Rock Creek Group LP grew its position in Philip Morris International Inc. (NYSE:PM) by 44.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,639 shares of the company’s stock after acquiring an additional 816 shares during the quarter. Rock Creek Group LP’s holdings in Philip Morris International were worth $262,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Lumature Wealth Partners LLC acquired a new position in Philip Morris International in the 1st quarter worth about $26,000. Providence Capital Advisors LLC acquired a new position in Philip Morris International in the 1st quarter worth about $27,000. Centiva Capital LP increased its holdings in shares of Philip Morris International by 152.2% during the 1st quarter. Centiva Capital LP now owns 13,600 shares of the company’s stock valued at $30,000 after acquiring an additional 8,208 shares during the last quarter. Evolution Wealth Advisors LLC increased its holdings in shares of Philip Morris International by 179.1% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 307 shares of the company’s stock valued at $30,000 after acquiring an additional 197 shares during the last quarter. Finally, Regency Capital Management Inc. DE acquired a new position in shares of Philip Morris International during the 1st quarter valued at about $32,000. 75.05% of the stock is currently owned by institutional investors.
PM has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on Philip Morris International from $114.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, August 19th. Morgan Stanley reissued a “buy” rating and set a $110.00 price objective on shares of Philip Morris International in a report on Friday, July 2nd. TheStreet raised Philip Morris International from a “c+” rating to a “b” rating in a report on Tuesday, July 20th. Barclays set a $98.59 price objective on Philip Morris International and gave the company an “overweight” rating in a report on Friday, July 23rd. Finally, Piper Sandler increased their price objective on Philip Morris International from $111.00 to $114.00 and gave the company an “overweight” rating in a report on Friday, June 11th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $102.20.
Philip Morris International stock opened at $101.96 on Wednesday. The company has a market capitalization of $158.91 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 1.96 and a beta of 0.84. Philip Morris International Inc. has a one year low of $68.93 and a one year high of $106.51. The business has a 50 day simple moving average of $100.72 and a 200 day simple moving average of $96.37.
Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Monday, July 19th. The company reported $1.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.55 by $0.02. Philip Morris International had a negative return on equity of 91.56% and a net margin of 11.13%. The firm had revenue of $7.84 billion during the quarter, compared to the consensus estimate of $7.71 billion. During the same quarter in the previous year, the company posted $1.29 EPS. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Philip Morris International Inc. will post 6.06 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 14th. Shareholders of record on Wednesday, September 29th will be given a $1.25 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.20. The ex-dividend date is Tuesday, September 28th. This represents a $5.00 annualized dividend and a yield of 4.90%. Philip Morris International’s payout ratio is presently 92.84%.
Philip Morris International announced that its board has approved a stock buyback plan on Friday, June 11th that permits the company to repurchase $7.00 billion in shares. This repurchase authorization permits the company to purchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.
About Philip Morris International
Philip Morris International, Inc is a holding company. It engages in manufacturing and sale of cigarettes, tobacco and nicotine-containing products. It operates through the following geographical segments: European Union, Eastern Europe, Middles East & Africa, South & Southeast Asia, East Asia & Australia and Latin America & Canada.
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