Philip Morris International Inc. (NYSE:PM) Shares Sold by Tanaka Capital Management Inc.
Tanaka Capital Management Inc. trimmed its holdings in Philip Morris International Inc. (NYSE:PM) by 4.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,368 shares of the company’s stock after selling 256 shares during the period. Philip Morris International accounts for about 1.3% of Tanaka Capital Management Inc.’s holdings, making the stock its 23rd biggest holding. Tanaka Capital Management Inc.’s holdings in Philip Morris International were worth $422,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Titan Capital Management LLC CA acquired a new stake in Philip Morris International during the second quarter worth about $30,000. Manchester Financial Inc. acquired a new stake in Philip Morris International during the second quarter worth about $36,000. Brand Asset Management Group Inc. increased its position in 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 purchasing an additional 122 shares during the last quarter. HMS Capital Management LLC acquired a new stake in Philip Morris International during the second quarter worth about $46,000. Finally, MCF Advisors LLC increased its position in 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 purchasing an additional 127 shares during the last quarter. Institutional investors and hedge funds own 74.11% of the company’s stock.
PM stock traded down $0.51 during mid-day trading on Friday, hitting $71.20. 14,407,779 shares of the company were exchanged, compared to its average volume of 9,676,129. The firm has a market capitalization of $111.57 billion, a P/E ratio of 13.96, a PEG ratio of 1.75 and a beta of 0.99. The business has a fifty day simple moving average of $78.01 and a 200-day simple moving average of $82.48. Philip Morris International Inc. has a 12-month low of $64.67 and a 12-month high of $92.74.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Wednesday, September 25th will be paid a dividend of $1.17 per share. This represents a $4.68 annualized dividend and a yield of 6.57%. The ex-dividend date of this dividend is Tuesday, September 24th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.14. Philip Morris International’s dividend payout ratio (DPR) is 89.41%.
PM has been the subject of several recent analyst reports. Cowen restated a “hold” rating on shares of Philip Morris International in a research report on Thursday, September 12th. Citigroup restated a “buy” rating on shares of Philip Morris International in a research report on Wednesday, September 4th. Barclays upgraded shares of Philip Morris International from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $82.00 to $100.00 in a research report on Friday, July 19th. ValuEngine cut shares of Philip Morris International from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Morgan Stanley cut their price objective on shares of Philip Morris International from $94.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $93.77.
In other Philip Morris International news, insider Mario Masseroli sold 1,100 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $87.42, for a total transaction of $96,162.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.21% of the company’s stock.
Philip Morris International 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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