Philip Morris International Inc. (NYSE:PM) Stake Reduced by Parsec Financial Management Inc.

Parsec Financial Management Inc. reduced its stake in shares of Philip Morris International Inc. (NYSE:PMGet Rating) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,970 shares of the company’s stock after selling 201 shares during the quarter. Parsec Financial Management Inc.’s holdings in Philip Morris International were worth $947,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. boosted its position in Philip Morris International by 0.6% during the 3rd quarter. BlackRock Inc. now owns 91,929,488 shares of the company’s stock worth $8,713,997,000 after acquiring an additional 536,032 shares during the period. Capital World Investors boosted its position in Philip Morris International by 2.7% during the 3rd quarter. Capital World Investors now owns 82,760,572 shares of the company’s stock worth $7,844,875,000 after acquiring an additional 2,152,766 shares during the period. Capital Research Global Investors boosted its position in Philip Morris International by 1.8% during the 3rd quarter. Capital Research Global Investors now owns 57,783,253 shares of the company’s stock worth $5,477,299,000 after acquiring an additional 1,025,283 shares during the period. Morgan Stanley lifted its holdings in shares of Philip Morris International by 1.8% in the third quarter. Morgan Stanley now owns 45,512,114 shares of the company’s stock valued at $4,314,093,000 after buying an additional 793,619 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Philip Morris International by 3.2% in the third quarter. Geode Capital Management LLC now owns 27,118,766 shares of the company’s stock valued at $2,564,768,000 after buying an additional 841,001 shares during the period. Hedge funds and other institutional investors own 75.20% of the company’s stock.

A number of equities research analysts have recently issued reports on the company. StockNews.com assumed coverage on Philip Morris International in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Morgan Stanley upped their price target on Philip Morris International from $104.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, April 22nd. Bank of America upped their price target on Philip Morris International from $107.00 to $117.00 in a research report on Sunday, April 24th. Stifel Nicolaus dropped their price target on Philip Morris International from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, March 25th. Finally, The Goldman Sachs Group lowered Philip Morris International from a “buy” rating to a “neutral” rating and dropped their price target for the company from $116.00 to $100.00 in a research report on Tuesday, March 22nd. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $112.00.

Shares of PM traded down $2.41 during midday trading on Friday, hitting $100.00. The stock had a trading volume of 4,911,250 shares, compared to its average volume of 5,439,732. The company has a 50 day simple moving average of $98.16 and a two-hundred day simple moving average of $97.41. The firm has a market cap of $155.01 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 3.57 and a beta of 0.77. Philip Morris International Inc. has a twelve month low of $85.64 and a twelve month high of $112.48.

Philip Morris International (NYSE:PMGet Rating) last issued its quarterly earnings data on Thursday, April 21st. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. The company had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.43 billion. Philip Morris International had a negative return on equity of 110.49% and a net margin of 10.97%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.57 earnings per share. On average, sell-side analysts predict that Philip Morris International Inc. will post 5.53 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 12th. Stockholders of record on Thursday, March 24th were issued a dividend of $1.25 per share. The ex-dividend date was Wednesday, March 23rd. This represents a $5.00 annualized dividend and a dividend yield of 5.00%. Philip Morris International’s dividend payout ratio (DPR) is presently 86.51%.

In other Philip Morris International news, insider Wilde Frederic De sold 29,941 shares of the company’s stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of $108.49, for a total transaction of $3,248,299.09. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.13% of the company’s stock.

Philip Morris International Company Profile (Get Rating)

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, 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 Creations, HEETS Dimensions, HEETS Marlboro, HEETS FROM MARLBORO, Marlboro Dimensions, Marlboro HeatSticks, and Parliament HeatSticks brands, as well as under the Fiit and Miix licensed brands.

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

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