Taurus Asset Management LLC reduced its stake in Philip Morris International Inc. (NYSE:PM – Get Rating) by 5.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,081 shares of the company's stock after selling 400 shares during the period. Taurus Asset Management LLC's holdings in Philip Morris International were worth $665,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the business. Flossbach Von Storch AG raised its position in Philip Morris International by 72.4% during the fourth quarter. Flossbach Von Storch AG now owns 7,527,390 shares of the company's stock valued at $715,102,000 after purchasing an additional 3,160,310 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Philip Morris International by 2.4% in the fourth quarter. BlackRock Inc. now owns 94,109,468 shares of the company's stock worth $8,940,401,000 after buying an additional 2,179,980 shares during the period. State Street Corp increased its holdings in shares of Philip Morris International by 3.7% in the fourth quarter. State Street Corp now owns 56,505,116 shares of the company's stock worth $5,437,859,000 after buying an additional 1,992,512 shares during the period. Bank of Montreal Can increased its holdings in shares of Philip Morris International by 41.4% in the fourth quarter. Bank of Montreal Can now owns 4,137,029 shares of the company's stock worth $399,224,000 after buying an additional 1,212,015 shares during the period. Finally, Cibc World Markets Corp grew its stake in shares of Philip Morris International by 14.9% in the fourth quarter. Cibc World Markets Corp now owns 8,285,493 shares of the company's stock worth $787,122,000 after purchasing an additional 1,076,634 shares during the last quarter. Institutional investors own 74.78% of the company's stock.
Get Philip Morris International alerts:Philip Morris International Price Performance
Shares of NYSE PM traded down $0.48 during mid-day trading on Thursday, hitting $98.33. 29,203 shares of the company's stock traded hands, compared to its average volume of 5,192,257. The company's 50-day moving average is $98.87 and its two-hundred day moving average is $100.18. The company has a market capitalization of $152.43 billion, a P/E ratio of 16.98, a PEG ratio of 3.90 and a beta of 0.62. Philip Morris International Inc. has a 1 year low of $85.64 and a 1 year high of $112.48.
Philip Morris International (NYSE:PM – Get Rating) last announced its earnings results on Thursday, July 21st. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.22. The firm had revenue of $7.83 billion for the quarter, compared to analysts' expectations of $6.76 billion. Philip Morris International had a net margin of 11.05% and a negative return on equity of 115.36%. The business's revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.57 EPS. Equities analysts anticipate that Philip Morris International Inc. will post 5.56 EPS for the current fiscal year.Philip Morris International Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Friday, July 1st were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend was Thursday, June 30th. Philip Morris International's dividend payout ratio (DPR) is currently 85.91%.
Wall Street Analyst Weigh In
PM has been the topic of several research reports. Jefferies Financial Group cut their price objective on Philip Morris International from $107.00 to $99.00 in a research report on Tuesday, July 19th. Bank of America boosted their target price on shares of Philip Morris International from $107.00 to $117.00 in a research note on Sunday, April 24th. StockNews.com upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research note on Tuesday, July 26th. Finally, Morgan Stanley upped their price objective on Philip Morris International from $104.00 to $112.00 and gave the stock an "overweight" rating in a research note on Friday, April 22nd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Philip Morris International has an average rating of "Moderate Buy" and a consensus target price of $110.33.
About Philip Morris International
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Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products that are sold in markets outside the United States.
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