MCF Advisors LLC Buys 1,027 Shares of Philip Morris International Inc. (NYSE:PM)

MCF Advisors LLC raised its stake in shares of Philip Morris International Inc. (NYSE:PM) by 191.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,564 shares of the company’s stock after buying an additional 1,027 shares during the period. MCF Advisors LLC’s holdings in Philip Morris International were worth $155,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Capital International Investors grew its position in shares of Philip Morris International by 11.2% in the first quarter. Capital International Investors now owns 69,942,196 shares of the company’s stock valued at $6,206,961,000 after purchasing an additional 7,039,559 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Philip Morris International by 0.9% in the first quarter. Geode Capital Management LLC now owns 25,319,480 shares of the company’s stock valued at $2,241,459,000 after purchasing an additional 233,025 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Philip Morris International by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 20,559,586 shares of the company’s stock valued at $1,824,459,000 after purchasing an additional 325,321 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Philip Morris International by 8.8% in the first quarter. Ameriprise Financial Inc. now owns 18,402,643 shares of the company’s stock valued at $1,633,223,000 after purchasing an additional 1,480,697 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of Philip Morris International by 2.4% in the first quarter. Nuveen Asset Management LLC now owns 10,753,426 shares of the company’s stock valued at $954,259,000 after purchasing an additional 253,674 shares during the last quarter. Institutional investors own 75.05% of the company’s stock.

PM stock opened at $101.96 on Wednesday. The company has a 50 day moving average price of $100.72 and a 200 day moving average price of $96.37. Philip Morris International Inc. has a fifty-two week low of $68.93 and a fifty-two week high of $106.51. The stock has a market capitalization of $158.91 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 1.96 and a beta of 0.84.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Monday, July 19th. The company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.02. Philip Morris International had a net margin of 11.13% and a negative return on equity of 91.56%. The firm had revenue of $7.84 billion during the quarter, compared to analysts’ expectations of $7.71 billion. During the same quarter in the previous year, the company posted $1.29 EPS. Philip Morris International’s revenue was up 17.9% on a year-over-year basis. On average, equities research analysts anticipate that Philip Morris International Inc. will post 6.06 earnings per share for the current year.

Philip Morris International announced that its board has approved a share repurchase program on Friday, June 11th that allows the company to buyback $7.00 billion in shares. This buyback authorization allows the company to reacquire up to 4.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 14th. Shareholders of record on Wednesday, September 29th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date of this dividend is Tuesday, September 28th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.20. Philip Morris International’s payout ratio is currently 92.84%.

In other Philip Morris International news, CEO Martin G. King sold 21,725 shares of Philip Morris International stock in a transaction on Tuesday, July 27th. The shares were sold at an average price of $100.18, for a total transaction of $2,176,410.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.21% of the stock is currently owned by insiders.

A number of equities research analysts recently weighed in on PM shares. Deutsche Bank Aktiengesellschaft lifted their target price on Philip Morris International from $114.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, August 19th. Morgan Stanley reissued a “buy” rating and set a $110.00 target price on shares of Philip Morris International in a research report on Friday, July 2nd. Barclays set a $98.59 target price on Philip Morris International and gave the stock an “overweight” rating in a research report on Friday, July 23rd. TheStreet raised Philip Morris International from a “c+” rating to a “b” rating in a research report on Tuesday, July 20th. Finally, Piper Sandler lifted their target price on Philip Morris International from $111.00 to $114.00 and gave the stock an “overweight” rating in a research report on Friday, June 11th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $102.20.

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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