Bleakley Financial Group LLC trimmed its position in Philip Morris International Inc. (NYSE:PM – Free Report) by 9.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 106,944 shares of the company’s stock after selling 10,929 shares during the quarter. Bleakley Financial Group LLC’s holdings in Philip Morris International were worth $17,346,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in PM. Legacy Investment Solutions LLC bought a new stake in shares of Philip Morris International during the second quarter worth approximately $25,000. Traub Capital Management LLC acquired a new stake in Philip Morris International during the 2nd quarter worth $25,000. Marquette Asset Management LLC raised its position in shares of Philip Morris International by 1,677.8% during the 3rd quarter. Marquette Asset Management LLC now owns 160 shares of the company’s stock valued at $26,000 after acquiring an additional 151 shares during the last quarter. Estabrook Capital Management acquired a new position in shares of Philip Morris International in the 2nd quarter valued at $30,000. Finally, Anfield Capital Management LLC boosted its position in shares of Philip Morris International by 185.5% in the 2nd quarter. Anfield Capital Management LLC now owns 197 shares of the company’s stock worth $36,000 after purchasing an additional 128 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.
Philip Morris International Stock Performance
NYSE PM opened at $183.35 on Friday. The stock has a market cap of $285.41 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 2.09 and a beta of 0.39. The business has a 50 day simple moving average of $170.72 and a 200 day simple moving average of $163.09. Philip Morris International Inc. has a 52-week low of $142.11 and a 52-week high of $190.98.
Philip Morris International Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th were issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Friday, December 26th. Philip Morris International’s dividend payout ratio is 80.88%.
Analyst Upgrades and Downgrades
PM has been the subject of a number of recent analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $205.00 price objective on shares of Philip Morris International in a report on Monday, February 9th. UBS Group reaffirmed a “neutral” rating and issued a $181.50 price target on shares of Philip Morris International in a research note on Monday, February 9th. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a report on Thursday, January 22nd. Barclays lowered their target price on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday, November 17th. Finally, Stifel Nicolaus set a $200.00 price target on shares of Philip Morris International in a research report on Monday, February 9th. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and a consensus target price of $194.06.
Read Our Latest Analysis on Philip Morris International
Philip Morris International Company Profile
Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.
PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.
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