M&R Capital Management Inc. grew its stake in Philip Morris International Inc. (NYSE:PM) by 112.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,901 shares of the company’s stock after purchasing an additional 5,240 shares during the period. M&R Capital Management Inc.’s holdings in Philip Morris International were worth $777,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. CX Institutional increased its holdings in shares of Philip Morris International by 432.1% in the first quarter. CX Institutional now owns 447 shares of the company’s stock valued at $40,000 after purchasing an additional 363 shares during the period. Manchester Financial Inc. acquired a new position in Philip Morris International during the second quarter worth $36,000. Shamrock Asset Management LLC grew its holdings in Philip Morris International by 53.9% during the first quarter. Shamrock Asset Management LLC now owns 571 shares of the company’s stock worth $50,000 after acquiring an additional 200 shares during the period. HMS Capital Management LLC acquired a new position in Philip Morris International during the second quarter worth $46,000. Finally, Clarfeld Financial Advisors LLC acquired a new position in Philip Morris International during the fourth quarter worth $40,000. 73.48% of the stock is currently owned by institutional investors and hedge funds.
Philip Morris International stock traded up $1.72 during trading hours on Friday, hitting $84.17. The stock had a trading volume of 6,109,071 shares, compared to its average volume of 4,926,347. The company has a market cap of $128.28 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 2.02 and a beta of 0.95. Philip Morris International Inc. has a 1-year low of $64.67 and a 1-year high of $92.74. The firm has a fifty day simple moving average of $81.44.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 21st were issued a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 5.42%. The ex-dividend date of this dividend was Thursday, June 20th. Philip Morris International’s dividend payout ratio (DPR) is 89.41%.
A number of research analysts recently weighed in on PM shares. Barclays raised Philip Morris International from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $82.00 to $100.00 in a report on Friday, July 19th. ValuEngine lowered Philip Morris International from a “hold” rating to a “sell” rating in a report on Thursday. Wells Fargo & Co set a $102.00 price objective on Philip Morris International and gave the stock a “buy” rating in a report on Friday, July 19th. Societe Generale raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. Finally, Zacks Investment Research raised Philip Morris International from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. Philip Morris International presently has an average rating of “Hold” and an average target price of $93.92.
In other news, VP Michael R. Kunst bought 500 shares of the stock in a transaction on Wednesday, May 29th. The shares were bought at an average price of $80.74 per share, with a total value of $40,370.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $96,162.00. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.
Philip Morris International 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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