,031,000 after purchasing an additional 551 shares during the last quarter. Finally, RB Capital Management LLC raised its position in shares of Philip Morris International by 13.4% in the 3rd quarter. RB Capital Management LLC now owns 4,941 shares of the company’s stock worth $403,000 after purchasing an additional 584 shares during the last quarter. Hedge funds and other institutional investors own 72.70% of the company’s stock.
PM has been the subject of several recent analyst reports. Credit Suisse Group lowered Philip Morris International from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $92.00 to $74.00 in a research report on Tuesday, December 18th. ValuEngine lowered Philip Morris International from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $110.00 price target (down previously from $111.25) on shares of Philip Morris International in a research report on Friday, December 28th. Sanford C. Bernstein initiated coverage on Philip Morris International in a research report on Tuesday, October 16th. They issued an “outperform” rating and a $97.00 price target for the company. Finally, Morgan Stanley lowered their price target on Philip Morris International from $102.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. Philip Morris International has a consensus rating of “Hold” and a consensus target price of $92.08.
Shares of NYSE:PM opened at $69.50 on Friday. Philip Morris International Inc. has a fifty-two week low of $64.67 and a fifty-two week high of $111.25. The stock has a market capitalization of $105.57 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 1.47 and a beta of 0.86.
Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, October 18th. The company reported $1.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.16. Philip Morris International had a negative return on equity of 78.80% and a net margin of 8.20%. The business had revenue of $7.50 billion during the quarter, compared to analyst estimates of $7.16 billion. During the same quarter in the previous year, the firm earned $1.27 EPS. Philip Morris International’s revenue was up .4% on a year-over-year basis. As a group, equities analysts forecast that Philip Morris International Inc. will post 5.01 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 11th. Shareholders of record on Thursday, December 20th were given a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a yield of 6.56%. The ex-dividend date was Wednesday, December 19th. Philip Morris International’s dividend payout ratio (DPR) is 92.49%.
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Philip Morris International Company Profile
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.
Further Reading: Hedge Funds Explained
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).
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