Flagship Harbor Advisors LLC lifted its holdings in Philip Morris International Inc. (NYSE:PM – Get Rating) by 21.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 6,062 shares of the company’s stock after acquiring an additional 1,068 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Philip Morris International were worth $599,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Tcwp LLC bought a new stake in shares of Philip Morris International in the 1st quarter worth approximately $26,000. Bivin & Associates Inc. bought a new stake in Philip Morris International during the 4th quarter valued at $27,000. Sandy Cove Advisors LLC bought a new stake in Philip Morris International during the 1st quarter valued at $28,000. American National Bank raised its holdings in Philip Morris International by 89.1% during the 1st quarter. American National Bank now owns 312 shares of the company’s stock valued at $29,000 after buying an additional 147 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in Philip Morris International during the 1st quarter valued at $33,000. 76.00% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
PM has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Tuesday, July 26th. Jefferies Financial Group lowered their price target on shares of Philip Morris International from $107.00 to $99.00 in a report on Tuesday, July 19th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.13.
Philip Morris International Trading Down 0.7 %
Philip Morris International (NYSE:PM – Get Rating) last released its earnings results on Thursday, July 21st. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.24. The firm had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $6.76 billion. Philip Morris International had a net margin of 11.05% and a negative return on equity of 115.36%. The company’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.57 EPS. Analysts predict that Philip Morris International Inc. will post 5.99 EPS for the current fiscal year.
Philip Morris International Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 12th. Stockholders of record on Wednesday, September 28th will be given a $1.27 dividend. The ex-dividend date of this dividend is Tuesday, September 27th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.25. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.30%. Philip Morris International’s dividend payout ratio is currently 85.91%.
Philip Morris International Profile
Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products that are sold in markets outside the United States.
- Get a free copy of the StockNews.com research report on Philip Morris International (PM)
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