River & Mercantile Asset Management LLP bought a new position in shares of Philip Morris International Inc. (NYSE:PM) during the 2nd quarter, Holdings Channel.com reports. The firm bought 402 shares of the company’s stock, valued at approximately $32,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Titan Capital Management LLC CA bought a new position in shares of Philip Morris International in the second quarter valued at approximately $30,000. Manchester Financial Inc. bought a new position in Philip Morris International during the second quarter valued at $36,000. Brand Asset Management Group Inc. grew its holdings 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 valued at $37,000 after purchasing an additional 122 shares during the period. Prestige Wealth Management Group LLC bought a new position in Philip Morris International during the second quarter valued at $38,000. Finally, HMS Capital Management LLC bought a new position in Philip Morris International during the second quarter valued at $46,000. 74.11% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:PM opened at $77.95 on Friday. The company has a market cap of $120.50 billion, a P/E ratio of 15.28, a P/E/G ratio of 1.90 and a beta of 1.00. The stock’s fifty day moving average price is $74.89 and its two-hundred day moving average price is $81.07. Philip Morris International Inc. has a 1 year low of $64.67 and a 1 year high of $92.74.
Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, July 18th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.13. Philip Morris International had a negative return on equity of 80.96% and a net margin of 10.03%. The company had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.42 billion. During the same quarter last year, the business posted $1.41 earnings per share. The firm’s revenue was down .3% compared to the same quarter last year. Equities analysts forecast that Philip Morris International Inc. will post 5.2 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Wednesday, September 25th were given a $1.17 dividend. This represents a $4.68 dividend on an annualized basis and a dividend yield of 6.00%. The ex-dividend date was Tuesday, September 24th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.14. Philip Morris International’s dividend payout ratio (DPR) is 91.76%.
In related news, insider Mario Masseroli sold 1,100 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $87.42, for a total value of $96,162.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.21% of the company’s stock.
Several brokerages have weighed in on PM. Credit Suisse Group set a $80.00 price objective on Philip Morris International and gave the company a “sell” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. set a $86.00 price objective on Philip Morris International and gave the company a “neutral” rating in a report on Wednesday, August 28th. Morgan Stanley reduced their price objective on Philip Morris International from $94.00 to $86.00 and set an “overweight” rating for the company in a report on Friday, July 12th. ValuEngine lowered Philip Morris International from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Cowen reissued a “hold” rating on shares of Philip Morris International in a report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $93.92.
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.
Further Reading: What is systematic risk?
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