Stifel Financial Corp Acquires 39,437 Shares of Philip Morris International Inc (PM)
Stifel Financial Corp boosted its holdings in Philip Morris International Inc (NYSE:PM) by 3.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,259,803 shares of the company’s stock after acquiring an additional 39,437 shares during the quarter. Stifel Financial Corp owned 0.08% of Philip Morris International worth $148,121,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. RKL Wealth Management LLC bought a new position in Philip Morris International in the 2nd quarter valued at about $322,000. Summit Financial Wealth Advisors LLC lifted its position in Philip Morris International by 6.5% in the 2nd quarter. Summit Financial Wealth Advisors LLC now owns 36,931 shares of the company’s stock valued at $4,338,000 after acquiring an additional 2,251 shares in the last quarter. Nicholas Hoffman & Company LLC. lifted its position in Philip Morris International by 0.5% in the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 25,836 shares of the company’s stock valued at $3,034,000 after acquiring an additional 119 shares in the last quarter. Zacks Investment Management lifted its position in Philip Morris International by 2.1% in the 2nd quarter. Zacks Investment Management now owns 471,502 shares of the company’s stock valued at $55,378,000 after acquiring an additional 9,816 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware lifted its position in Philip Morris International by 8.9% in the 2nd quarter. Mckinley Capital Management LLC Delaware now owns 352,200 shares of the company’s stock valued at $41,366,000 after acquiring an additional 28,679 shares in the last quarter. 72.63% of the stock is currently owned by institutional investors and hedge funds.
Shares of Philip Morris International Inc (NYSE:PM) traded down $0.11 during mid-day trading on Friday, hitting $106.59. 4,577,252 shares of the stock traded hands, compared to its average volume of 4,274,163. The company has a debt-to-equity ratio of -2.91, a quick ratio of 0.68 and a current ratio of 1.13. Philip Morris International Inc has a 12 month low of $88.90 and a 12 month high of $123.55. The stock has a market cap of $165,726.75, a price-to-earnings ratio of 23.76, a P/E/G ratio of 2.16 and a beta of 0.90.
Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, October 19th. The company reported $1.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.11). Philip Morris International had a negative return on equity of 67.59% and a net margin of 9.32%. The company had revenue of $7.50 billion for the quarter, compared to analysts’ expectations of $7.75 billion. During the same quarter in the previous year, the business earned $1.25 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. equities research analysts anticipate that Philip Morris International Inc will post 4.75 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Thursday, December 21st will be paid 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 dividend yield of 4.02%. Philip Morris International’s payout ratio is currently 94.48%.
In other news, Chairman Louis C. Camilleri sold 108,979 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $108.38, for a total transaction of $11,811,144.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.23% of the company’s stock.
Several research firms have commented on PM. Zacks Investment Research cut shares of Philip Morris International from a “hold” rating to a “sell” rating in a research report on Tuesday, October 24th. Piper Jaffray Companies set a $134.00 target price on shares of Philip Morris International and gave the stock a “buy” rating in a research report on Saturday, August 19th. Goldman Sachs Group raised shares of Philip Morris International from a “buy” rating to a “conviction-buy” rating and set a $135.00 target price on the stock in a research report on Thursday, September 28th. SBG Securities raised shares of Philip Morris International from a “sell” rating to a “hold” rating and lifted their target price for the stock from $118.00 to $119.00 in a research report on Friday, August 11th. Finally, BidaskClub raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $124.23.
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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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