SOL Capital Management CO Acquires 677 Shares of Philip Morris International Inc. (NYSE:PM)

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SOL Capital Management CO increased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 12.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,171 shares of the company’s stock after acquiring an additional 677 shares during the period. SOL Capital Management CO’s holdings in Philip Morris International were worth $469,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PM. Willingdon Wealth Management increased its holdings in Philip Morris International by 0.9% during the 2nd quarter. Willingdon Wealth Management now owns 13,656 shares of the company’s stock worth $1,072,000 after purchasing an additional 119 shares in the last quarter. Brand Asset Management Group Inc. lifted 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. Capital City Trust Co. FL lifted its position in Philip Morris International by 1.1% during the second quarter. Capital City Trust Co. FL now owns 11,041 shares of the company’s stock worth $867,000 after acquiring an additional 125 shares during the last quarter. First Command Financial Services Inc. lifted its position in Philip Morris International by 5.0% during the third quarter. First Command Financial Services Inc. now owns 2,611 shares of the company’s stock worth $198,000 after acquiring an additional 125 shares during the last quarter. Finally, MCF Advisors LLC lifted its position in Philip Morris International by 26.7% during the second quarter. MCF Advisors LLC now owns 603 shares of the company’s stock worth $47,000 after acquiring an additional 127 shares during the last quarter. Institutional investors and hedge funds own 74.16% of the company’s stock.

Several equities research analysts have issued reports on the stock. Wells Fargo & Co cut their price objective 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. Stifel Nicolaus restated a “buy” rating on shares of Philip Morris International in a research report on Tuesday, October 15th. Citigroup cut their price objective on shares of Philip Morris International from $110.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Bank of America upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and set a $96.00 price objective for the company in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. set a $86.00 price objective on shares of Philip Morris International and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. One investment 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’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $92.50.

Shares of NYSE PM traded up $0.07 during midday trading on Tuesday, reaching $81.87. The company’s stock had a trading volume of 363,929 shares, compared to its average volume of 6,633,457. Philip Morris International Inc. has a fifty-two week low of $64.67 and a fifty-two week high of $92.74. The business’s 50 day moving average price is $75.36 and its two-hundred day moving average price is $80.62. The company has a market cap of $125.32 billion, a P/E ratio of 16.05, a P/E/G ratio of 1.96 and a beta of 1.00.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Thursday, October 17th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.08. The business had revenue of $7.64 billion for the quarter, compared to analysts’ expectations of $7.65 billion. Philip Morris International had a net margin of 9.59% and a negative return on equity of 82.33%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the firm posted $1.44 earnings per share. Sell-side analysts anticipate that Philip Morris International Inc. will post 5.23 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Wednesday, September 25th were paid a $1.17 dividend. This represents a $4.68 dividend on an annualized basis and a yield of 5.72%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.14. The ex-dividend date was Tuesday, September 24th. Philip Morris International’s dividend payout ratio (DPR) is 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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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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