Alethea Capital Management LLC purchased a new stake in Philip Morris International Inc. (NYSE:PM) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 28,287 shares of the company’s stock, valued at approximately $2,500,000. Philip Morris International accounts for 1.8% of Alethea Capital Management LLC’s portfolio, making the stock its 5th largest holding.
A number of other large investors also recently made changes to their positions in PM. Oregon Public Employees Retirement Fund grew its position in Philip Morris International by 6,541.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,319,091 shares of the company’s stock valued at $170,000 after acquiring an additional 11,148,661 shares during the period. BlackRock Inc. boosted its stake in Philip Morris International by 5.1% in the fourth quarter. BlackRock Inc. now owns 95,049,723 shares of the company’s stock worth $6,345,520,000 after purchasing an additional 4,576,645 shares in the last quarter. Deutsche Bank AG boosted its stake in Philip Morris International by 50.5% in the fourth quarter. Deutsche Bank AG now owns 11,054,233 shares of the company’s stock worth $737,970,000 after purchasing an additional 3,710,763 shares in the last quarter. Two Sigma Advisers LP boosted its stake in Philip Morris International by 168.1% in the fourth quarter. Two Sigma Advisers LP now owns 3,936,832 shares of the company’s stock worth $262,823,000 after purchasing an additional 2,468,400 shares in the last quarter. Finally, Flossbach Von Storch AG boosted its stake in Philip Morris International by 15.3% in the fourth quarter. Flossbach Von Storch AG now owns 18,204,516 shares of the company’s stock worth $1,215,333,000 after purchasing an additional 2,419,260 shares in the last quarter. Hedge funds and other institutional investors own 73.52% of the company’s stock.
In other Philip Morris International news, insider Mario Masseroli sold 1,200 shares of the stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $84.32, for a total value of $101,184.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Louis C. Camilleri sold 70,000 shares of the 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. Insiders have bought 4,000 shares of company stock worth $331,705 in the last ninety days. 0.21% of the stock is currently owned by insiders.
Shares of PM opened at $77.21 on Thursday. Philip Morris International Inc. has a 12-month low of $64.67 and a 12-month high of $92.74. The firm has a market cap of $120.53 billion, a PE ratio of 15.14, a PEG ratio of 1.85 and a beta of 0.97.
Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, April 18th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.10. Philip Morris International had a negative return on equity of 78.74% and a net margin of 9.74%. The business had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.76 billion. During the same quarter in the prior year, the firm posted $1.00 earnings per share. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. Analysts forecast that Philip Morris International Inc. will post 5.14 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 21st will be paid a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 5.91%. The ex-dividend date is Thursday, June 20th. Philip Morris International’s dividend payout ratio (DPR) is presently 89.41%.
A number of research firms have commented on PM. Citigroup boosted their price objective on Philip Morris International from $90.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. ValuEngine raised Philip Morris International from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Bank of America reissued a “sell” rating and issued a $74.00 price objective on shares of Philip Morris International in a research note on Tuesday, March 26th. Zacks Investment Research lowered Philip Morris International from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. Finally, UBS Group raised Philip Morris International from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $86.00 to $101.00 in a research note on Wednesday, February 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $92.57.
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Philip Morris International 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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