Hartford Investment Management Co. boosted its position in Philip Morris International Inc. (NYSE:PM) by 0.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 210,540 shares of the company’s stock after acquiring an additional 1,502 shares during the period. Hartford Investment Management Co.’s holdings in Philip Morris International were worth $16,534,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Capital Wealth Management LLC bought a new stake in shares of Philip Morris International during the 1st quarter valued at about $234,000. Municipal Employees Retirement System of Michigan bought a new stake in shares of Philip Morris International during the 4th quarter valued at about $5,362,000. Keystone Financial Group boosted its stake in shares of Philip Morris International by 1.0% during the 1st quarter. Keystone Financial Group now owns 16,521 shares of the company’s stock valued at $1,460,000 after purchasing an additional 165 shares in the last quarter. Worldquant Millennium Quantitative Strategies LLC boosted its stake in shares of Philip Morris International by 26.0% during the 4th quarter. Worldquant Millennium Quantitative Strategies LLC now owns 31,214 shares of the company’s stock valued at $2,084,000 after purchasing an additional 6,449 shares in the last quarter. Finally, Ellis Investment Partners LLC boosted its stake in shares of Philip Morris International by 8,799.3% during the 1st quarter. Ellis Investment Partners LLC now owns 690,054 shares of the company’s stock valued at $690,000 after purchasing an additional 682,300 shares in the last quarter. 73.48% of the stock is currently owned by institutional investors and hedge funds.
NYSE:PM opened at $83.31 on Monday. Philip Morris International Inc. has a one year low of $64.67 and a one year high of $92.74. The business’s 50-day simple moving average is $81.44. The company has a market capitalization of $129.97 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 2.06 and a beta of 0.95.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 21st were paid a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 5.47%. The ex-dividend date of this dividend was Thursday, June 20th. Philip Morris International’s payout ratio is currently 89.41%.
A number of equities research analysts have recently weighed in on PM shares. ValuEngine lowered shares of Philip Morris International from a “hold” rating to a “sell” rating in a research note on Thursday. Societe Generale raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. Bank of America raised shares of Philip Morris International from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $81.00 to $94.00 in a research note on Friday, May 17th. Barclays raised shares of Philip Morris International from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $82.00 to $100.00 in a research note on Friday, July 19th. Finally, Wells Fargo & Co set a $102.00 price objective on shares of Philip Morris International and gave the stock a “buy” rating in a research note on Friday, July 19th. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. Philip Morris International presently has an average rating of “Hold” and an average price target of $93.92.
In other Philip Morris International news, insider Mario Masseroli sold 1,100 shares of Philip Morris International stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $87.42, for a total value of $96,162.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael R. Kunst bought 1,000 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was purchased at an average cost of $79.66 per share, with a total value of $79,660.00. The disclosure for this purchase can be found here. Insiders own 0.21% of the company’s stock.
Philip Morris International Company 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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