Beese Fulmer Investment Management Inc. reduced its holdings in Philip Morris International Inc. (NYSE:PM) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 73,820 shares of the company’s stock after selling 611 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Philip Morris International were worth $5,797,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Capital Wealth Management LLC bought a new stake in shares of Philip Morris International during the first quarter valued at approximately $234,000. Municipal Employees Retirement System of Michigan bought a new stake in shares of Philip Morris International during the fourth quarter valued at approximately $5,362,000. Keystone Financial Group increased its holdings in shares of Philip Morris International by 1.0% during the first quarter. Keystone Financial Group now owns 16,521 shares of the company’s stock valued at $1,460,000 after acquiring an additional 165 shares in the last quarter. Avalon Advisors LLC increased its holdings in shares of Philip Morris International by 5,917.2% during the fourth quarter. Avalon Advisors LLC now owns 1,250,502 shares of the company’s stock valued at $83,484,000 after acquiring an additional 1,229,720 shares in the last quarter. Finally, Aviance Capital Management LLC bought a new stake in shares of Philip Morris International during the fourth quarter valued at approximately $2,333,000. Institutional investors and hedge funds own 73.46% of the company’s stock.
In other news, Director Louis C. Camilleri sold 70,000 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $83.54, for a total transaction of $5,847,800.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Michael R. Kunst purchased 2,500 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were purchased at an average cost of $84.67 per share, for a total transaction of $211,675.00. The disclosure for this purchase can be found here. In the last three months, insiders acquired 4,000 shares of company stock worth $331,705. Insiders own 0.21% of the company’s stock.
Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, July 18th. The company reported $1.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.13. Philip Morris International had a negative return on equity of 80.96% and a net margin of 10.03%. The business had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.42 billion. During the same quarter in the previous year, the firm earned $1.41 earnings per share. The business’s revenue was down .3% on a year-over-year basis. On average, sell-side analysts predict that Philip Morris International Inc. will post 5.24 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 21st were given a $1.14 dividend. The ex-dividend date was Thursday, June 20th. This represents a $4.56 annualized dividend and a yield of 5.26%. Philip Morris International’s dividend payout ratio is currently 89.41%.
PM has been the subject of several recent research reports. Zacks Investment Research upgraded Investors Real Estate Trust Reit from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd. Wells Fargo & Co set a $15.00 price objective on United Insurance and gave the company a “hold” rating in a report on Friday. Bank of America set a $120.00 price objective on Walmart and gave the company a “buy” rating in a report on Friday, May 17th. ValuEngine downgraded United Rentals from a “sell” rating to a “strong sell” rating in a report on Thursday, July 18th. Finally, Citigroup boosted their price objective on Philip Morris International from $90.00 to $102.00 and gave the company a “buy” rating in a report on Monday, March 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $93.69.
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.
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