Shell Asset Management Co. Buys 27,767 Shares of Philip Morris International Inc (PM)
Shell Asset Management Co. lifted its stake in shares of Philip Morris International Inc (NYSE:PM) by 9.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 325,504 shares of the company’s stock after acquiring an additional 27,767 shares during the quarter. Philip Morris International makes up approximately 0.9% of Shell Asset Management Co.’s holdings, making the stock its 16th biggest position. Shell Asset Management Co.’s holdings in Philip Morris International were worth $38,230,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in PM. Welch Investments LLC bought a new position in shares of Philip Morris International during the 1st quarter valued at approximately $113,000. American Beacon Advisors Inc. bought a new position in shares of Philip Morris International during the 1st quarter valued at approximately $114,000. Acropolis Investment Management LLC grew its stake in shares of Philip Morris International by 0.5% during the 2nd quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock valued at $123,000 after acquiring an additional 5 shares during the period. Gemmer Asset Management LLC grew its stake in shares of Philip Morris International by 40.6% during the 1st quarter. Gemmer Asset Management LLC now owns 1,115 shares of the company’s stock valued at $126,000 after acquiring an additional 322 shares during the period. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC grew its stake in shares of Philip Morris International by 75.0% during the 1st quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,750 shares of the company’s stock valued at $198,000 after acquiring an additional 750 shares during the period. Institutional investors own 72.02% of the company’s stock.
In other news, insider Drago Azinovic sold 14,000 shares of Philip Morris International stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $116.00, for a total value of $1,624,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.23% of the company’s stock.
Shares of Philip Morris International Inc (NYSE PM) opened at 116.91 on Friday. The stock’s 50 day moving average price is $116.29 and its 200 day moving average price is $115.51. The stock has a market capitalization of $181.58 billion, a PE ratio of 25.91 and a beta of 0.94. Philip Morris International Inc has a one year low of $86.78 and a one year high of $123.55.
Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, July 20th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.23 by ($0.09). The firm had revenue of $6.92 billion during 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 business’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.15 earnings per share. Equities research analysts predict that Philip Morris International Inc will post $4.83 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Wednesday, September 27th will be paid a $1.07 dividend. The ex-dividend date of this dividend is Tuesday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.04. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.66%. Philip Morris International’s payout ratio is currently 92.24%.
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PM has been the topic of a number of research analyst reports. Jefferies Group LLC reissued a “hold” rating and issued a $121.00 price target on shares of Philip Morris International in a report on Tuesday, June 20th. Piper Jaffray Companies set a $134.00 price target on Philip Morris International and gave the stock a “buy” rating in a report on Saturday, August 19th. SBG Securities raised Philip Morris International from a “sell” rating to a “hold” rating and boosted their price target for the stock from $118.00 to $119.00 in a report on Friday, August 11th. BidaskClub raised Philip Morris International from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 21st. Finally, Cowen and Company reissued a “buy” rating and issued a $135.00 price target on shares of Philip Morris International in a report on Tuesday, August 22nd. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $122.79.
Philip Morris International 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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