Clarity Capital Partners LLC purchased a new stake in shares of Philip Morris International Inc. (NYSE:PM – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,447 shares of the company’s stock, valued at approximately $264,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Abound Wealth Management boosted its position in shares of Philip Morris International by 566.7% during the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after purchasing an additional 136 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new position in shares of Philip Morris International during the 1st quarter worth about $30,000. CBIZ Investment Advisory Services LLC boosted its position in shares of Philip Morris International by 405.0% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock worth $32,000 after purchasing an additional 162 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of Philip Morris International during the 1st quarter worth about $34,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of Philip Morris International during the 1st quarter worth about $35,000. Institutional investors own 78.63% of the company’s stock.
Philip Morris International Stock Performance
NYSE:PM opened at $153.09 on Friday. The firm has a market cap of $238.30 billion, a price-to-earnings ratio of 29.10, a price-to-earnings-growth ratio of 2.28 and a beta of 0.46. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69. The firm has a 50-day moving average price of $164.82 and a two-hundred day moving average price of $168.54.
Philip Morris International Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be paid a $1.47 dividend. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date is Friday, October 3rd. This represents a $5.88 annualized dividend and a yield of 3.8%. Philip Morris International’s dividend payout ratio (DPR) is 102.66%.
Analyst Ratings Changes
PM has been the topic of a number of research analyst reports. Barclays cut their price objective on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. Citigroup restated a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. Wall Street Zen lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. KGI Securities assumed coverage on shares of Philip Morris International in a report on Monday, August 4th. They issued an “outperform” rating on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $195.00 target price on shares of Philip Morris International in a report on Wednesday, July 23rd. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $195.44.
View Our Latest Report on Philip Morris International
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.
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