Amalgamated Bank Buys 11,226 Shares of Philip Morris International Inc. $PM

Amalgamated Bank grew its stake in shares of Philip Morris International Inc. (NYSE:PM) by 3.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 337,768 shares of the company’s stock after purchasing an additional 11,226 shares during the period. Philip Morris International comprises approximately 0.5% of Amalgamated Bank’s portfolio, making the stock its 25th biggest position. Amalgamated Bank’s holdings in Philip Morris International were worth $61,518,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PM. WCM Investment Management LLC increased its holdings in Philip Morris International by 24,968.0% during the 2nd quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock worth $2,041,223,000 after purchasing an additional 11,230,626 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Philip Morris International during the first quarter valued at approximately $1,712,994,000. Wellington Management Group LLP increased its position in shares of Philip Morris International by 26.4% during the first quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock valued at $3,466,730,000 after acquiring an additional 4,563,632 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Philip Morris International by 57.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock valued at $1,554,686,000 after purchasing an additional 3,575,158 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in Philip Morris International by 22.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 9,018,628 shares of the company’s stock valued at $1,431,527,000 after purchasing an additional 1,635,636 shares during the period. 78.63% of the stock is owned by institutional investors.

Philip Morris International Stock Performance

Shares of PM stock opened at $146.58 on Thursday. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69. The company has a market capitalization of $228.17 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 2.17 and a beta of 0.46. The business’s fifty day moving average is $161.17 and its 200 day moving average is $169.05.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The company had revenue of $8.12 billion for the quarter. On average, sell-side analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.0%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, October 3rd. Philip Morris International’s dividend payout ratio (DPR) is 106.52%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PM. Needham & Company LLC reissued a “buy” rating and set a $195.00 price objective on shares of Philip Morris International in a report on Wednesday, July 23rd. Wall Street Zen lowered Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. JPMorgan Chase & Co. increased their price objective on Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Barclays reduced their price objective on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Finally, Citigroup reissued a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Philip Morris International has an average rating of “Moderate Buy” and an average target price of $194.00.

Philip Morris International Company 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.