MAI Capital Management Sells 1,458 Shares of Philip Morris International Inc. (PM)

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MAI Capital Management reduced its stake in shares of Philip Morris International Inc. (NYSE:PM) by 5.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 26,054 shares of the company’s stock after selling 1,458 shares during the quarter. MAI Capital Management’s holdings in Philip Morris International were worth $2,124,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. KAMES CAPITAL plc bought a new position in shares of Philip Morris International in the third quarter worth about $823,000. Gradient Investments LLC increased its stake in shares of Philip Morris International by 6.6% in the third quarter. Gradient Investments LLC now owns 115,038 shares of the company’s stock worth $9,380,000 after purchasing an additional 7,102 shares during the period. Iberiabank Corp increased its stake in shares of Philip Morris International by 9.0% in the third quarter. Iberiabank Corp now owns 58,567 shares of the company’s stock worth $4,776,000 after purchasing an additional 4,816 shares during the period. Advisors Capital Management LLC increased its stake in shares of Philip Morris International by 3.1% in the third quarter. Advisors Capital Management LLC now owns 196,100 shares of the company’s stock worth $15,990,000 after purchasing an additional 5,859 shares during the period. Finally, First Bank & Trust increased its stake in shares of Philip Morris International by 5.3% in the third quarter. First Bank & Trust now owns 26,260 shares of the company’s stock worth $2,045,000 after purchasing an additional 1,324 shares during the period. Institutional investors own 72.73% of the company’s stock.

PM stock opened at $82.31 on Friday. Philip Morris International Inc. has a twelve month low of $76.21 and a twelve month high of $115.15. The stock has a market cap of $126.75 billion, a P/E ratio of 16.70, a PEG ratio of 1.81 and a beta of 0.79. The company has a debt-to-equity ratio of -2.76, a quick ratio of 0.64 and a current ratio of 1.15.

Philip Morris International (NYSE:PM) last released its earnings results on Thursday, July 19th. The company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.18. Philip Morris International had a negative return on equity of 76.67% and a net margin of 7.84%. The business had revenue of $7.73 billion for the quarter, compared to the consensus estimate of $7.53 billion. During the same period last year, the business earned $1.14 earnings per share. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, sell-side analysts predict that Philip Morris International Inc. will post 5.01 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Wednesday, September 26th were issued a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date was Tuesday, September 25th. Philip Morris International’s payout ratio is 92.49%.

PM has been the topic of a number of recent research reports. ValuEngine raised Philip Morris International from a “strong sell” rating to a “sell” rating in a research report on Monday, July 30th. Zacks Investment Research downgraded Philip Morris International from a “hold” rating to a “sell” rating in a research report on Monday, September 24th. Piper Jaffray Companies set a $99.00 target price on Philip Morris International and gave the stock a “buy” rating in a research report on Wednesday. Stifel Nicolaus decreased their target price on Philip Morris International from $100.00 to $93.00 and set a “buy” rating on the stock in a research report on Friday, July 20th. Finally, JPMorgan Chase & Co. downgraded Philip Morris International from an “overweight” rating to a “neutral” rating in a research report on Friday, July 20th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $98.00.

Philip Morris International Profile

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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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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