Arthur M. Cohen & Associates LLC Reduces Stake in Philip Morris International Inc (NYSE:PM)
Arthur M. Cohen & Associates LLC cut its position in Philip Morris International Inc (NYSE:PM) by 5.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,661 shares of the company’s stock after selling 1,860 shares during the period. Philip Morris International makes up approximately 1.7% of Arthur M. Cohen & Associates LLC’s holdings, making the stock its 15th largest position. Arthur M. Cohen & Associates LLC’s holdings in Philip Morris International were worth $3,908,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Philip Morris International during the fourth quarter worth approximately $106,000. Gradient Investments LLC increased its position in Philip Morris International by 76.1% in the first quarter. Gradient Investments LLC now owns 986 shares of the company’s stock worth $111,000 after buying an additional 426 shares in the last quarter. Welch Investments LLC purchased a new position in Philip Morris International during the first quarter worth approximately $113,000. Acropolis Investment Management LLC purchased a new position in Philip Morris International during the first quarter worth approximately $117,000. Finally, Gemmer Asset Management LLC increased its position in Philip Morris International by 40.6% in the first quarter. Gemmer Asset Management LLC now owns 1,115 shares of the company’s stock worth $126,000 after buying an additional 322 shares in the last quarter. Hedge funds and other institutional investors own 72.45% of the company’s stock.
Shares of Philip Morris International Inc (PM) opened at 114.76 on Monday. The stock has a 50 day moving average price of $118.90 and a 200 day moving average price of $112.12. Philip Morris International Inc has a 52-week low of $86.78 and a 52-week high of $123.55. The company has a market capitalization of $178.24 billion, a PE ratio of 25.43 and a beta of 0.93.
Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, July 20th. The company reported $1.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by $0.09. The company had revenue of $6.92 billion for the quarter, compared to analyst estimates of $7.11 billion. Philip Morris International had a negative return on equity of 66.18% and a net margin of 9.36%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the firm earned $1.15 EPS. On average, analysts predict that Philip Morris International Inc will post $4.83 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 11th. Shareholders of record on Friday, June 23rd were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 3.62%. The ex-dividend date was Wednesday, June 21st. Philip Morris International’s dividend payout ratio (DPR) is 92.24%.
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A number of equities analysts recently commented on the company. Jefferies Group LLC restated a “hold” rating and issued a $121.00 price objective on shares of Philip Morris International in a report on Tuesday, June 20th. Vetr downgraded Philip Morris International from a “hold” rating to a “sell” rating and set a $108.70 price objective on the stock. in a report on Monday, May 8th. Cowen and Company restated an “outperform” rating and issued a $120.00 price objective on shares of Philip Morris International in a report on Wednesday, April 19th. BidaskClub upgraded Philip Morris International from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 21st. Finally, Stifel Nicolaus restated a “buy” rating and issued a $118.00 price objective on shares of Philip Morris International in a report on Sunday, April 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. Philip Morris International currently has an average rating of “Buy” and an average target price of $122.00.
About Philip Morris International
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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