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Philip Morris International Profit Advances 4% In Q1

21 April 2017

Baillie Gifford & Co.'s holdings in Philip Morris International were worth $9,752,000 as of its most recent SEC filing. YHB Investment Advisors Inc. increased its position in shares of Philip Morris International by 0.4% in the third quarter. Oakbrook Investments LLC now owns 130,906 shares of the company's stock valued at $12,727,000 after buying an additional 33,675 shares during the period. (NYSE:PM) is set to report quarterly earnings on 4/20/2017 8:30:00 AM. Cornerstone Advisors Inc. now owns 1,155 shares of the company's stock valued at $112,000 after buying an additional 13 shares during the last quarter. Finally, Verus Financial Partners Inc. increased its stake in Philip Morris International by 0.6% in the third quarter. Gulf International Bank UK Ltd increased its stake in Philip Morris International by 0.8% in the third quarter. Looking back over the last month, shares have performed 2.89%. Following the completion of the sale, the chief executive officer now directly owns 787,671 shares in the company, valued at $80,854,428.15. Philip Morris International Inc. (NYSE:PM) shares have seen a move of 27.09%. The stock's 52-week range is $86.78 to $115.63. The firm has a market capitalization of $169.97 billion, a P/E ratio of 24.46 and a beta of 0.94. Philip Morris International also was the target of unusually large options trading activity on Thursday.

A gap is a space between prices that occurs when the price of a stock makes a move down or up when there is no trading happening in between. This is an increase of approximately 487% compared to the typical daily volume of 179 put options. The stock has reflected hopes that an end to the US dollar's advance might finally let earnings grow more dependably, and coming into Thursday's first-quarter financial report, Philip Morris investors wanted further signs of solid performance on the top and bottom lines. The company reported net income of $1.59 billion, or $1.02 per share, up from $1.53 billion, or 98 cents per share, in the year-earlier period. The company earned $6.06 billion during the quarter, compared to analyst estimates of $6.47 billion. "We are fully on track to deliver our full-year EPS guidance, driven by robust pricing and accelerating IQOS volume growth". The firm's revenue for the quarter was down.3% on a year-over-year basis.

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Shares of Philip Morris International have dropped 3.1% to $110.33 at 10:14 a.m. today, while Altria Group (MO) has fallen 0.8% to $71.52.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 11th. Stockholders of record on Thursday, March 23rd were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 3.68%. The ex-dividend date was Tuesday, March 21st. Despite promising signs about the company's long-term future, few shareholders were happy with Philip Morris' current situation.

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TRADEMARK VIOLATION NOTICE: "Baillie Gifford & Co". Philip Morris suffered an 11.5% decline in cigarette shipments to 173.6 billion units. "(PM) Shares Gap Down After Earnings Miss" was first posted by Markets Daily and is owned by of Markets Daily. If you are accessing this piece of content on another domain, it was illegally stolen and reposted in violation of US and worldwide copyright laws.

Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Philip Morris International Inc.

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Several brokerages recently weighed in on PM. Finally, Jefferies Group LLC restated a "hold" rating and set a $104.00 price objective on shares of Philip Morris International in a research note on Friday, February 17th. Vetr cut shares of Philip Morris International from a "strong-buy" rating to a "buy" rating and set a $101.10 price target for the a research report on Wednesday, January 18th. Philip Morris International presently has an average rating of "Buy" and an average price target of $111.57. However, the brokerage maintained its Hold rating on the stock. The company now has an average rating of "Buy" and an average price target of $110.17.