JSF Financial LLC bought a new stake in Philip Morris International Inc. (NYSE:PM – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,344 shares of the company’s stock, valued at approximately $245,000.
Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Philip Morris International by 0.9% during the first quarter. Vanguard Group Inc. now owns 140,621,675 shares of the company’s stock worth $22,320,878,000 after purchasing an additional 1,189,283 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Philip Morris International by 26.4% during the 1st quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock worth $3,466,730,000 after buying an additional 4,563,632 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Philip Morris International during the 1st quarter worth about $1,712,994,000. Goldman Sachs Group Inc. raised its position in shares of Philip Morris International by 57.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock worth $1,554,686,000 after acquiring an additional 3,575,158 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Philip Morris International by 22.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,018,628 shares of the company’s stock worth $1,431,527,000 after acquiring an additional 1,635,636 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.
Philip Morris International Price Performance
PM stock opened at $153.09 on Friday. The company has a market cap of $238.30 billion, a price-to-earnings ratio of 29.10, a price-to-earnings-growth ratio of 2.22 and a beta of 0.46. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69. The company has a fifty day moving average price of $164.82 and a 200 day moving average price of $168.64.
Philip Morris International Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s payout ratio is 102.66%.
Analyst Ratings Changes
Several brokerages have commented on PM. UBS Group dropped their price target on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a research note on Friday, September 5th. JPMorgan Chase & Co. upped their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Wall Street Zen cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. KGI Securities assumed coverage on shares of Philip Morris International in a research report on Monday, August 4th. They issued an “outperform” rating for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $195.00 target price on shares of Philip Morris International in a research report on Wednesday, July 23rd. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $195.44.
Read Our Latest Report on Philip Morris International
Philip Morris International Profile
Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.
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