Means Investment CO. Inc. reduced its holdings in shares of Philip Morris International Inc. (NYSE:PM – Get Rating) by 0.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,170 shares of the company's stock after selling 133 shares during the quarter. Philip Morris International accounts for about 0.8% of Means Investment CO. Inc.'s holdings, making the stock its 27th biggest position. Means Investment CO. Inc.'s holdings in Philip Morris International were worth $3,868,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Golden State Wealth Management LLC grew its stake in Philip Morris International by 21.2% during the fourth quarter. Golden State Wealth Management LLC now owns 2,997 shares of the company's stock valued at $285,000 after acquiring an additional 525 shares in the last quarter. Bivin & Associates Inc. bought a new position in Philip Morris International in the 4th quarter worth $27,000. D. E. Shaw & Co. Inc. grew its position in shares of Philip Morris International by 453.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 883,678 shares of the company's stock worth $83,950,000 after buying an additional 723,867 shares during the period. 626 Financial LLC purchased a new stake in shares of Philip Morris International in the 4th quarter worth about $349,000. Finally, Delos Wealth Advisors LLC purchased a new stake in shares of Philip Morris International in the 4th quarter worth about $42,000. 76.00% of the stock is currently owned by institutional investors and hedge funds.
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Analysts Set New Price Targets
Several equities analysts have recently weighed in on the stock. Credit Suisse Group reiterated a "neutral" rating and issued a $107.00 price objective on shares of Philip Morris International in a research note on Wednesday. Jefferies Financial Group dropped their price objective on shares of Philip Morris International from $107.00 to $99.00 in a research note on Tuesday, July 19th. Finally, StockNews.com upgraded Philip Morris International from a "hold" rating to a "buy" rating in a report on Tuesday, July 26th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $108.89.
Philip Morris International Stock Down 1.4 %
Shares of NYSE:PM opened at $86.09 on Friday. The business has a fifty day moving average of $96.23 and a two-hundred day moving average of $98.26. The stock has a market cap of $133.45 billion, a P/E ratio of 14.79, a PEG ratio of 3.45 and a beta of 0.62. Philip Morris International Inc. has a 52-week low of $85.61 and a 52-week high of $112.48.
Philip Morris International (NYSE:PM – Get Rating) last released its quarterly earnings results on Thursday, July 21st. The company reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.24 by $0.24. Philip Morris International had a negative return on equity of 115.36% and a net margin of 11.05%. The business had revenue of $7.83 billion during the quarter, compared to analysts' expectations of $6.76 billion. During the same period in the prior year, the business posted $1.57 EPS. The company's revenue was down .1% compared to the same quarter last year. On average, equities analysts anticipate that Philip Morris International Inc. will post 5.84 earnings per share for the current year.
Philip Morris International Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 12th. Stockholders of record on Wednesday, September 28th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 5.90%. The ex-dividend date is Tuesday, September 27th. This is a positive change from Philip Morris International's previous quarterly dividend of $1.25. Philip Morris International's dividend payout ratio (DPR) is 87.29%.
Philip Morris International Profile
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Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products that are sold in markets outside the United States.
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