Cambridge Investment Research Advisors Inc. Reduces Stock Holdings in Philip Morris International Inc. (NYSE:PM)

03 Jan 2024, 13:21 by Danessa Lincoln · The Markets Daily

Cambridge Investment Research Advisors Inc. decreased its position in Philip Morris International Inc. (NYSE:PM – Free Report) by 6.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 187,309 shares of the company’s stock after selling 13,129 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Philip Morris International were worth $17,341,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of PM. Studio Investment Management LLC boosted its stake in shares of Philip Morris International by 33.8% during the 4th quarter. Studio Investment Management LLC now owns 428 shares of the company’s stock worth $43,000 after purchasing an additional 108 shares during the period. Townsend Asset Management Corp NC ADV boosted its stake in shares of Philip Morris International by 3.8% during the 3rd quarter. Townsend Asset Management Corp NC ADV now owns 2,993 shares of the company’s stock worth $277,000 after purchasing an additional 110 shares during the period. ERTS Wealth Advisors LLC boosted its stake in shares of Philip Morris International by 3.8% during the 2nd quarter. ERTS Wealth Advisors LLC now owns 3,045 shares of the company’s stock worth $297,000 after purchasing an additional 111 shares during the period. Corrigan Financial Inc. boosted its stake in shares of Philip Morris International by 2.5% during the 2nd quarter. Corrigan Financial Inc. now owns 4,602 shares of the company’s stock worth $449,000 after purchasing an additional 112 shares during the period. Finally, Berger Financial Group Inc boosted its stake in shares of Philip Morris International by 3.0% during the 2nd quarter. Berger Financial Group Inc now owns 3,902 shares of the company’s stock worth $381,000 after purchasing an additional 113 shares during the period. Hedge funds and other institutional investors own 79.70% of the company’s stock.

Philip Morris International Stock Performance

Shares of PM opened at $95.58 on Wednesday. The company has a 50 day moving average price of $92.31 and a 200-day moving average price of $94.38. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $105.62. The stock has a market capitalization of $148.38 billion, a PE ratio of 18.56, a PEG ratio of 2.34 and a beta of 0.67.

Philip Morris International (NYSE:PM – Get Free Report) last announced its quarterly earnings results on Thursday, October 19th. The company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.05. The firm had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.21 billion. Philip Morris International had a net margin of 9.62% and a negative return on equity of 129.48%. The company’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.53 EPS. Equities research analysts forecast that Philip Morris International Inc. will post 6.08 EPS for the current year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Thursday, December 21st will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Wednesday, December 20th. This represents a $5.20 annualized dividend and a dividend yield of 5.44%. Philip Morris International’s dividend payout ratio (DPR) is presently 100.97%.

Insider Buying and Selling

In related news, insider Wilde Frederic De sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $94.25, for a total transaction of $942,500.00. Following the completion of the transaction, the insider now owns 198,447 shares in the company, valued at approximately $18,703,629.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.15% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. StockNews.com started coverage on shares of Philip Morris International in a research note on Thursday, October 5th. They set a “hold” rating for the company. UBS Group lowered their price objective on shares of Philip Morris International from $116.00 to $112.00 and set a “buy” rating for the company in a research report on Thursday, October 5th. Jefferies Financial Group lowered their price objective on shares of Philip Morris International from $111.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, October 13th. Morgan Stanley lowered their price objective on shares of Philip Morris International from $118.00 to $113.00 and set an “overweight” rating for the company in a research report on Monday, October 2nd. Finally, Redburn Atlantic started coverage on shares of Philip Morris International in a research report on Thursday, November 16th. They issued a “neutral” rating and a $95.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and a consensus price target of $109.27.

View Our Latest Stock Analysis on PM

Philip Morris International Profile

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