SP Asset Management Invests $5.99 Million in Philip Morris International Inc. (PM) Stock
SP Asset Management purchased a new position in shares of Philip Morris International Inc. (NYSE:PM) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 74,402 shares of the company’s stock, valued at approximately $5,992,000. Philip Morris International comprises 1.6% of SP Asset Management’s portfolio, making the stock its 17th biggest position.
A number of other large investors have also recently bought and sold shares of the business. Optimum Investment Advisors purchased a new stake in Philip Morris International during the 1st quarter worth approximately $100,000. Shine Investment Advisory Services Inc. increased its stake in Philip Morris International by 90.7% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 1,245 shares of the company’s stock worth $101,000 after buying an additional 592 shares during the period. Landaas & Co. WI ADV purchased a new stake in Philip Morris International during the 2nd quarter worth approximately $106,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Philip Morris International during the 2nd quarter worth approximately $108,000. Finally, Cordasco Financial Network increased its stake in Philip Morris International by 214.1% during the 2nd quarter. Cordasco Financial Network now owns 1,357 shares of the company’s stock worth $110,000 after buying an additional 925 shares during the period. Institutional investors own 72.73% of the company’s stock.
NYSE:PM remained flat at $$82.31 during trading hours on Friday. 6,304,455 shares of the company were exchanged, compared to its average volume of 6,064,199. Philip Morris International Inc. has a 12-month low of $76.21 and a 12-month high of $115.15. The firm has a market cap of $126.75 billion, a PE ratio of 16.70, a P/E/G ratio of 1.81 and a beta of 0.79. The company has a debt-to-equity ratio of -2.76, a quick ratio of 0.64 and a current ratio of 1.15.
The business also recently declared a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Wednesday, September 26th were issued a $1.14 dividend. The ex-dividend date of this dividend was Tuesday, September 25th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.54%. Philip Morris International’s dividend payout ratio is presently 92.49%.
A number of equities research analysts have commented on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $93.00 price objective on shares of Philip Morris International in a research report on Friday, July 13th. Morgan Stanley dropped their price objective on shares of Philip Morris International from $111.00 to $102.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 17th. Cowen downgraded shares of Philip Morris International from an “outperform” rating to a “market perform” rating and set a $97.00 target price on the stock. in a research report on Friday, July 20th. Citigroup set a $90.00 target price on shares of Philip Morris International and gave the company a “buy” rating in a research report on Friday, July 20th. Finally, Stifel Nicolaus dropped their target price on shares of Philip Morris International from $100.00 to $93.00 and set a “buy” rating on the stock in a research report on Friday, July 20th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $98.00.
Philip Morris International Profile
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.
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