Successful Portfolios LLC increased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 15.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,639 shares of the company’s stock after purchasing an additional 497 shares during the period. Successful Portfolios LLC’s holdings in Philip Morris International were worth $276,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Titan Capital Management LLC CA purchased a new stake in Philip Morris International during the second quarter valued at approximately $30,000. River & Mercantile Asset Management LLP purchased a new stake in Philip Morris International during the second quarter valued at approximately $32,000. Manchester Financial Inc. purchased a new stake in Philip Morris International during the second quarter valued at approximately $36,000. Brand Asset Management Group Inc. increased its holdings in Philip Morris International by 34.9% during the second quarter. Brand Asset Management Group Inc. now owns 472 shares of the company’s stock valued at $37,000 after buying an additional 122 shares during the last quarter. Finally, Prestige Wealth Management Group LLC purchased a new stake in Philip Morris International during the second quarter valued at approximately $38,000. 74.11% of the stock is owned by hedge funds and other institutional investors.
Shares of PM traded up $0.20 during mid-day trading on Friday, reaching $77.95. The stock had a trading volume of 6,288,950 shares, compared to its average volume of 8,054,017. The firm has a market cap of $118.82 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.87 and a beta of 1.00. Philip Morris International Inc. has a 12 month low of $64.67 and a 12 month high of $92.74. The business has a fifty day moving average of $74.99 and a 200 day moving average of $81.14.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 25th will be given a dividend of $1.17 per share. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.14. The ex-dividend date is Tuesday, September 24th. This represents a $4.68 dividend on an annualized basis and a dividend yield of 6.00%. Philip Morris International’s dividend payout ratio is currently 91.76%.
In related news, insider Mario Masseroli sold 1,100 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $87.42, for a total transaction of $96,162.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is currently owned by corporate insiders.
A number of brokerages have commented on PM. Wells Fargo & Co set a $102.00 target price on shares of Philip Morris International and gave the company a “buy” rating in a report on Monday, August 26th. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a report on Wednesday, September 4th. JPMorgan Chase & Co. set a $86.00 price target on shares of Philip Morris International and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. Bank of America upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and set a $96.00 price target for the company in a research report on Tuesday, October 1st. Finally, ValuEngine lowered shares of Philip Morris International from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. Philip Morris International presently has a consensus rating of “Hold” and a consensus target price of $93.92.
Philip Morris International Company Profile
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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