Point72 Hong Kong Ltd Sells 1,547 Shares of Philip Morris International Inc. (PM)
Point72 Hong Kong Ltd trimmed its holdings in Philip Morris International Inc. (NYSE:PM) by 28.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,978 shares of the company’s stock after selling 1,547 shares during the period. Point72 Hong Kong Ltd’s holdings in Philip Morris International were worth $321,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of PM. Alerus Financial NA lifted its stake in Philip Morris International by 11.3% in the second quarter. Alerus Financial NA now owns 87,413 shares of the company’s stock worth $7,058,000 after acquiring an additional 8,897 shares during the last quarter. IMA Wealth Inc. acquired a new stake in Philip Morris International during the second quarter worth approximately $149,000. Sumitomo Life Insurance Co. raised its holdings in Philip Morris International by 6.7% during the second quarter. Sumitomo Life Insurance Co. now owns 68,443 shares of the company’s stock worth $5,526,000 after purchasing an additional 4,321 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Philip Morris International by 11.2% during the second quarter. Envestnet Asset Management Inc. now owns 201,092 shares of the company’s stock worth $16,235,000 after purchasing an additional 20,196 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in Philip Morris International by 8.4% during the second quarter. Great West Life Assurance Co. Can now owns 1,889,087 shares of the company’s stock worth $152,646,000 after purchasing an additional 145,893 shares in the last quarter. Institutional investors and hedge funds own 72.88% of the company’s stock.
A number of analysts have weighed in on PM shares. Jefferies Financial Group reissued a “buy” rating and set a $93.00 price objective on shares of Philip Morris International in a report on Friday, July 13th. Citigroup set a $90.00 price objective on shares of Philip Morris International and gave the stock a “buy” rating in a report on Friday, July 20th. ValuEngine raised shares of Philip Morris International from a “strong sell” rating to a “sell” rating in a report on Monday, July 30th. Societe Generale cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, July 23rd. Finally, Argus raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a report on Wednesday, July 25th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $103.36.
Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, July 19th. The company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.18. The business had revenue of $7.73 billion for the quarter, compared to analysts’ expectations of $7.53 billion. Philip Morris International had a net margin of 7.84% and a negative return on equity of 76.67%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 EPS. equities research analysts expect that Philip Morris International Inc. will post 5.04 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 12th. Stockholders of record on Wednesday, September 26th will be issued a $1.14 dividend. The ex-dividend date of this dividend is Tuesday, September 25th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.72%. Philip Morris International’s payout ratio is 92.49%.
About Philip Morris International
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.
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