M&R Capital Management Inc. boosted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 12.9% during the second quarter, Holdings Channel reports. The institutional investor owned 8,748 shares of the company’s stock after buying an additional 1,000 shares during the period. M&R Capital Management Inc.’s holdings in Philip Morris International were worth $889,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. bought a new stake in shares of Philip Morris International during the second quarter valued at about $272,521,000. Vanguard Group Inc. raised its stake in Philip Morris International by 2.6% in the second quarter. Vanguard Group Inc. now owns 99,323,022 shares of the company’s stock worth $10,103,138,000 after buying an additional 2,501,571 shares during the last quarter. State Street Corp raised its stake in Philip Morris International by 3.3% in the first quarter. State Street Corp now owns 57,800,062 shares of the company’s stock worth $5,670,770,000 after buying an additional 1,821,500 shares during the last quarter. Bank of Montreal Can acquired a new stake in Philip Morris International during the second quarter worth $173,009,000. Finally, TIAA CREF Investment Management LLC raised its stake in Philip Morris International by 16.3% in the first quarter. TIAA CREF Investment Management LLC now owns 7,939,086 shares of the company’s stock worth $778,904,000 after buying an additional 1,111,511 shares during the last quarter. 71.22% of the stock is currently owned by hedge funds and other institutional investors.
Philip Morris International Inc. (NYSE:PM) opened at 96.02 on Monday. The company has a market cap of $148.96 billion, a price-to-earnings ratio of 22.97 and a beta of 0.95. The company’s 50-day moving average is $99.37 and its 200 day moving average is $99.71. Philip Morris International Inc. has a 52-week low of $83.27 and a 52-week high of $104.20.
Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, July 19th. The company reported $1.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.20 by $0.05. Philip Morris International had a negative return on equity of 57.28% and a net margin of 8.84%. The business earned $6.65 billion during the quarter, compared to analysts’ expectations of $6.77 billion. During the same period last year, the firm posted $1.21 EPS. Equities analysts forecast that Philip Morris International Inc. will post $4.51 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Wednesday, September 28th will be given a $1.04 dividend. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.02. The ex-dividend date is Monday, September 26th. This represents a $4.16 dividend on an annualized basis and a yield of 4.33%. Philip Morris International’s payout ratio is 99.52%.
PM has been the topic of a number of research reports. Goldman Sachs Group Inc. reissued a “buy” rating and set a $116.00 target price (up from $114.00) on shares of Philip Morris International in a report on Monday, October 3rd. Zacks Investment Research raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a report on Wednesday, October 5th. Morgan Stanley reissued an “overweight” rating and set a $110.00 target price on shares of Philip Morris International in a report on Tuesday, September 27th. Vetr raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $105.50 target price on the stock in a report on Monday, June 20th. Finally, Wells Fargo & Co. restated an “outperform” rating and issued a $115.00 price target on shares of Philip Morris International in a research report on Thursday, September 22nd. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $104.82.
About Philip Morris International
Philip Morris International Inc is a holding company engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. The Company’s products are sold in over 180 markets. Its segments include European Union; Eastern Europe, Middle East & Africa; Asia, and Latin America & Canada.
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