Infrastructure Capital Advisors LLC lowered its stake in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 34.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 15,352 shares of the company’s stock after selling 8,080 shares during the period. Infrastructure Capital Advisors LLC’s holdings in Philip Morris International were worth $2,462,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of PM. Portfolio Resources Advisor Group Inc. acquired a new stake in shares of Philip Morris International during the 4th quarter valued at about $26,000. Dogwood Wealth Management LLC grew its position in shares of Philip Morris International by 96.5% during the 3rd quarter. Dogwood Wealth Management LLC now owns 167 shares of the company’s stock valued at $27,000 after acquiring an additional 82 shares during the period. Richards Merrill & Peterson Inc. acquired a new stake in shares of Philip Morris International during the 4th quarter valued at about $28,000. Entrust Financial LLC acquired a new stake in shares of Philip Morris International during the 4th quarter valued at about $31,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in shares of Philip Morris International during the 3rd quarter valued at about $32,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.
Philip Morris International Trading Down 2.5%
PM stock opened at $179.43 on Thursday. Philip Morris International Inc. has a 12-month low of $142.11 and a 12-month high of $193.05. The stock has a market cap of $279.64 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 2.13 and a beta of 0.38. The business’s 50-day moving average is $174.01 and its 200 day moving average is $170.46.
Philip Morris International Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Thursday, June 25th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.3%. The ex-dividend date is Thursday, June 25th. Philip Morris International’s payout ratio is presently 82.70%.
Wall Street Analyst Weigh In
A number of research firms have recently commented on PM. Barclays restated an “overweight” rating and set a $205.00 target price on shares of Philip Morris International in a research report on Monday, February 23rd. Stifel Nicolaus dropped their target price on Philip Morris International from $200.00 to $195.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. Needham & Company LLC restated a “buy” rating and set a $200.00 target price on shares of Philip Morris International in a research report on Thursday, April 23rd. Bank of America restated a “buy” rating on shares of Philip Morris International in a research report on Thursday, May 21st. Finally, Morgan Stanley raised their target price on Philip Morris International from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $192.88.
View Our Latest Stock Report on Philip Morris International
Philip Morris International 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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