Cozad Asset Management Inc. Invests $1.73 Million in Philip Morris International Inc. (PM) Stock

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Cozad Asset Management Inc. bought a new position in shares of Philip Morris International Inc. (NYSE:PM) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 21,423 shares of the company’s stock, valued at approximately $1,730,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PM. Alerus Financial NA increased its holdings in shares of Philip Morris International by 11.3% in the second quarter. Alerus Financial NA now owns 87,413 shares of the company’s stock valued at $7,058,000 after purchasing an additional 8,897 shares during the last quarter. IMA Wealth Inc. acquired a new position in shares of Philip Morris International in the second quarter valued at $149,000. Envestnet Asset Management Inc. increased its holdings in shares of Philip Morris International by 11.2% in the second quarter. Envestnet Asset Management Inc. now owns 201,092 shares of the company’s stock valued at $16,235,000 after purchasing an additional 20,196 shares during the last quarter. Sumitomo Life Insurance Co. increased its holdings in shares of Philip Morris International by 6.7% in the second quarter. Sumitomo Life Insurance Co. now owns 68,443 shares of the company’s stock valued at $5,526,000 after purchasing an additional 4,321 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its holdings in shares of Philip Morris International by 8.4% in the second quarter. Great West Life Assurance Co. Can now owns 1,889,087 shares of the company’s stock valued at $152,646,000 after purchasing an additional 145,893 shares during the last quarter. Institutional investors and hedge funds own 72.88% of the company’s stock.

Several research firms have commented on PM. ValuEngine upgraded shares of Philip Morris International from a “strong sell” rating to a “sell” rating in a report on Monday, July 30th. JPMorgan Chase & Co. downgraded shares of Philip Morris International from an “overweight” rating to a “neutral” rating in a report on Friday, July 20th. Stifel Nicolaus decreased their price objective on shares of Philip Morris International from $100.00 to $93.00 and set a “buy” rating on the stock in a report on Friday, July 20th. Societe Generale cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Monday, July 23rd. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $93.00 target price on shares of Philip Morris International in a research report on Friday, July 13th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $103.36.

PM stock opened at $79.33 on Friday. The stock has a market capitalization of $124.44 billion, a PE ratio of 16.09, a P/E/G ratio of 1.76 and a beta of 0.82. The company has a debt-to-equity ratio of -2.76, a current ratio of 1.15 and a quick ratio of 0.64. Philip Morris International Inc. has a 12 month low of $76.21 and a 12 month high of $116.72.

Philip Morris International (NYSE:PM) last posted its earnings results on Thursday, July 19th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.18. The firm had revenue of $7.73 billion during the quarter, compared to analysts’ expectations of $7.53 billion. Philip Morris International had a net margin of 7.84% and a negative return on equity of 76.67%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 earnings per share. analysts anticipate that Philip Morris International Inc. will post 5.04 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 12th. Stockholders of record on Wednesday, September 26th will be issued a $1.14 dividend. The ex-dividend date of this dividend is Tuesday, September 25th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.75%. Philip Morris International’s dividend payout ratio (DPR) is currently 92.49%.

Philip Morris International Company Profile

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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