Elevated Capital Advisors LLC bought a new position in Philip Morris International Inc. (NYSE:PM) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 12,159 shares of the company’s stock, valued at approximately $972,000.
Other large investors have also added to or reduced their stakes in the company. First Foundation Advisors boosted its stake in Philip Morris International by 29.2% in the 1st quarter. First Foundation Advisors now owns 335,949 shares of the company’s stock worth $24,511,000 after purchasing an additional 75,841 shares in the last quarter. Courier Capital LLC boosted its stake in Philip Morris International by 39.6% in the 2nd quarter. Courier Capital LLC now owns 3,877 shares of the company’s stock worth $273,000 after purchasing an additional 1,100 shares in the last quarter. Colony Group LLC boosted its stake in Philip Morris International by 6.5% in the 1st quarter. Colony Group LLC now owns 83,601 shares of the company’s stock worth $6,100,000 after purchasing an additional 5,133 shares in the last quarter. First Interstate Bank boosted its stake in Philip Morris International by 111.3% in the 2nd quarter. First Interstate Bank now owns 7,504 shares of the company’s stock worth $526,000 after purchasing an additional 3,953 shares in the last quarter. Finally, New Mexico Educational Retirement Board boosted its stake in Philip Morris International by 6.9% in the 2nd quarter. New Mexico Educational Retirement Board now owns 104,711 shares of the company’s stock worth $7,336,000 after purchasing an additional 6,800 shares in the last quarter. 73.98% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently issued reports on the stock. Piper Sandler reiterated a “buy” rating and issued a $98.00 price target on shares of Philip Morris International in a research note on Tuesday, August 4th. Stifel Nicolaus upped their target price on shares of Philip Morris International from $85.00 to $90.00 in a research note on Wednesday, July 22nd. ValuEngine cut shares of Philip Morris International from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Citigroup reaffirmed a “hold” rating and issued a $75.00 target price on shares of Philip Morris International in a research report on Tuesday, June 30th. Finally, Bank of America increased their price target on Philip Morris International from $90.00 to $92.00 and gave the company a “buy” rating in a report on Friday, September 11th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $89.75.
Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.19. The business had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $6.54 billion. Philip Morris International had a net margin of 9.54% and a negative return on equity of 80.24%. The company’s revenue for the quarter was down 13.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.46 earnings per share. As a group, analysts anticipate that Philip Morris International Inc. will post 5.06 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Thursday, September 24th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 5.96%. The ex-dividend date is Wednesday, September 23rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.17. Philip Morris International’s dividend payout ratio is presently 90.17%.
In other news, Director Louis C. Camilleri sold 75,000 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $77.73, for a total value of $5,829,750.00. 0.22% of the stock is owned by company insiders.
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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