MML Investors Services LLC boosted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 4.8% during the second quarter, Holdings Channel reports. The fund owned 157,393 shares of the company’s stock after acquiring an additional 7,207 shares during the period. MML Investors Services LLC’s holdings in Philip Morris International were worth $12,360,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of PM. Titan Capital Management LLC CA bought a new position in shares of Philip Morris International in the 2nd quarter valued at about $30,000. Manchester Financial Inc. acquired a new stake in shares of Philip Morris International during the 2nd quarter worth approximately $36,000. Brand Asset Management Group Inc. raised its stake in shares of Philip Morris International by 34.9% during the second quarter. Brand Asset Management Group Inc. now owns 472 shares of the company’s stock worth $37,000 after buying an additional 122 shares during the last quarter. HMS Capital Management LLC bought a new stake in shares of Philip Morris International during the second quarter worth approximately $46,000. Finally, MCF Advisors LLC raised its stake in shares of Philip Morris International by 26.7% during the second quarter. MCF Advisors LLC now owns 603 shares of the company’s stock worth $47,000 after buying an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 74.59% of the company’s stock.
NYSE PM traded up $0.50 during trading on Wednesday, reaching $75.00. 5,286,845 shares of the stock traded hands, compared to its average volume of 7,948,022. Philip Morris International Inc. has a fifty-two week low of $64.67 and a fifty-two week high of $92.74. The firm has a market cap of $114.04 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 1.79 and a beta of 0.99. The stock’s 50-day moving average price is $80.35 and its 200 day moving average price is $83.13.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 25th will be given a $1.17 dividend. The ex-dividend date is Tuesday, September 24th. This represents a $4.68 dividend on an annualized basis and a dividend yield of 6.24%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.14. Philip Morris International’s dividend payout ratio is currently 89.41%.
In related news, insider Mario Masseroli sold 1,100 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $87.42, for a total transaction of $96,162.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.21% of the stock is owned by corporate insiders.
A number of equities analysts have issued reports on the stock. Wells Fargo & Co set a $102.00 price objective on shares of Philip Morris International and gave the company a “buy” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. set a $86.00 target price on shares of Philip Morris International and gave the company a “neutral” rating in a research report on Wednesday, August 28th. Bank of America raised Philip Morris International from an “underperform” rating to a “neutral” rating and increased their price target for the company from $81.00 to $94.00 in a research note on Friday, May 17th. Barclays upgraded Philip Morris International from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $82.00 to $100.00 in a research report on Friday, July 19th. Finally, Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a research note on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. Philip Morris International presently has an average rating of “Hold” and a consensus price target of $93.77.
Philip Morris International Company Profile
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.
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