Opal Capital LLC bought a new position in shares of Philip Morris International Inc. (NYSE:PM – Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 87,477 shares of the company’s stock, valued at approximately $14,077,000. Philip Morris International comprises 3.5% of Opal Capital LLC’s portfolio, making the stock its biggest position.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. L2 Asset Management LLC boosted its position in shares of Philip Morris International by 7.8% during the fourth quarter. L2 Asset Management LLC now owns 3,913 shares of the company’s stock worth $628,000 after acquiring an additional 283 shares during the last quarter. Cynosure Group LLC bought a new position in shares of Philip Morris International during the fourth quarter worth $464,000. 71 West Capital Partners bought a new position in shares of Philip Morris International during the fourth quarter worth $820,000. Capital Financial Group Inc. Co. ADV bought a new position in shares of Philip Morris International during the fourth quarter worth $1,133,000. Finally, LFG Wealth Partners LLC bought a new position in shares of Philip Morris International during the fourth quarter worth $2,949,000. Institutional investors own 78.63% of the company’s stock.
Philip Morris International Trading Up 1.4%
Shares of PM opened at $184.32 on Wednesday. Philip Morris International Inc. has a twelve month low of $142.11 and a twelve month high of $193.05. The company has a market cap of $287.27 billion, a P/E ratio of 25.92, a P/E/G ratio of 2.10 and a beta of 0.38. The company’s fifty day simple moving average is $173.62 and its 200-day simple moving average is $170.30.
Philip Morris International Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Thursday, June 25th will be issued a $1.47 dividend. The ex-dividend date is Thursday, June 25th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.2%. Philip Morris International’s dividend payout ratio is presently 82.70%.
Wall Street Analyst Weigh In
PM has been the subject of a number of research reports. UBS Group dropped their target price on shares of Philip Morris International from $181.50 to $168.00 and set a “neutral” rating for the company in a research report on Friday, April 17th. Bank of America reaffirmed a “buy” rating on shares of Philip Morris International in a research note on Thursday, May 21st. Barclays reaffirmed an “overweight” rating and set a $205.00 price target on shares of Philip Morris International in a research note on Monday, February 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $200.00 price target on shares of Philip Morris International in a research note on Thursday, April 23rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, May 20th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and a consensus price target of $192.88.
View Our Latest Research Report on PM
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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