GM Advisory Group LLC increased its stake in Philip Morris International Inc. (NYSE:PM – Free Report) by 1,362.7% in the 3rd quarter, Holdings Channel reports. The firm owned 28,215 shares of the company’s stock after purchasing an additional 26,286 shares during the period. GM Advisory Group LLC’s holdings in Philip Morris International were worth $4,576,000 as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in the stock. Second Line Capital LLC raised its position in shares of Philip Morris International by 4.8% in the second quarter. Second Line Capital LLC now owns 1,338 shares of the company’s stock valued at $245,000 after purchasing an additional 61 shares during the period. Meridian Wealth Partners LLC boosted its holdings in shares of Philip Morris International by 3.1% during the 2nd quarter. Meridian Wealth Partners LLC now owns 2,060 shares of the company’s stock worth $375,000 after buying an additional 62 shares during the period. Bernardo Wealth Planning LLC grew its stake in Philip Morris International by 1.8% in the 2nd quarter. Bernardo Wealth Planning LLC now owns 3,584 shares of the company’s stock valued at $653,000 after buying an additional 62 shares during the last quarter. Raiffeisen Bank International AG grew its stake in Philip Morris International by 1.4% in the 2nd quarter. Raiffeisen Bank International AG now owns 4,471 shares of the company’s stock valued at $803,000 after buying an additional 63 shares during the last quarter. Finally, Nia Impact Advisors LLC raised its holdings in Philip Morris International by 4.2% in the 2nd quarter. Nia Impact Advisors LLC now owns 1,577 shares of the company’s stock worth $287,000 after acquiring an additional 63 shares during the period. Institutional investors own 78.63% of the company’s stock.
Philip Morris International Price Performance
NYSE:PM opened at $172.86 on Wednesday. The stock has a market cap of $269.09 billion, a P/E ratio of 23.78, a PEG ratio of 1.99 and a beta of 0.38. Philip Morris International Inc. has a one year low of $142.11 and a one year high of $191.30. The company has a fifty day moving average price of $176.88 and a 200 day moving average price of $164.23.
Philip Morris International Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Thursday, March 19th will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Thursday, March 19th. Philip Morris International’s dividend payout ratio (DPR) is presently 80.88%.
Analysts Set New Price Targets
A number of research analysts have weighed in on PM shares. UBS Group reissued a “neutral” rating and set a $181.50 target price on shares of Philip Morris International in a research report on Monday, February 9th. Wall Street Zen downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Barclays reiterated an “overweight” rating and issued a $205.00 price objective on shares of Philip Morris International in a research note on Monday, February 23rd. JPMorgan Chase & Co. decreased their target price on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Finally, Stifel Nicolaus set a $200.00 target price on Philip Morris International in a report on Monday, February 9th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $196.83.
Check Out Our Latest Analysis on Philip Morris International
Insider Activity
In related news, CEO Jacek Olczak sold 80,000 shares of Philip Morris International stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $182.18, for a total transaction of $14,574,400.00. Following the sale, the chief executive officer directly owned 632,344 shares of the company’s stock, valued at $115,200,429.92. This trade represents a 11.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Emmanuel Babeau sold 33,800 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $181.61, for a total value of $6,138,418.00. Following the transaction, the chief financial officer owned 164,463 shares in the company, valued at $29,868,125.43. This represents a 17.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.13% of the stock is currently owned by company insiders.
About Philip Morris International
Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.
PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.
Further Reading
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