Busey Bank reduced its position in Philip Morris International Inc. (NYSE:PM – Free Report) by 2.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 189,809 shares of the company’s stock after selling 3,836 shares during the period. Busey Bank’s holdings in Philip Morris International were worth $23,043,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PM. Moody Lynn & Lieberson LLC bought a new position in Philip Morris International during the third quarter valued at approximately $220,000. Mainstay Capital Management LLC ADV raised its stake in Philip Morris International by 2.4% during the 3rd quarter. Mainstay Capital Management LLC ADV now owns 15,799 shares of the company’s stock valued at $1,918,000 after buying an additional 367 shares during the last quarter. Dakota Wealth Management lifted its holdings in shares of Philip Morris International by 10.2% during the 3rd quarter. Dakota Wealth Management now owns 23,282 shares of the company’s stock valued at $2,827,000 after buying an additional 2,149 shares during the period. IFM Investors Pty Ltd boosted its stake in shares of Philip Morris International by 0.4% in the 3rd quarter. IFM Investors Pty Ltd now owns 251,741 shares of the company’s stock worth $30,561,000 after buying an additional 1,026 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC grew its holdings in shares of Philip Morris International by 16.2% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 638 shares of the company’s stock worth $77,000 after acquiring an additional 89 shares during the period. 78.63% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.13% of the company’s stock.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Analysis on PM
Philip Morris International Stock Performance
PM stock opened at $132.79 on Friday. The company’s fifty day moving average price is $121.97 and its 200-day moving average price is $109.28. Philip Morris International Inc. has a one year low of $87.23 and a one year high of $132.90. The company has a market capitalization of $206.46 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 2.57 and a beta of 0.55.
Philip Morris International (NYSE:PM – Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.82 by $0.09. The business had revenue of $9.91 billion for the quarter, compared to analysts’ expectations of $9.68 billion. Philip Morris International had a net margin of 12.10% and a negative return on equity of 117.94%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.67 EPS. On average, research analysts predict that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.
Philip Morris International Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend was Thursday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is currently 85.71%.
Philip Morris International Company Profile
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 primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.
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