World Asset Management Inc lowered its stake in Philip Morris International Inc. (NYSE:PM) by 11.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 24,561 shares of the company’s stock after selling 3,088 shares during the period. World Asset Management Inc’s holdings in Philip Morris International were worth $2,328,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in PM. Capital International Investors increased its position in shares of Philip Morris International by 6.6% in the 2nd quarter. Capital International Investors now owns 74,551,934 shares of the company’s stock worth $7,388,259,000 after purchasing an additional 4,609,738 shares during the last quarter. 1832 Asset Management L.P. grew its position in shares of Philip Morris International by 364.8% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,465,338 shares of the company’s stock valued at $241,059,000 after buying an additional 1,934,938 shares during the last quarter. Macquarie Group Ltd. grew its position in shares of Philip Morris International by 175.1% during the 2nd quarter. Macquarie Group Ltd. now owns 2,333,144 shares of the company’s stock valued at $231,238,000 after buying an additional 1,485,175 shares during the last quarter. BlackRock Inc. grew its position in shares of Philip Morris International by 1.5% during the 2nd quarter. BlackRock Inc. now owns 91,393,456 shares of the company’s stock valued at $9,058,006,000 after buying an additional 1,318,842 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Philip Morris International by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 124,832,982 shares of the company’s stock valued at $12,372,196,000 after buying an additional 1,269,844 shares during the last quarter. 74.86% of the stock is owned by institutional investors.
Shares of NYSE PM traded down $0.23 during midday trading on Friday, reaching $101.87. The company’s stock had a trading volume of 2,453 shares, compared to its average volume of 5,937,454. The company has a 50 day moving average price of $93.10 and a 200 day moving average price of $97.18. Philip Morris International Inc. has a one year low of $78.34 and a one year high of $106.51. The company has a market cap of $158.59 billion, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 2.03 and a beta of 0.88.
Philip Morris International (NYSE:PM) last released its earnings results on Monday, October 18th. The company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.03. Philip Morris International had a net margin of 11.11% and a negative return on equity of 98.17%. The business had revenue of $8.12 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same period in the previous year, the firm earned $1.42 EPS. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. Research analysts anticipate that Philip Morris International Inc. will post 6.04 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, January 10th. Stockholders of record on Thursday, December 23rd were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, December 22nd. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.91%. Philip Morris International’s dividend payout ratio is currently 86.81%.
PM has been the subject of a number of analyst reports. Barclays reduced their target price on shares of Philip Morris International from $116.00 to $113.00 and set an “overweight” rating for the company in a research note on Monday, November 29th. Morgan Stanley reduced their target price on shares of Philip Morris International from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Thursday, December 2nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Philip Morris International has a consensus rating of “Buy” and an average target price of $106.00.
Philip Morris International Company Profile
Philip Morris International, Inc is a holding company. It engages in manufacturing and sale of cigarettes, tobacco and nicotine-containing products. It operates through the following geographical segments: European Union, Eastern Europe, Middles East & Africa, South & Southeast Asia, East Asia & Australia and Latin America & Canada.
Further Reading: What are the disadvantages of after-hours trading?