WINTON GROUP Ltd decreased its position in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 77.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,629 shares of the company’s stock after selling 8,950 shares during the quarter. WINTON GROUP Ltd’s holdings in Philip Morris International were worth $266,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of PM. Gilbert & Cook Inc. boosted its position in shares of Philip Morris International by 3.8% during the fourth quarter. Gilbert & Cook Inc. now owns 10,946 shares of the company’s stock valued at $1,030,000 after buying an additional 404 shares during the last quarter. Clearbridge Investments LLC purchased a new position in shares of Philip Morris International during the fourth quarter valued at approximately $460,000. D.A. Davidson & CO. boosted its position in shares of Philip Morris International by 2.2% during the fourth quarter. D.A. Davidson & CO. now owns 98,075 shares of the company’s stock valued at $9,227,000 after buying an additional 2,140 shares during the last quarter. Assetmark Inc. boosted its position in Philip Morris International by 21.1% in the fourth quarter. Assetmark Inc. now owns 137,340 shares of the company’s stock worth $12,921,000 after purchasing an additional 23,911 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Philip Morris International by 5.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 5,123 shares of the company’s stock worth $482,000 after purchasing an additional 268 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.
Philip Morris International Stock Performance
NYSE:PM opened at $120.96 on Thursday. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $128.22. The firm has a market cap of $188.04 billion, a price-to-earnings ratio of 23.63, a PEG ratio of 2.45 and a beta of 0.55. The business’s fifty day moving average is $117.57 and its 200 day moving average is $104.25.
Philip Morris International Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th will be paid a $1.35 dividend. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date is Thursday, September 26th. Philip Morris International’s dividend payout ratio is currently 105.47%.
Analysts Set New Price Targets
Several research firms have weighed in on PM. Bank of America boosted their price objective on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Stifel Nicolaus boosted their price objective on Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Barclays upped their price target on Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. upped their price target on Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $117.05.
Read Our Latest Research Report on PM
Insiders Place Their Bets
In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $113.01, for a total value of $2,260,200.00. Following the transaction, the insider now directly owns 158,447 shares in the company, valued at approximately $17,906,095.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $113.01, for a total value of $2,260,200.00. Following the transaction, the insider now owns 158,447 shares in the company, valued at $17,906,095.47. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.
Philip Morris International 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.
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