Farr Miller & Washington LLC DC lifted its holdings in Philip Morris International Inc. (NYSE:PM) by 8.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,961 shares of the company’s stock after purchasing an additional 239 shares during the quarter. Farr Miller & Washington LLC DC’s holdings in Philip Morris International were worth $263,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in PM. Better Money Decisions LLC acquired a new position in shares of Philip Morris International in the first quarter valued at $26,000. Lumature Wealth Partners LLC acquired a new stake in Philip Morris International during the first quarter worth about $26,000. Grant Street Asset Management Inc. acquired a new stake in Philip Morris International during the fourth quarter worth about $27,000. Providence Capital Advisors LLC acquired a new stake in Philip Morris International in the 1st quarter valued at $27,000. Finally, Centiva Capital LP grew its position in Philip Morris International by 152.2% in the 1st quarter. Centiva Capital LP now owns 13,600 shares of the company’s stock valued at $30,000 after purchasing an additional 8,208 shares during the period. 74.68% of the stock is currently owned by institutional investors and hedge funds.
NYSE PM opened at $96.54 on Thursday. The company has a market cap of $150.46 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 1.82 and a beta of 0.83. Philip Morris International Inc. has a one year low of $68.93 and a one year high of $100.95. The business’s fifty day simple moving average is $98.29.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 12th. Investors of record on Friday, June 25th were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date of this dividend was Thursday, June 24th. Philip Morris International’s dividend payout ratio is currently 92.84%.
Philip Morris International declared that its board has authorized a share buyback plan on Friday, June 11th that authorizes the company to buyback $7.00 billion in shares. This buyback authorization authorizes the company to buy up to 4.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
Several equities analysts have weighed in on PM shares. Barclays raised their price objective on Philip Morris International from $103.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, April 22nd. Zacks Investment Research cut Philip Morris International from a “buy” rating to a “hold” rating and set a $99.00 price objective on the stock. in a research note on Tuesday, April 27th. TheStreet upgraded Philip Morris International from a “c+” rating to a “b” rating in a research note on Tuesday. Morgan Stanley restated a “buy” rating and set a $110.00 price objective on shares of Philip Morris International in a research note on Friday, July 2nd. Finally, Piper Sandler raised their price objective on Philip Morris International from $111.00 to $114.00 and gave the company an “overweight” rating in a research note on Friday, June 11th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $100.92.
In other Philip Morris International news, insider Wilde Frederic De sold 10,000 shares of Philip Morris International stock in a transaction dated Monday, May 24th. The stock was sold at an average price of $97.76, for a total transaction of $977,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mario Masseroli sold 1,734 shares of Philip Morris International stock in a transaction dated Monday, May 10th. The shares were sold at an average price of $98.31, for a total value of $170,469.54. The disclosure for this sale can be found here. Insiders sold a total of 32,800 shares of company stock worth $3,139,017 over the last 90 days. 0.21% of the stock is currently owned by company insiders.
Philip Morris International Profile
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.
Recommended Story: S&P 500 Index
Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM).
Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.