CX Institutional increased its holdings in Philip Morris International Inc. (NYSE:PM) by 93.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,738 shares of the company’s stock after buying an additional 838 shares during the period. CX Institutional’s holdings in Philip Morris International were worth $130,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the stock. Perennial Advisors LLC purchased a new position in Philip Morris International in the first quarter worth $29,000. Prestige Wealth Management Group LLC grew its holdings in Philip Morris International by 43.4% in the first quarter. Prestige Wealth Management Group LLC now owns 872 shares of the company’s stock worth $64,000 after purchasing an additional 264 shares during the last quarter. Pathstone Family Office LLC purchased a new position in Philip Morris International in the first quarter worth $65,000. CVA Family Office LLC purchased a new position in Philip Morris International in the first quarter worth $69,000. Finally, Asset Dedication LLC grew its holdings in Philip Morris International by 22.7% in the second quarter. Asset Dedication LLC now owns 984 shares of the company’s stock worth $69,000 after purchasing an additional 182 shares during the last quarter. 73.98% of the stock is owned by institutional investors.
Philip Morris International stock opened at $78.91 on Thursday. The firm has a market cap of $122.89 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 2.29 and a beta of 0.76. Philip Morris International Inc. has a 52 week low of $56.01 and a 52 week high of $90.17. The business’s 50-day moving average price is $78.36 and its 200 day moving average price is $75.00.
Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, July 21st. The company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.10 by $0.19. Philip Morris International had a negative return on equity of 80.24% and a net margin of 9.54%. The firm had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.54 billion. During the same period last year, the company earned $1.46 earnings per share. Philip Morris International’s revenue for the quarter was down 13.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Philip Morris International Inc. will post 5.06 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 13th. Shareholders of record on Thursday, September 24th were issued a $1.20 dividend. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.17. This represents a $4.80 annualized dividend and a yield of 6.08%. The ex-dividend date was Wednesday, September 23rd. Philip Morris International’s dividend payout ratio (DPR) is presently 92.49%.
A number of equities research analysts have recently weighed in on the stock. Goldman Sachs Group boosted their price objective on shares of Philip Morris International from $85.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, September 23rd. Stifel Nicolaus boosted their price objective on shares of Philip Morris International from $85.00 to $90.00 in a report on Wednesday, July 22nd. Piper Sandler reissued a “buy” rating and set a $98.00 price objective on shares of Philip Morris International in a report on Tuesday, August 4th. Citigroup raised shares of Philip Morris International from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $82.00 to $100.00 in a report on Wednesday, October 7th. Finally, ValuEngine lowered shares of Philip Morris International from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Two investment analysts have rated the stock with a sell rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $93.50.
In other Philip Morris International news, Director Louis C. Camilleri sold 75,000 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $77.73, for a total value of $5,829,750.00. 0.22% of the stock is currently owned by company insiders.
About Philip Morris International
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, 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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