Carroll Financial Associates Inc. Lowers Holdings in Philip Morris International Inc. (NYSE:PM)

Share on StockTwits

Carroll Financial Associates Inc. lessened its stake in Philip Morris International Inc. (NYSE:PM) by 11.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 24,748 shares of the company’s stock after selling 3,358 shares during the quarter. Carroll Financial Associates Inc.’s holdings in Philip Morris International were worth $1,879,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of PM. Outlook Wealth Advisors LLC raised its position in shares of Philip Morris International by 450.5% during the first quarter. Outlook Wealth Advisors LLC now owns 9,860 shares of the company’s stock valued at $872,000 after buying an additional 8,069 shares during the last quarter. Frisch Financial Group Inc. raised its position in shares of Philip Morris International by 27.6% during the first quarter. Frisch Financial Group Inc. now owns 5,274 shares of the company’s stock valued at $466,000 after buying an additional 1,142 shares during the last quarter. NBT Bank N A NY raised its position in shares of Philip Morris International by 0.3% during the first quarter. NBT Bank N A NY now owns 41,531 shares of the company’s stock valued at $3,671,000 after buying an additional 120 shares during the last quarter. IndexIQ Advisors LLC acquired a new position in shares of Philip Morris International during the first quarter valued at about $4,504,000. Finally, CIBC Asset Management Inc raised its position in shares of Philip Morris International by 42.6% during the first quarter. CIBC Asset Management Inc now owns 266,716 shares of the company’s stock valued at $23,572,000 after buying an additional 79,731 shares during the last quarter. 74.11% of the stock is owned by hedge funds and other institutional investors.

NYSE:PM traded up $0.76 during mid-day trading on Wednesday, hitting $77.13. The company’s stock had a trading volume of 145,880 shares, compared to its average volume of 5,977,831. Philip Morris International Inc. has a fifty-two week low of $64.67 and a fifty-two week high of $92.74. The company has a market capitalization of $121.79 billion, a price-to-earnings ratio of 15.13, a P/E/G ratio of 1.92 and a beta of 1.00. The stock has a fifty day moving average of $75.26 and a 200-day moving average of $81.28.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, July 18th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.13. Philip Morris International had a net margin of 10.03% and a negative return on equity of 80.96%. The firm had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.42 billion. During the same quarter in the prior year, the business posted $1.41 earnings per share. The company’s quarterly revenue was down .3% compared to the same quarter last year. Sell-side analysts expect that Philip Morris International Inc. will post 5.2 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 25th will be given a $1.17 dividend. This represents a $4.68 annualized dividend and a yield of 6.07%. The ex-dividend date of this dividend is Tuesday, September 24th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.14. Philip Morris International’s dividend payout ratio is 91.76%.

A number of research analysts have recently commented on PM shares. Bank of America raised shares of Philip Morris International from a “neutral” rating to a “buy” rating and set a $96.00 price objective for the company in a research report on Tuesday, October 1st. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a research report on Wednesday, September 4th. ValuEngine lowered shares of Philip Morris International from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Morgan Stanley cut their price objective on shares of Philip Morris International from $94.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Finally, Barclays raised shares of Philip Morris International from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $82.00 to $100.00 in a research report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $93.92.

In related news, insider Mario Masseroli sold 1,100 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $87.42, for a total value of $96,162.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.21% of the company’s stock.

Philip Morris International Company Profile

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.

Recommended Story: What Does a Sell-Side Analyst Rating Mean?

Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM).

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

Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.