ValuEngine Upgrades Philip Morris International (NYSE:PM) to Hold
A number of other analysts also recently issued reports on PM. Morgan Stanley set a $207.00 price target on Alibaba Group and gave the stock a buy rating in a research report on Friday, July 12th. Societe Generale upgraded Philip Morris International from a hold rating to a buy rating in a research report on Tuesday, May 7th. Citigroup raised their price target on Philip Morris International from $90.00 to $102.00 and gave the stock a buy rating in a research report on Monday, March 25th. Zacks Investment Research upgraded Investors Real Estate Trust Reit from a sell rating to a hold rating in a research report on Thursday, May 23rd. Finally, Bank of America set a $120.00 target price on Walmart and gave the stock a buy rating in a research report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. Philip Morris International currently has an average rating of Buy and an average price target of $93.00.
Shares of PM opened at $88.73 on Thursday. Philip Morris International has a 1 year low of $64.67 and a 1 year high of $92.74. The firm’s 50 day moving average is $79.17. The stock has a market cap of $138.05 billion, a price-to-earnings ratio of 17.40, a P/E/G ratio of 2.20 and a beta of 0.96.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Friday, June 21st were paid a dividend of $1.14 per share. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $4.56 annualized dividend and a dividend yield of 5.14%. Philip Morris International’s dividend payout ratio is currently 89.41%.
In related news, VP Michael R. Kunst bought 2,500 shares of the business’s stock in a transaction on Monday, April 29th. The shares were bought at an average price of $84.67 per share, for a total transaction of $211,675.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Louis C. Camilleri sold 70,000 shares of Philip Morris International stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $83.54, for a total value of $5,847,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 4,000 shares of company stock worth $331,705. Insiders own 0.21% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in shares of Philip Morris International by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 18,724,587 shares of the company’s stock worth $1,247,824,000 after acquiring an additional 1,298,116 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Philip Morris International by 50.5% during the fourth quarter. Deutsche Bank AG now owns 11,054,233 shares of the company’s stock worth $737,970,000 after acquiring an additional 3,710,763 shares during the last quarter. Veritas Asset Management LLP grew its stake in shares of Philip Morris International by 1.2% during the first quarter. Veritas Asset Management LLP now owns 6,548,888 shares of the company’s stock worth $578,856,000 after acquiring an additional 80,375 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Philip Morris International by 1.1% during the fourth quarter. Legal & General Group Plc now owns 6,532,959 shares of the company’s stock worth $436,140,000 after acquiring an additional 72,203 shares during the last quarter. Finally, American International Group Inc. grew its stake in shares of Philip Morris International by 12.0% during the fourth quarter. American International Group Inc. now owns 5,331,441 shares of the company’s stock worth $355,927,000 after acquiring an additional 570,889 shares during the last quarter. Institutional investors own 73.46% of the company’s stock.
Philip Morris International Company 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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