Occidental Asset Management LLC Increases Stock Position in Philip Morris International Inc. (NYSE:PM)
Occidental Asset Management LLC raised its holdings in Philip Morris International Inc. (NYSE:PM) by 105.4% during the 4th quarter, Holdings Channel reports. The firm owned 5,691 shares of the company’s stock after purchasing an additional 2,920 shares during the quarter. Occidental Asset Management LLC’s holdings in Philip Morris International were worth $484,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Strategic Blueprint LLC purchased a new position in shares of Philip Morris International during the third quarter valued at approximately $30,000. River & Mercantile Asset Management LLP purchased a new position in Philip Morris International during the second quarter worth approximately $32,000. NewSquare Capital LLC raised its stake in Philip Morris International by 205.2% during the fourth quarter. NewSquare Capital LLC now owns 409 shares of the company’s stock worth $35,000 after purchasing an additional 275 shares during the period. Northwest Investment Counselors LLC purchased a new position in Philip Morris International during the third quarter worth approximately $37,000. Finally, Prestige Wealth Management Group LLC purchased a new position in Philip Morris International during the second quarter worth approximately $38,000. 73.05% of the stock is currently owned by institutional investors.
A number of equities analysts have weighed in on PM shares. ValuEngine downgraded shares of Philip Morris International from a “sell” rating to a “strong sell” rating in a research note on Friday, January 10th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Philip Morris International in a research note on Tuesday, October 15th. Bank of America raised shares of Philip Morris International from a “neutral” rating to a “buy” rating and set a $96.00 price target on the stock in a research note on Tuesday, October 1st. Wells Fargo & Co cut their price target on shares of Philip Morris International from $102.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. Finally, Piper Sandler increased their price objective on shares of Philip Morris International from $105.00 to $114.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. Philip Morris International currently has a consensus rating of “Hold” and an average target price of $95.17.
Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, October 17th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.08. Philip Morris International had a net margin of 9.59% and a negative return on equity of 82.33%. The company had revenue of $7.64 billion during the quarter, compared to analyst estimates of $7.65 billion. During the same quarter in the prior year, the business earned $1.44 earnings per share. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. Sell-side analysts forecast that Philip Morris International Inc. will post 5.2 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, December 19th were given a $1.17 dividend. This represents a $4.68 annualized dividend and a dividend yield of 5.28%. The ex-dividend date was Wednesday, December 18th. Philip Morris International’s payout ratio is currently 91.76%.
About Philip Morris International
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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