Cambria Investment Management L.P. Has $718,000 Position in Philip Morris International Inc. (NYSE:PM)

Cambria Investment Management L.P. lowered its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 8.0% during the second quarter, Holdings Channel reports. The institutional investor owned 7,350 shares of the company’s stock after selling 642 shares during the quarter. Cambria Investment Management L.P.’s holdings in Philip Morris International were worth $718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Financial Gravity Asset Management Inc. acquired a new stake in shares of Philip Morris International in the 2nd quarter valued at $753,000. Barrett & Company Inc. acquired a new stake in shares of Philip Morris International in the 1st quarter valued at $32,000. NewSquare Capital LLC boosted its stake in shares of Philip Morris International by 127.0% in the 1st quarter. NewSquare Capital LLC now owns 370 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares in the last quarter. Blume Capital Management Inc. bought a new position in shares of Philip Morris International in the first quarter valued at about $36,000. Finally, Spotlight Asset Group Inc. bought a new position in shares of Philip Morris International in the second quarter valued at about $37,000. Institutional investors and hedge funds own 79.70% of the company’s stock.

Philip Morris International Trading Up 1.5 %

Philip Morris International stock opened at $91.73 on Thursday. The firm has a market capitalization of $142.40 billion, a P/E ratio of 17.81, a PEG ratio of 2.13 and a beta of 0.77. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $105.62. The business has a 50-day moving average of $92.28 and a 200-day moving average of $94.37.

Philip Morris International (NYSE:PM) last posted its earnings results on Thursday, October 19th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.05. The company had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.21 billion. Philip Morris International had a negative return on equity of 129.48% and a net margin of 9.62%. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.53 EPS. Research analysts anticipate that Philip Morris International Inc. will post 6.18 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 12th. Investors of record on Wednesday, September 27th were given a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.27. This represents a $5.20 annualized dividend and a dividend yield of 5.67%. Philip Morris International’s payout ratio is currently 100.97%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PM. Redburn Atlantic began coverage on Philip Morris International in a report on Thursday. They issued a “neutral” rating and a $95.00 price target for the company. StockNews.com began coverage on Philip Morris International in a report on Thursday, October 5th. They issued a “hold” rating for the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $114.00 price target on shares of Philip Morris International in a report on Monday, October 2nd. Barclays cut their price target on Philip Morris International from $115.00 to $110.00 and set an “overweight” rating for the company in a report on Thursday, September 21st. Finally, UBS Group cut their price target on Philip Morris International from $116.00 to $112.00 and set a “buy” rating for the company in a report on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Philip Morris International presently has a consensus rating of “Moderate Buy” and an average price target of $109.36.

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.