Shelton Capital Management Acquires 784 Shares of Philip Morris International Inc. (NYSE:PM)

Shelton Capital Management increased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 7.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,384 shares of the company’s stock after purchasing an additional 784 shares during the quarter. Shelton Capital Management’s holdings in Philip Morris International were worth $1,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of PM. Financial Gravity Asset Management Inc. bought a new position in Philip Morris International in the second quarter valued at about $753,000. Barrett & Company Inc. bought a new position in Philip Morris International in the first quarter valued at about $32,000. Blume Capital Management Inc. bought a new position in Philip Morris International in the first quarter valued at about $36,000. Spotlight Asset Group Inc. bought a new position in Philip Morris International in the second quarter valued at about $37,000. Finally, Altshuler Shaham Ltd bought a new position in Philip Morris International in the first quarter valued at about $40,000. 79.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PM has been the topic of a number of recent research reports. Barclays lowered their target price on Philip Morris International from $115.00 to $110.00 and set an “overweight” rating on the stock in a report on Thursday, September 21st. Morgan Stanley decreased their price objective on Philip Morris International from $118.00 to $113.00 and set an “overweight” rating on the stock in a research note on Monday, October 2nd. Redburn Atlantic initiated coverage on Philip Morris International in a research note on Thursday. They issued a “neutral” rating and a $95.00 price objective on the stock. Bank of America cut their target price on Philip Morris International from $118.00 to $111.00 in a research report on Friday, September 29th. Finally, StockNews.com initiated coverage on Philip Morris International in a research report on Thursday, October 5th. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and a consensus target price of $109.36.

Philip Morris International Price Performance

NYSE PM opened at $91.95 on Monday. The stock has a market capitalization of $142.74 billion, a PE ratio of 17.85, a P/E/G ratio of 2.16 and a beta of 0.77. The business has a 50 day simple moving average of $92.20 and a two-hundred day simple moving average of $94.26. Philip Morris International Inc. has a 1-year low of $87.23 and a 1-year high of $105.62.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, October 19th. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.05. The business had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.21 billion. Philip Morris International had a negative return on equity of 129.48% and a net margin of 9.62%. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.53 EPS. On average, analysts anticipate that Philip Morris International Inc. will post 6.16 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Stockholders of record on Wednesday, September 27th were issued a $1.30 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.27. The ex-dividend date was Tuesday, September 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.66%. Philip Morris International’s payout ratio is 100.97%.

About Philip Morris International

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.