Moors & Cabot Inc. raised its holdings in Philip Morris International Inc. (NYSE:PM – Free Report) by 0.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,753 shares of the company’s stock after purchasing an additional 163 shares during the period. Moors & Cabot Inc.’s holdings in Philip Morris International were worth $1,928,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. LCM Capital Management Inc grew its holdings in Philip Morris International by 4.5% during the 1st quarter. LCM Capital Management Inc now owns 2,428 shares of the company’s stock valued at $236,000 after buying an additional 105 shares during the last quarter. Studio Investment Management LLC lifted its position in shares of Philip Morris International by 33.8% in the fourth quarter. Studio Investment Management LLC now owns 428 shares of the company’s stock valued at $43,000 after acquiring an additional 108 shares in the last quarter. ERTS Wealth Advisors LLC increased its position in Philip Morris International by 3.8% during the 2nd quarter. ERTS Wealth Advisors LLC now owns 3,045 shares of the company’s stock worth $297,000 after purchasing an additional 111 shares in the last quarter. Balboa Wealth Partners raised its stake in Philip Morris International by 4.3% in the 1st quarter. Balboa Wealth Partners now owns 2,712 shares of the company’s stock valued at $264,000 after purchasing an additional 113 shares during the last quarter. Finally, Berger Financial Group Inc raised its stake in Philip Morris International by 3.0% in the 2nd quarter. Berger Financial Group Inc now owns 3,902 shares of the company’s stock valued at $381,000 after purchasing an additional 113 shares during the last quarter. 79.70% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
PM has been the subject of a number of recent research reports. UBS Group lowered their price target on shares of Philip Morris International from $116.00 to $112.00 and set a “buy” rating for the company in a report on Thursday, October 5th. Jefferies Financial Group cut their price target on Philip Morris International from $111.00 to $105.00 and set a “buy” rating for the company in a report on Friday, October 13th. Redburn Atlantic assumed coverage on Philip Morris International in a report on Thursday. They set a “neutral” rating and a $95.00 price objective on the stock. Bank of America dropped their target price on Philip Morris International from $118.00 to $111.00 in a research note on Friday, September 29th. Finally, Barclays dropped their price objective on shares of Philip Morris International from $115.00 to $110.00 and set an “overweight” rating for the company in a research note on Thursday, September 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $109.36.
Philip Morris International Trading Down 0.2 %
PM traded down $0.17 during trading on Thursday, hitting $91.56. 410,205 shares of the company’s stock were exchanged, compared to its average volume of 4,264,941. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $105.62. The stock has a 50 day moving average price of $92.28 and a 200 day moving average price of $94.37. The firm has a market cap of $142.14 billion, a P/E ratio of 17.81, a price-to-earnings-growth ratio of 2.13 and a beta of 0.77.
Philip Morris International (NYSE:PM – Get Free Report) last released its quarterly earnings data on Thursday, October 19th. The company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.62 by $0.05. The company had revenue of $9.14 billion for 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 firm’s revenue was up 13.8% compared to the same quarter last year. During the same period last year, the company posted $1.53 earnings per share. Analysts forecast that Philip Morris International Inc. will post 6.18 earnings per share for the current fiscal year.
Philip Morris International Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Stockholders of record on Wednesday, September 27th were given a dividend of $1.30 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.27. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date of this dividend was Tuesday, September 26th. Philip Morris International’s payout ratio is presently 100.97%.
Philip Morris International 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.
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