Greenleaf Trust Increases Holdings in Philip Morris International Inc. (PM)

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Greenleaf Trust boosted its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 19.4% in the third quarter, HoldingsChannel.com reports. The fund owned 18,463 shares of the company’s stock after buying an additional 2,999 shares during the quarter. Greenleaf Trust’s holdings in Philip Morris International were worth $1,505,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Alerus Financial NA lifted its holdings in shares of Philip Morris International by 11.3% during the 2nd quarter. Alerus Financial NA now owns 87,413 shares of the company’s stock valued at $7,058,000 after buying an additional 8,897 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Philip Morris International by 11.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 201,092 shares of the company’s stock valued at $16,235,000 after buying an additional 20,196 shares during the last quarter. Zacks Investment Management lifted its holdings in shares of Philip Morris International by 7.4% during the 2nd quarter. Zacks Investment Management now owns 527,234 shares of the company’s stock valued at $42,569,000 after buying an additional 36,303 shares during the last quarter. IMA Wealth Inc. acquired a new stake in shares of Philip Morris International during the 2nd quarter valued at about $149,000. Finally, Jupiter Asset Management Ltd. lifted its holdings in shares of Philip Morris International by 102.3% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 72,816 shares of the company’s stock valued at $5,879,000 after buying an additional 36,816 shares during the last quarter. Hedge funds and other institutional investors own 72.92% of the company’s stock.

Shares of NYSE PM opened at $88.07 on Thursday. The company has a market capitalization of $140.64 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 2.07 and a beta of 0.80. Philip Morris International Inc. has a 12 month low of $76.21 and a 12 month high of $111.25.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, October 18th. The company reported $1.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.16. The company had revenue of $7.50 billion for the quarter, compared to the consensus estimate of $7.16 billion. Philip Morris International had a negative return on equity of 78.80% and a net margin of 8.20%. The company’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the previous year, the business posted $1.27 EPS. On average, equities analysts anticipate that Philip Morris International Inc. will post 5.01 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Wednesday, September 26th were given a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 5.18%. The ex-dividend date was Tuesday, September 25th. Philip Morris International’s dividend payout ratio is currently 92.49%.

A number of research analysts recently weighed in on the company. ValuEngine raised Philip Morris International from a “strong sell” rating to a “sell” rating in a research note on Monday, July 30th. Zacks Investment Research downgraded Philip Morris International from a “hold” rating to a “sell” rating in a research note on Monday, September 24th. Societe Generale set a $95.00 price objective on Philip Morris International and gave the company a “hold” rating in a research note on Monday, October 22nd. Stifel Nicolaus cut their price objective on Philip Morris International from $100.00 to $93.00 and set a “buy” rating on the stock in a research note on Friday, July 20th. Finally, JPMorgan Chase & Co. downgraded Philip Morris International from an “overweight” rating to a “neutral” rating in a research note on Friday, July 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. Philip Morris International has an average rating of “Buy” and a consensus price target of $98.08.

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.

See Also: Dividend

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

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