Alchemi Wealth LLC purchased a new stake in shares of Philip Morris International Inc. (NYSE:PM – Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,523 shares of the company’s stock, valued at approximately $1,046,000.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Schroder Investment Management Group lifted its holdings in shares of Philip Morris International by 10.2% in the third quarter. Schroder Investment Management Group now owns 302,173 shares of the company’s stock valued at $49,251,000 after purchasing an additional 27,979 shares in the last quarter. Trajan Wealth LLC raised its holdings in Philip Morris International by 31.2% during the third quarter. Trajan Wealth LLC now owns 132,295 shares of the company’s stock valued at $21,458,000 after buying an additional 31,490 shares in the last quarter. Assetmark Inc. raised its holdings in Philip Morris International by 22.2% during the fourth quarter. Assetmark Inc. now owns 630,583 shares of the company’s stock valued at $101,146,000 after buying an additional 114,618 shares in the last quarter. Global Retirement Partners LLC raised its holdings in Philip Morris International by 40.3% during the fourth quarter. Global Retirement Partners LLC now owns 67,177 shares of the company’s stock valued at $10,775,000 after buying an additional 19,309 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Philip Morris International by 7.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 592,681 shares of the company’s stock valued at $91,840,000 after buying an additional 43,200 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.
Philip Morris International Stock Performance
Shares of PM stock opened at $184.41 on Friday. The firm’s 50-day moving average is $172.61 and its 200-day moving average is $169.80. The stock has a market cap of $287.41 billion, a price-to-earnings ratio of 25.94, a PEG ratio of 2.09 and a beta of 0.38. Philip Morris International Inc. has a 52-week low of $142.11 and a 52-week high of $193.05.
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 paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Thursday, June 25th. Philip Morris International’s dividend payout ratio (DPR) is 82.70%.
Analysts Set New Price Targets
Several brokerages have recently issued reports on PM. Morgan Stanley raised their price target 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, May 20th. Bank of America reissued a “buy” rating on shares of Philip Morris International in a research report on Thursday, May 21st. UBS Group cut their price target on shares of Philip Morris International from $181.50 to $168.00 and set a “neutral” rating for the company in a research note on Friday, April 17th. Finally, Stifel Nicolaus cut their price target on shares of Philip Morris International from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and an average target price of $192.88.
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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