Amalgamated Bank Purchases 11,226 Shares of Philip Morris International Inc. $PM

Amalgamated Bank grew its position in shares of Philip Morris International Inc. (NYSE:PM) by 3.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 337,768 shares of the company’s stock after acquiring an additional 11,226 shares during the quarter. Philip Morris International makes up about 0.5% of Amalgamated Bank’s holdings, making the stock its 25th biggest holding. Amalgamated Bank’s holdings in Philip Morris International were worth $61,518,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. PFS Partners LLC increased its holdings in shares of Philip Morris International by 24.8% in the second quarter. PFS Partners LLC now owns 292 shares of the company’s stock worth $53,000 after buying an additional 58 shares during the period. Uncommon Cents Investing LLC increased its holdings in shares of Philip Morris International by 1.1% in the second quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company’s stock worth $1,032,000 after buying an additional 61 shares during the period. NFP Retirement Inc. increased its holdings in shares of Philip Morris International by 2.5% in the first quarter. NFP Retirement Inc. now owns 2,589 shares of the company’s stock worth $411,000 after buying an additional 62 shares during the period. Cranbrook Wealth Management LLC increased its holdings in shares of Philip Morris International by 6.5% in the second quarter. Cranbrook Wealth Management LLC now owns 1,014 shares of the company’s stock worth $185,000 after buying an additional 62 shares during the period. Finally, Renasant Bank increased its holdings in shares of Philip Morris International by 3.3% in the first quarter. Renasant Bank now owns 1,994 shares of the company’s stock worth $317,000 after buying an additional 63 shares during the period. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Philip Morris International stock opened at $146.58 on Thursday. The stock’s 50 day simple moving average is $161.17 and its two-hundred day simple moving average is $169.05. The stock has a market cap of $228.17 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 2.17 and a beta of 0.46. Philip Morris International Inc. has a fifty-two week low of $116.12 and a fifty-two week high of $186.69.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. The business had revenue of $8.12 billion for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%. On average, analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were given a $1.47 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.0%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s payout ratio is presently 106.52%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. KGI Securities initiated coverage on Philip Morris International in a report on Monday, August 4th. They issued an “outperform” rating on the stock. UBS Group cut their target price on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a research note on Friday, September 5th. The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Jefferies Financial Group initiated coverage on Philip Morris International in a research note on Wednesday, July 9th. They issued a “buy” rating and a $220.00 target price on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $195.00 target price on shares of Philip Morris International in a research note on Wednesday, July 23rd. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $194.00.

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.