Gladstone Capital Management LLP grew its position in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 12.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 814,173 shares of the company’s stock after buying an additional 87,014 shares during the quarter. Philip Morris International makes up approximately 14.5% of Gladstone Capital Management LLP’s portfolio, making the stock its 3rd largest holding. Gladstone Capital Management LLP’s holdings in Philip Morris International were worth $132,059,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in PM. Traub Capital Management LLC acquired a new stake in shares of Philip Morris International in the second quarter valued at about $25,000. Marquette Asset Management LLC grew its holdings in 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 buying an additional 151 shares during the last quarter. Dogwood Wealth Management LLC boosted its stake in shares of Philip Morris International by 96.5% during the third 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 last quarter. Estabrook Capital Management purchased a new stake in shares of Philip Morris International during the second quarter worth about $30,000. Finally, Anfield Capital Management LLC grew its stake in 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 acquiring an additional 128 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.
Philip Morris International Price Performance
Shares of Philip Morris International stock opened at $174.52 on Friday. Philip Morris International Inc. has a 1-year low of $142.11 and a 1-year high of $191.30. The company has a market capitalization of $271.67 billion, a P/E ratio of 24.00, a PEG ratio of 1.96 and a beta of 0.38. The business’s fifty day moving average price is $176.24 and its two-hundred day moving average price is $164.14.
Philip Morris International Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Thursday, March 19th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Thursday, March 19th. Philip Morris International’s dividend payout ratio is presently 80.88%.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a research report on Thursday, January 22nd. Stifel Nicolaus set a $200.00 target price on Philip Morris International in a research report on Monday, February 9th. Wall Street Zen lowered Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Barclays restated an “overweight” rating and set a $205.00 target price on shares of Philip Morris International in a research note on Monday, February 23rd. Finally, UBS Group restated a “neutral” rating and issued a $181.50 price target on shares of Philip Morris International in a research note on Monday, February 9th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average target price of $196.83.
Read Our Latest Stock Analysis on Philip Morris International
Insider Activity at Philip Morris International
In related news, CFO Emmanuel Babeau sold 33,800 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $181.61, for a total transaction of $6,138,418.00. Following the completion of the sale, the chief financial officer directly owned 164,463 shares of the company’s stock, valued at $29,868,125.43. This represents a 17.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jacek Olczak sold 80,000 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $182.18, for a total value of $14,574,400.00. Following the sale, the chief executive officer directly owned 632,344 shares of the company’s stock, valued at approximately $115,200,429.92. This represents a 11.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.13% of the stock is owned by corporate insiders.
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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