Mackay Shields LLC reduced its holdings in Philip Morris International Inc. (NYSE:PM) by 29.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 230,458 shares of the company’s stock after selling 96,956 shares during the quarter. Mackay Shields LLC’s holdings in Philip Morris International were worth $22,841,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in Philip Morris International by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 124,832,982 shares of the company’s stock valued at $12,372,196,000 after purchasing an additional 1,269,844 shares during the last quarter. BlackRock Inc. lifted its position in Philip Morris International by 1.5% in the 2nd quarter. BlackRock Inc. now owns 91,393,456 shares of the company’s stock valued at $9,058,006,000 after purchasing an additional 1,318,842 shares during the last quarter. Capital International Investors lifted its position in Philip Morris International by 11.2% in the 1st quarter. Capital International Investors now owns 69,942,196 shares of the company’s stock valued at $6,206,961,000 after purchasing an additional 7,039,559 shares during the last quarter. Geode Capital Management LLC lifted its position in Philip Morris International by 3.8% in the 2nd quarter. Geode Capital Management LLC now owns 26,277,765 shares of the company’s stock valued at $2,598,068,000 after purchasing an additional 958,285 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Philip Morris International by 1.6% in the 1st quarter. Bank of New York Mellon Corp now owns 20,559,586 shares of the company’s stock valued at $1,824,459,000 after purchasing an additional 325,321 shares during the last quarter. Institutional investors own 75.05% of the company’s stock.
Several research firms have commented on PM. TheStreet raised shares of Philip Morris International from a “c+” rating to a “b” rating in a research note on Tuesday, July 20th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Philip Morris International from $114.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, August 19th. Morgan Stanley reissued a “buy” rating and set a $110.00 target price on shares of Philip Morris International in a research note on Friday, July 2nd. Finally, Barclays set a $98.59 target price on shares of Philip Morris International and gave the company an “overweight” rating in a research note on Friday, July 23rd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $102.60.
Philip Morris International (NYSE:PM) last posted its earnings results on Monday, July 19th. The company reported $1.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.55 by $0.02. Philip Morris International had a net margin of 11.13% and a negative return on equity of 91.56%. The firm had revenue of $7.84 billion during the quarter, compared to analysts’ expectations of $7.71 billion. During the same period in the previous year, the company earned $1.29 earnings per share. The company’s revenue was up 17.9% compared to the same quarter last year. On average, equities analysts predict that Philip Morris International Inc. will post 6.07 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 14th. Stockholders of record on Wednesday, September 29th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 5.07%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.20. The ex-dividend date is Tuesday, September 28th. Philip Morris International’s payout ratio is presently 96.71%.
In other news, CEO Martin G. King sold 21,725 shares of the business’s stock in a transaction on Tuesday, July 27th. The shares were sold at an average price of $100.18, for a total value of $2,176,410.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is currently owned by insiders.
About Philip Morris International
Philip Morris International, Inc is a holding company. It engages in manufacturing and sale of cigarettes, tobacco and nicotine-containing products. It operates through the following geographical segments: European Union, Eastern Europe, Middles East & Africa, South & Southeast Asia, East Asia & Australia and Latin America & Canada.
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