Independent Financial Group LLC acquired a new position in shares of Philip Morris International Inc. (NYSE:PM – Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,993 shares of the company’s stock, valued at approximately $2,314,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock worth $1,027,000 after buying an additional 2,023 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Philip Morris International by 4.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock valued at $252,000 after acquiring an additional 91 shares during the last quarter. Sivia Capital Partners LLC raised its stake in shares of 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 acquired a new position in shares of Philip Morris International in the 2nd quarter worth approximately $2,454,000. Finally, Osterweis Capital Management Inc. boosted its holdings in shares of Philip Morris International by 2,280.0% in the 2nd quarter. Osterweis Capital Management Inc. now owns 357 shares of the company’s stock worth $65,000 after acquiring an additional 342 shares in the last quarter. 78.63% of the stock is owned by institutional investors.
Philip Morris International Price Performance
Shares of Philip Morris International stock opened at $192.72 on Friday. The firm has a 50 day simple moving average of $182.37 and a 200 day simple moving average of $174.38. Philip Morris International Inc. has a fifty-two week low of $142.11 and a fifty-two week high of $194.62. The firm has a market cap of $300.37 billion, a P/E ratio of 27.11, a P/E/G ratio of 2.28 and a beta of 0.38.
Philip Morris International Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Thursday, June 25th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Thursday, June 25th. Philip Morris International’s dividend payout ratio is 82.70%.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the company. UBS Group raised their price target on Philip Morris International from $168.00 to $182.00 and gave the company a “neutral” rating in a report on Thursday, July 2nd. Morgan Stanley boosted their price objective on Philip Morris International from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, May 20th. Needham & Company LLC restated a “buy” rating and issued a $200.00 target price on shares of Philip Morris International in a research note on Thursday, April 23rd. Finally, Stifel Nicolaus cut their price target on Philip Morris International from $200.00 to $195.00 and set a “buy” rating for the company in a report on Friday, April 10th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $194.62.
Read Our Latest Research Report on PM
About Philip Morris International
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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