Empower Advisory Group LLC acquired a new stake in Philip Morris International Inc. (NYSE:PM – Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,382 shares of the company’s stock, valued at approximately $429,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Optiver Holding B.V. acquired a new position in Philip Morris International during the 4th quarter worth $29,000. Stone House Investment Management LLC acquired a new position in shares of Philip Morris International during the 1st quarter worth about $29,000. BOK Financial Private Wealth Inc. acquired a new position in shares of Philip Morris International during the 1st quarter worth about $32,000. Barrett & Company Inc. acquired a new position in shares of Philip Morris International during the 1st quarter worth about $32,000. Finally, FSC Wealth Advisors LLC boosted its position in shares of Philip Morris International by 75.0% during the 1st quarter. FSC Wealth Advisors LLC now owns 350 shares of the company’s stock worth $34,000 after acquiring an additional 150 shares in 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 several analyst reports. StockNews.com initiated coverage on Philip Morris International in a research report on Thursday, August 17th. They set a “hold” rating for the company. 22nd Century Group reissued a “reiterates” rating on shares of Philip Morris International in a report on Tuesday, June 27th. Citigroup raised Philip Morris International from a “neutral” rating to a “buy” rating and boosted their target price for the company from $109.00 to $117.00 in a report on Tuesday, June 20th. Finally, Jefferies Financial Group reduced their target price on Philip Morris International from $113.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, August 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $110.70.
Philip Morris International Stock Down 0.5 %
PM opened at $95.79 on Friday. The business has a 50 day moving average price of $96.49 and a two-hundred day moving average price of $96.06. The company has a market cap of $148.70 billion, a PE ratio of 18.53, a P/E/G ratio of 2.02 and a beta of 0.71. Philip Morris International Inc. has a 52 week low of $82.85 and a 52 week high of $105.62.
Philip Morris International (NYSE:PM – Get Free Report) last posted its quarterly earnings data on Thursday, July 20th. The company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.50 by $0.10. The firm had revenue of $8.97 billion during the quarter, compared to the consensus estimate of $8.76 billion. Philip Morris International had a negative return on equity of 127.84% and a net margin of 11.63%. The firm’s revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.48 EPS. As a group, sell-side analysts expect that Philip Morris International Inc. will post 6.19 EPS for the current fiscal year.
Philip Morris International Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Wednesday, September 27th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.43%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.27. The ex-dividend date is Tuesday, September 26th. Philip Morris International’s dividend payout ratio is 98.26%.
About Philip Morris International
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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