Wallace Capital Management Inc. bought a new stake in Philip Morris International Inc. (NYSE:PM – Free Report) during the second quarter, Holdings Channel.com reports. The fund bought 5,639 shares of the company’s stock, valued at approximately $1,020,000.
Several other hedge funds have also bought and sold shares of PM. Brighton Jones LLC raised its position in shares of Philip Morris International by 31.1% during the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock valued at $1,027,000 after buying an additional 2,023 shares in the last quarter. Revolve Wealth Partners LLC grew its position in Philip Morris International by 4.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock worth $252,000 after acquiring an additional 91 shares in the last quarter. Sivia Capital Partners LLC increased its stake in Philip Morris International by 53.7% in the second quarter. Sivia Capital Partners LLC now owns 5,636 shares of the company’s stock valued at $1,027,000 after acquiring an additional 1,970 shares during the last quarter. Jump Financial LLC bought a new position in Philip Morris International in the second quarter valued at $2,454,000. Finally, Osterweis Capital Management Inc. raised its position in Philip Morris International by 2,280.0% during the second quarter. Osterweis Capital Management Inc. now owns 357 shares of the company’s stock valued at $65,000 after purchasing an additional 342 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.
Philip Morris International Price Performance
Shares of PM stock opened at $193.94 on Thursday. The stock has a market capitalization of $302.28 billion, a PE ratio of 27.86, a P/E/G ratio of 2.34 and a beta of 0.38. Philip Morris International Inc. has a 1-year low of $142.11 and a 1-year high of $207.76. The business has a 50-day moving average of $186.71 and a 200 day moving average of $178.64.
Philip Morris International Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Thursday, June 25th were issued a $1.47 dividend. The ex-dividend date was Thursday, June 25th. This represents a $5.88 annualized dividend and a dividend yield of 3.0%. Philip Morris International’s dividend payout ratio (DPR) is currently 84.48%.
Analyst Ratings Changes
PM has been the subject of several research analyst reports. Morgan Stanley lifted their price target on Philip Morris International from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a report on Monday, August 17th. UBS Group upped their price objective on shares of Philip Morris International from $168.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, July 2nd. Bank of America reaffirmed a “buy” rating on shares of Philip Morris International in a report on Thursday, May 21st. Finally, Citigroup lifted their target price on shares of Philip Morris International from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.89.
View Our Latest Stock Report 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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