Koshinski Asset Management Inc. cut its holdings in Philip Morris International Inc. (NYSE:PM) by 15.0% during the 4th quarter, HoldingsChannel reports. The fund owned 5,986 shares of the company’s stock after selling 1,055 shares during the period. Koshinski Asset Management Inc.’s holdings in Philip Morris International were worth $400,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in PM. Thrivent Financial for Lutherans lifted its holdings in shares of Philip Morris International by 25.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 181,402 shares of the company’s stock valued at $14,791,000 after buying an additional 36,357 shares during the period. Schroder Investment Management Group lifted its holdings in shares of Philip Morris International by 53.0% during the 3rd quarter. Schroder Investment Management Group now owns 5,916,842 shares of the company’s stock valued at $482,460,000 after buying an additional 2,048,754 shares during the period. JGP Wealth Management LLC lifted its holdings in shares of Philip Morris International by 19.8% during the 3rd quarter. JGP Wealth Management LLC now owns 3,041 shares of the company’s stock valued at $249,000 after buying an additional 502 shares during the period. Joel Isaacson & Co. LLC lifted its holdings in shares of Philip Morris International by 137.1% during the 4th quarter. Joel Isaacson & Co. LLC now owns 17,149 shares of the company’s stock valued at $1,192,000 after buying an additional 9,915 shares during the period. Finally, First Foundation Advisors lifted its holdings in shares of Philip Morris International by 6.4% during the 3rd quarter. First Foundation Advisors now owns 399,496 shares of the company’s stock valued at $32,575,000 after buying an additional 23,947 shares during the period. 74.45% of the stock is currently owned by institutional investors and hedge funds.
In other Philip Morris International news, CEO Andre Calantzopoulos sold 50,000 shares of the stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $84.76, for a total value of $4,238,000.00. Following the completion of the sale, the chief executive officer now owns 844,901 shares in the company, valued at approximately $71,613,808.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.22% of the company’s stock.
Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, February 7th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.16 by $0.09. Philip Morris International had a negative return on equity of 76.82% and a net margin of 9.90%. The firm had revenue of $7.50 billion during the quarter, compared to analyst estimates of $7.46 billion. During the same period in the prior year, the business posted $1.32 EPS. Philip Morris International’s revenue was down 9.6% on a year-over-year basis. As a group, research analysts anticipate that Philip Morris International Inc. will post 5.36 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Tuesday, March 26th will be paid a $1.14 dividend. The ex-dividend date is Monday, March 25th. This represents a $4.56 dividend on an annualized basis and a yield of 5.08%. Philip Morris International’s payout ratio is presently 89.41%.
Several equities analysts have recently weighed in on PM shares. Piper Jaffray Companies set a $110.00 price target on Philip Morris International and gave the company a “buy” rating in a report on Monday, December 3rd. Credit Suisse Group lowered Philip Morris International from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $92.00 to $74.00 in a research note on Tuesday, December 18th. ValuEngine lowered Philip Morris International from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. Morgan Stanley reduced their price objective on Philip Morris International from $102.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, January 8th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $80.00 price objective on shares of Philip Morris International in a research note on Sunday, February 10th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $91.86.
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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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