Philip Morris International Inc. (NYSE:PM) Shares Sold by Associated Banc Corp
Associated Banc Corp cut its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 352,437 shares of the company’s stock after selling 2,579 shares during the period. Philip Morris International accounts for 1.6% of Associated Banc Corp’s portfolio, making the stock its 10th biggest position. Associated Banc Corp’s holdings in Philip Morris International were worth $28,738,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the stock. Fundsmith Equity Fund L.P. bought a new stake in Philip Morris International in the second quarter worth $845,763,000. Flossbach Von Storch AG lifted its holdings in shares of Philip Morris International by 48.1% during the second quarter. Flossbach Von Storch AG now owns 14,212,696 shares of the company’s stock valued at $1,147,533,000 after purchasing an additional 4,618,289 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Philip Morris International by 23.9% during the second quarter. Morgan Stanley now owns 22,738,044 shares of the company’s stock valued at $1,835,871,000 after purchasing an additional 4,386,487 shares in the last quarter. Coronation Fund Managers Ltd. lifted its holdings in shares of Philip Morris International by 1,884.4% during the second quarter. Coronation Fund Managers Ltd. now owns 3,877,270 shares of the company’s stock valued at $313,051,000 after purchasing an additional 3,681,882 shares in the last quarter. Finally, Charles Schwab Investment Advisory Inc. bought a new position in shares of Philip Morris International during the second quarter valued at $277,027,000. 73.32% of the stock is currently owned by institutional investors.
PM traded down $0.73 during midday trading on Friday, reaching $84.56. The company had a trading volume of 4,774,940 shares, compared to its average volume of 4,818,514. The stock has a market cap of $132.59 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.95 and a beta of 0.60. Philip Morris International Inc. has a 1 year low of $76.21 and a 1 year high of $111.25.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Investors of record on Thursday, December 20th will be given a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 5.39%. The ex-dividend date is Wednesday, December 19th. Philip Morris International’s dividend payout ratio is currently 92.49%.
In related news, Director Louis C. Camilleri sold 59,495 shares of the stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $86.98, for a total transaction of $5,174,875.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.22% of the company’s stock.
A number of research analysts have recently issued reports on the company. Citigroup upped their price target on Philip Morris International from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, October 19th. Piper Jaffray Companies set a $110.00 price objective on Philip Morris International and gave the company a “buy” rating in a research report on Monday, December 3rd. Jefferies Financial Group cut Philip Morris International from a “buy” rating to a “hold” rating and set a $80.00 price objective for the company. in a research report on Friday, August 24th. ValuEngine cut Philip Morris International from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 23rd. Finally, Societe Generale set a $95.00 price objective on Philip Morris International and gave the company a “hold” rating in a research report on Monday, October 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. Philip Morris International has an average rating of “Hold” and a consensus price target of $95.73.
Philip Morris International Company 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.
Further Reading: Why is the conference call important?
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.