Cubist Systematic Strategies LLC Reduces Position in Philip Morris International Inc. (NYSE:PM)

Cubist Systematic Strategies LLC lowered its stake in shares of Philip Morris International Inc. (NYSE:PM) by 43.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,084 shares of the company’s stock after selling 21,940 shares during the period. Cubist Systematic Strategies LLC’s holdings in Philip Morris International were worth $2,268,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Alerus Financial NA boosted its holdings in Philip Morris International by 11.3% in the 2nd quarter. Alerus Financial NA now owns 87,413 shares of the company’s stock valued at $7,058,000 after purchasing an additional 8,897 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Philip Morris International by 11.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 201,092 shares of the company’s stock valued at $16,235,000 after purchasing an additional 20,196 shares during the period. IMA Wealth Inc. bought a new position in Philip Morris International in the 2nd quarter valued at $149,000. Sumitomo Life Insurance Co. boosted its holdings in Philip Morris International by 6.7% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 68,443 shares of the company’s stock valued at $5,526,000 after purchasing an additional 4,321 shares during the period. Finally, Captrust Financial Advisors boosted its holdings in Philip Morris International by 62.0% in the 2nd quarter. Captrust Financial Advisors now owns 18,735 shares of the company’s stock valued at $1,534,000 after purchasing an additional 7,168 shares during the period. Institutional investors and hedge funds own 72.73% of the company’s stock.

A number of analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Philip Morris International from a “hold” rating to a “sell” rating in a report on Monday, September 24th. Citigroup lifted their price objective on shares of Philip Morris International from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, September 21st. ValuEngine raised shares of Philip Morris International from a “strong sell” rating to a “sell” rating in a report on Friday, September 21st. Jefferies Financial Group downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating and set a $80.00 price objective for the company. in a report on Friday, August 24th. Finally, Argus raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a report on Wednesday, July 25th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $100.70.

Philip Morris International stock traded up $0.28 during mid-day trading on Friday, hitting $84.10. The company’s stock had a trading volume of 5,430,375 shares, compared to its average volume of 6,042,867. The company has a quick ratio of 0.64, a current ratio of 1.15 and a debt-to-equity ratio of -2.76. The company has a market capitalization of $126.75 billion, a PE ratio of 17.06, a P/E/G ratio of 1.81 and a beta of 0.79. Philip Morris International Inc. has a 12 month low of $76.21 and a 12 month high of $115.28.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, July 19th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.18. Philip Morris International had a net margin of 7.84% and a negative return on equity of 76.67%. The business had revenue of $7.73 billion during the quarter, compared to the consensus estimate of $7.53 billion. During the same period in the previous year, the firm posted $1.14 earnings per share. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities analysts expect that Philip Morris International Inc. will post 5.01 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 12th. Shareholders of record on Wednesday, September 26th will be given a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.42%. The ex-dividend date is Tuesday, September 25th. Philip Morris International’s payout ratio is 92.49%.

Philip Morris International 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.

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

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