Russell Investments Group Ltd.lifted its stake in Philip Morris International Inc.(NYSE:PM) by 76.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission.The firm owned 1,624,627 shares of the company’s stock after purchasing an additional 703,034 shares during the period.Russell Investments Group Ltd.owned approximately 0.10% of Philip Morris International worth $123,319,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in PM.Titan Capital Management LLC CA acquired a new position in Philip Morris International during the second quarter worth about $30,000.Strategic Blueprint LLC acquired a new position in Philip Morris International during the third quarter worth about $30,000.
River & Mercantile Asset Management LLP acquired a new position in Philip Morris International during the second quarter worth about $32,000.Manchester Financial Inc.acquired a new position in Philip Morris International during the second quarter worth about $36,000.Finally, Brand Asset Management Group Inc.
raised 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 acquiring an additional 122 shares during the last quarter.Hedge funds and other institutional investors own 74.18% of the company’s stock.
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PM has been the subject of a number of research reports.Cowen restated a “hold” rating on shares of Philip Morris International in a research report on Thursday, September 12th.Bank of America upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and set a $96.00 target price for the company in a research report on Tuesday, October 1st.Wells Fargo & Co cut their target price on shares of Philip Morris International from $102.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, October 18th.Morgan Stanley cut their target price on shares of Philip Morris International from $94.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, July 12th.
Finally, JPMorgan Chase & Co.set a $86.00 target price on shares of Philip Morris International and gave the stock a “neutral” rating in a research report on Wednesday, August 28th.One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company.The company presently has an average rating of “Buy” and a consensus price target of $92.27.Shares of NYSE:PM traded up $0.47 during trading on Monday, reaching $83.44.The stock had a trading volume of 4,263,138 shares, compared to its average volume of 4,887,748.The business has a fifty day moving average price of $77.27 and a 200-day moving average price of $80.40.
The stock has a market cap of $126.71 billion, a P/E ratio of 16.36, a PEG ratio of 1.98 and a beta of 1.00.Philip Morris International Inc.
has a fifty-two week low of $64.67 and a fifty-two week high of $92.74.
Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, October 17th.The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.08.The business had revenue of $7.64 billion during the quarter, compared to analyst estimates of $7.65 billion.Philip Morris International had a net margin of 9.59% and a negative return on equity of 82.33%.The company’s revenue was up 1.8% on a year-over-year basis.
During the same quarter in the previous year, the business posted $1.44 earnings per share.Equities analysts anticipate that Philip Morris International Inc.will post 5.24 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th.Stockholders of record on Wednesday, September 25th were given a $1.17 dividend.This represents a $4.68 dividend on an annualized basis and a dividend yield of 5.61%.
The ex-dividend date was Tuesday, September 24th.This is a positive change from Philip Morris International’s previous quarterly dividend of $1.14.Philip Morris International’s payout ratio is currently 91.76%.
Philip Morris International 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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