Toronto Dominion Bank Has $77.68 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)
Toronto Dominion Bank increased its stake in Philip Morris International Inc. (NYSE:PM) by 0.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,651,285 shares of the company’s stock after buying an additional 5,956 shares during the quarter. Toronto Dominion Bank owned approximately 0.11% of Philip Morris International worth $77,675,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in PM. First Foundation Advisors grew its holdings in Philip Morris International by 29.2% during the first quarter. First Foundation Advisors now owns 335,949 shares of the company’s stock worth $24,511,000 after purchasing an additional 75,841 shares during the period. Courier Capital LLC increased its holdings in shares of Philip Morris International by 39.6% during the 2nd quarter. Courier Capital LLC now owns 3,877 shares of the company’s stock worth $273,000 after acquiring an additional 1,100 shares during the last quarter. Colony Group LLC raised its stake in Philip Morris International by 6.5% in the 1st quarter. Colony Group LLC now owns 83,601 shares of the company’s stock valued at $6,100,000 after acquiring an additional 5,133 shares during the period. First Interstate Bank raised its stake in Philip Morris International by 111.3% in the 2nd quarter. First Interstate Bank now owns 7,504 shares of the company’s stock valued at $526,000 after acquiring an additional 3,953 shares during the period. Finally, New Mexico Educational Retirement Board boosted its position in Philip Morris International by 6.9% during the second quarter. New Mexico Educational Retirement Board now owns 104,711 shares of the company’s stock worth $7,336,000 after purchasing an additional 6,800 shares during the period. 73.98% of the stock is owned by institutional investors and hedge funds.
Several analysts recently commented on the stock. Stifel Nicolaus lifted their target price on shares of Philip Morris International from $85.00 to $90.00 in a report on Wednesday, July 22nd. ValuEngine cut Philip Morris International from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Citigroup reissued a “hold” rating and set a $75.00 price target on shares of Philip Morris International in a report on Tuesday, June 30th. Bank of America increased their price objective on Philip Morris International from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Friday, September 11th. Finally, Piper Sandler restated a “buy” rating and issued a $98.00 price target on shares of Philip Morris International in a research note on Tuesday, August 4th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $89.75.
PM traded up $0.27 during trading on Wednesday, hitting $81.67. 166,668 shares of the stock traded hands, compared to its average volume of 5,505,049. The business has a 50 day moving average price of $78.85 and a 200 day moving average price of $74.96. Philip Morris International Inc. has a twelve month low of $56.01 and a twelve month high of $90.17. The company has a market cap of $126.76 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 2.29 and a beta of 0.76.
Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $1.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.19. The company had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.54 billion. Philip Morris International had a negative return on equity of 80.24% and a net margin of 9.54%. The company’s revenue for the quarter was down 13.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.46 EPS. On average, analysts forecast that Philip Morris International Inc. will post 5.06 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Thursday, September 24th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 5.88%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.17. Philip Morris International’s dividend payout ratio is 90.17%.
About Philip Morris International
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and 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 Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.
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