Titan Investment Management LLC acquired a new position in Philip Morris International Inc. (NYSE:PM – Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 12,670 shares of the company’s stock, valued at approximately $2,032,000. Philip Morris International accounts for about 1.9% of Titan Investment Management LLC’s holdings, making the stock its 19th largest position.
Other large investors have also added to or reduced their stakes in the company. Portfolio Resources Advisor Group Inc. bought a new position in shares of Philip Morris International in the fourth quarter valued at approximately $26,000. Dogwood Wealth Management LLC grew its holdings in shares of Philip Morris International by 96.5% during the third quarter. Dogwood Wealth Management LLC now owns 167 shares of the company’s stock worth $27,000 after purchasing an additional 82 shares in the last quarter. Richards Merrill & Peterson Inc. purchased a new position in shares of Philip Morris International during the fourth quarter worth about $28,000. Safe Harbor Fiduciary LLC bought a new position in shares of Philip Morris International in the fourth quarter worth approximately $29,000. Finally, Entrust Financial LLC bought a new position in shares of Philip Morris International in the fourth quarter worth approximately $31,000. Institutional investors own 78.63% of the company’s stock.
Philip Morris International Trading Down 0.4%
PM opened at $178.68 on Friday. The company has a market cap of $278.48 billion, a P/E ratio of 25.13, a P/E/G ratio of 2.07 and a beta of 0.38. The business’s 50-day moving average price is $174.44 and its 200-day moving average price is $170.61. Philip Morris International Inc. has a 12 month low of $142.11 and a 12 month high of $193.05.
Philip Morris International Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Thursday, June 25th will be given a $1.47 dividend. The ex-dividend date is Thursday, June 25th. This represents a $5.88 annualized dividend and a yield of 3.3%. Philip Morris International’s payout ratio is presently 82.70%.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of Philip Morris International from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, May 20th. Bank of America restated a “buy” rating on shares of Philip Morris International in a research report on Thursday, May 21st. Stifel Nicolaus dropped their price target on Philip Morris International from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Finally, Needham & Company LLC restated a “buy” rating and issued a $200.00 price objective on shares of Philip Morris International in a report on Thursday, April 23rd. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Philip Morris International has an average rating of “Moderate Buy” and a consensus target price of $192.88.
Philip Morris International Company Profile
Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.
PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.
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