Farr Miller & Washington LLC DC Buys 239 Shares of Philip Morris International Inc. (NYSE:PM)

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.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Monday, July 19th. The company reported $1.57 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $7.84 billion for the quarter, compared to analysts’ expectations of $7.71 billion. During the same period in the previous year, the business posted $1.29 EPS. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. As a group, sell-side analysts expect that Philip Morris International Inc. will post 6.02 earnings per share for the current year.

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.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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