McAdam LLC increased its stake in Philip Morris International Inc. (NYSE:PM – Free Report) by 40.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,743 shares of the company’s stock after purchasing an additional 1,361 shares during the quarter. McAdam LLC’s holdings in Philip Morris International were worth $753,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the stock. Perigon Wealth Management LLC lifted its holdings in Philip Morris International by 0.4% in the first quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company’s stock worth $2,236,000 after purchasing an additional 60 shares during the period. TBH Global Asset Management LLC lifted its holdings in Philip Morris International by 0.9% in the first quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company’s stock worth $1,100,000 after purchasing an additional 61 shares during the period. NFP Retirement Inc. lifted its holdings in Philip Morris International by 2.5% in the first quarter. NFP Retirement Inc. now owns 2,589 shares of the company’s stock worth $411,000 after purchasing an additional 62 shares during the period. Capital Advisors Wealth Management LLC lifted its holdings in Philip Morris International by 2.1% in the first quarter. Capital Advisors Wealth Management LLC now owns 3,005 shares of the company’s stock worth $477,000 after purchasing an additional 63 shares during the period. Finally, Renasant Bank lifted its holdings in Philip Morris International by 3.3% in the first quarter. Renasant Bank now owns 1,994 shares of the company’s stock worth $317,000 after purchasing an additional 63 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.
Philip Morris International Trading Up 0.4%
Shares of NYSE PM opened at $165.43 on Thursday. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69. The company has a market capitalization of $257.50 billion, a price-to-earnings ratio of 31.45, a PEG ratio of 2.39 and a beta of 0.49. The firm has a 50-day moving average of $169.36 and a two-hundred day moving average of $167.50.
Philip Morris International Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a yield of 3.3%. Philip Morris International’s dividend payout ratio is currently 102.66%.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the stock. UBS Group reduced their price objective on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a report on Friday, September 5th. JPMorgan Chase & Co. upped their price objective on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. Needham & Company LLC reissued a “buy” rating and issued a $195.00 price target on shares of Philip Morris International in a report on Wednesday, July 23rd. Finally, Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.91.
View 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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