Rockland Trust Co. grew its holdings in Philip Morris International Inc. (NYSE:PM) by 13.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,666 shares of the company’s stock after purchasing an additional 3,137 shares during the period. Rockland Trust Co.’s holdings in Philip Morris International were worth $2,047,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Titan Capital Management LLC CA acquired a new stake in Philip Morris International during the second quarter worth about $30,000. River & Mercantile Asset Management LLP acquired a new stake in Philip Morris International during the second quarter worth about $32,000. Manchester Financial Inc. acquired a new stake in Philip Morris International during the second quarter worth about $36,000. Brand Asset Management Group Inc. grew its position 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 worth $37,000 after buying an additional 122 shares in the last quarter. Finally, Prestige Wealth Management Group LLC acquired a new stake in Philip Morris International during the second quarter valued at approximately $38,000. 74.11% of the stock is currently owned by institutional investors.
Shares of PM opened at $77.95 on Friday. The company has a market capitalization of $120.50 billion, a P/E ratio of 15.28, a PEG ratio of 1.90 and a beta of 1.00. Philip Morris International Inc. has a one year low of $64.67 and a one year high of $92.74. The business’s 50 day simple moving average is $74.89 and its 200-day simple moving average is $81.07.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Wednesday, September 25th were issued a $1.17 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.14. This represents a $4.68 annualized dividend and a dividend yield of 6.00%. The ex-dividend date of this dividend was Tuesday, September 24th. Philip Morris International’s payout ratio is presently 91.76%.
In other news, insider Mario Masseroli sold 1,100 shares of the business’s stock in a transaction that occurred 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 through this hyperlink. 0.21% of the stock is owned by insiders.
A number of research firms have weighed in on PM. Bank of America raised Philip Morris International from a “neutral” rating to a “buy” rating and set a $96.00 price objective on the stock in a report on Tuesday, October 1st. 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. Wells Fargo & Co set a $102.00 price objective on Philip Morris International and gave the company a “buy” rating in a report on Monday, August 26th. Barclays raised Philip Morris International from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $82.00 to $100.00 in a report on Friday, July 19th. Finally, Morgan Stanley decreased their price objective on Philip Morris International from $94.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Two 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. Philip Morris International currently has a consensus rating of “Hold” and an average price target of $93.92.
Philip Morris International Company 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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