First Command Financial Services Inc. grew its position in shares of Philip Morris International Inc. (NYSE:PM) by 5.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,611 shares of the company’s stock after acquiring an additional 125 shares during the quarter. First Command Financial Services Inc.’s holdings in Philip Morris International were worth $198,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of PM. Nuveen Asset Management LLC grew its stake in Philip Morris International by 23,232.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 11,295,814 shares of the company’s stock valued at $887,059,000 after acquiring an additional 11,247,401 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Philip Morris International by 41.5% in the 2nd quarter. Invesco Ltd. now owns 30,080,523 shares of the company’s stock worth $2,362,224,000 after acquiring an additional 8,824,567 shares during the period. Morgan Stanley lifted its stake in shares of Philip Morris International by 16.9% in the 2nd quarter. Morgan Stanley now owns 34,485,714 shares of the company’s stock worth $2,708,164,000 after acquiring an additional 4,998,070 shares during the period. BlackRock Inc. lifted its stake in shares of Philip Morris International by 5.1% in the 2nd quarter. BlackRock Inc. now owns 100,831,956 shares of the company’s stock worth $7,918,335,000 after acquiring an additional 4,879,296 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of Philip Morris International by 56.3% in the second quarter. AQR Capital Management LLC now owns 4,619,770 shares of the company’s stock valued at $360,204,000 after purchasing an additional 1,663,264 shares during the period. 74.16% of the stock is owned by hedge funds and other institutional investors.
PM traded up $0.93 during trading on Monday, hitting $81.48. The company had a trading volume of 122,842 shares, compared to its average volume of 7,012,764. The company has a market cap of $124.23 billion, a PE ratio of 15.97, a P/E/G ratio of 1.98 and a beta of 1.00. The business has a 50-day moving average of $74.84 and a 200-day moving average of $80.73. Philip Morris International Inc. has a 1-year low of $64.67 and a 1-year high of $92.74.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Wednesday, September 25th were paid a dividend of $1.17 per share. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.14. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $4.68 annualized dividend and a yield of 5.74%. Philip Morris International’s payout ratio is presently 91.76%.
In other Philip Morris International news, insider Mario Masseroli sold 1,100 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $87.42, for a total transaction of $96,162.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.21% of the stock is owned by insiders.
PM has been the subject of several recent analyst reports. Cowen reiterated a “hold” rating on shares of Philip Morris International in a research note on Thursday, September 12th. Citigroup cut their price target on shares of Philip Morris International from $110.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Barclays raised shares of Philip Morris International from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $82.00 to $100.00 in a report on Friday, July 19th. ValuEngine raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Stifel Nicolaus reaffirmed a “buy” rating on shares of Philip Morris International in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $92.50.
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.
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