Orrstown Financial Services Inc. lifted its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 63.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,943 shares of the company’s stock after purchasing an additional 751 shares during the period. Orrstown Financial Services Inc.’s holdings in Philip Morris International were worth $172,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in PM. Municipal Employees Retirement System of Michigan bought a new position in Philip Morris International in the fourth quarter valued at about $5,362,000. Thrivent Financial for Lutherans lifted its stake in Philip Morris International by 25.1% in the third quarter. Thrivent Financial for Lutherans now owns 181,402 shares of the company’s stock valued at $14,791,000 after buying an additional 36,357 shares during the period. Aviance Capital Management LLC acquired a new position in Philip Morris International in the fourth quarter valued at about $2,333,000. Avalon Advisors LLC lifted its stake in Philip Morris International by 5,917.2% in the fourth quarter. Avalon Advisors LLC now owns 1,250,502 shares of the company’s stock valued at $83,484,000 after buying an additional 1,229,720 shares during the period. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in Philip Morris International by 31.7% in the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 8,800 shares of the company’s stock valued at $587,000 after buying an additional 2,120 shares during the period. Institutional investors own 73.53% of the company’s stock.
Several equities analysts have weighed in on the company. Citigroup increased their target price on Philip Morris International from $90.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, March 25th. ValuEngine raised Philip Morris International from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Bank of America reissued a “sell” rating and issued a $74.00 target price on shares of Philip Morris International in a research note on Tuesday, March 26th. Zacks Investment Research lowered Philip Morris International from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. Finally, UBS Group raised Philip Morris International from a “neutral” rating to a “buy” rating and increased their target price for the company from $86.00 to $101.00 in a research note on Wednesday, February 27th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $92.43.
NYSE PM opened at $86.21 on Wednesday. The stock has a market cap of $134.09 billion, a PE ratio of 16.90, a price-to-earnings-growth ratio of 1.93 and a beta of 0.95. Philip Morris International Inc. has a one year low of $64.67 and a one year high of $103.55.
Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, February 7th. The company reported $1.25 EPS for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.09. The company had revenue of $7.50 billion for the quarter, compared to analyst estimates of $7.46 billion. Philip Morris International had a negative return on equity of 76.82% and a net margin of 9.90%. Philip Morris International’s revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.32 earnings per share. Research analysts forecast that Philip Morris International Inc. will post 5.26 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Tuesday, March 26th were given a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date of this dividend was Monday, March 25th. Philip Morris International’s dividend payout ratio is currently 89.41%.
In other news, CEO Andre Calantzopoulos sold 50,000 shares of the firm’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $84.76, for a total transaction of $4,238,000.00. Following the sale, the chief executive officer now owns 844,901 shares of the company’s stock, valued at $71,613,808.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.21% of the company’s stock.
About Philip Morris International
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.
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