First Merchants Corp increased its position in shares of Philip Morris International Inc. (NYSE:PM) by 272.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,863 shares of the company’s stock after buying an additional 10,138 shares during the quarter. First Merchants Corp’s holdings in Philip Morris International were worth $1,539,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of PM. Guidant Wealth Advisors grew its stake in Philip Morris International by 25.5% in the second quarter. Guidant Wealth Advisors now owns 939 shares of the company’s stock valued at $110,000 after purchasing an additional 191 shares in the last quarter. Vantage Investment Advisors LLC grew its stake in Philip Morris International by 1.0% in the second quarter. Vantage Investment Advisors LLC now owns 1,033 shares of the company’s stock valued at $121,000 after purchasing an additional 10 shares in the last quarter. Acropolis Investment Management LLC grew its stake in Philip Morris International by 0.5% in the second quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock valued at $123,000 after purchasing an additional 5 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in Philip Morris International by 13.9% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,230 shares of the company’s stock valued at $144,000 after purchasing an additional 150 shares in the last quarter. Finally, Mountain Capital Investment Advisors Inc bought a new position in Philip Morris International in the second quarter valued at approximately $145,000. Institutional investors and hedge funds own 72.36% of the company’s stock.
A number of research firms have weighed in on PM. Jefferies Group decreased their price target on Philip Morris International from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Thursday, October 12th. Piper Jaffray Companies set a $135.00 price objective on Philip Morris International and gave the company a “buy” rating in a research report on Sunday, October 15th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $140.00 price objective on shares of Philip Morris International in a research report on Tuesday, October 10th. Cowen reaffirmed a “buy” rating on shares of Philip Morris International in a research report on Sunday, September 24th. Finally, Goldman Sachs Group raised Philip Morris International from a “buy” rating to a “conviction-buy” rating and set a $135.00 price objective for the company in a research report on Thursday, September 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. Philip Morris International currently has an average rating of “Hold” and a consensus target price of $124.23.
Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, October 19th. The company reported $1.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.11). The business had revenue of $7.50 billion during the quarter, compared to analyst estimates of $7.75 billion. Philip Morris International had a net margin of 9.32% and a negative return on equity of 67.59%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.25 earnings per share. sell-side analysts anticipate that Philip Morris International Inc. will post 4.75 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 11th. Investors of record on Thursday, December 21st will be issued a dividend of $1.07 per share. The ex-dividend date of this dividend is Wednesday, December 20th. This represents a $4.28 annualized dividend and a yield of 4.05%. Philip Morris International’s payout ratio is currently 94.48%.
In related news, Chairman Louis C. Camilleri sold 108,979 shares of Philip Morris International stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $108.38, for a total transaction of $11,811,144.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.23% of the company’s stock.
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Philip Morris International Company Profile
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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