American Institute for Advanced Investment Management LLP purchased a new position in shares of Philip Morris International Inc. (NYSE:PM – Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,751 shares of the company’s stock, valued at approximately $213,000.
Other large investors have also added to or reduced their stakes in the company. Diversify Advisory Services LLC acquired a new position in Philip Morris International during the first quarter valued at $5,634,000. Axxcess Wealth Management LLC boosted its stake in shares of Philip Morris International by 25.4% in the first quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock worth $3,151,000 after buying an additional 6,974 shares during the last quarter. Duality Advisers LP grew its holdings in Philip Morris International by 165.6% during the first quarter. Duality Advisers LP now owns 38,644 shares of the company’s stock worth $3,541,000 after acquiring an additional 24,093 shares during the period. New Mexico Educational Retirement Board raised its position in Philip Morris International by 11.5% during the first quarter. New Mexico Educational Retirement Board now owns 90,111 shares of the company’s stock valued at $8,465,000 after acquiring an additional 9,300 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in Philip Morris International by 17.9% in the second quarter. Sequoia Financial Advisors LLC now owns 31,591 shares of the company’s stock valued at $3,203,000 after acquiring an additional 4,793 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.
Philip Morris International Stock Performance
Shares of NYSE:PM traded up $0.40 during trading on Thursday, reaching $131.81. The stock had a trading volume of 1,514,306 shares, compared to its average volume of 5,355,641. The business has a fifty day moving average price of $121.97 and a 200-day moving average price of $109.28. Philip Morris International Inc. has a 1-year low of $87.23 and a 1-year high of $132.87. The stock has a market cap of $204.91 billion, a PE ratio of 25.66, a PEG ratio of 2.35 and a beta of 0.55.
Philip Morris International Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.10%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is 105.47%.
Wall Street Analysts Forecast Growth
PM has been the subject of several recent research reports. Barclays lifted their target price on shares of Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $145.00 price objective (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday. Citigroup upped their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. upped their price target on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $126.85.
Read Our Latest Stock Report on PM
Insider Activity
In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the transaction, the insider now owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.13% of the company’s stock.
Philip Morris International Company 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.
See Also
- Five stocks we like better than Philip Morris International
- About the Markup Calculator
- Why Meta’s Pre-Earnings Dip Could Be A Golden Entry Opportunity
- What Is WallStreetBets and What Stocks Are They Targeting?
- Spirit Airlines Stock Nearly Doubled: Are Clear Skies Ahead?
- What is a Dividend King?
- Tesla Stock: Buy the Dips, Sell the Rips
Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM – Free Report).
Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.