Atlantic Union Bankshares Corp lifted its position in shares of Philip Morris International Inc. (NYSE:PM) by 8.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,761 shares of the company’s stock after purchasing an additional 6,941 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Philip Morris International were worth $6,356,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. IFM Investors Pty Ltd grew its stake in shares of Philip Morris International by 44.9% during the 3rd quarter. IFM Investors Pty Ltd now owns 45,415 shares of the company’s stock worth $3,406,000 after purchasing an additional 14,079 shares during the period. Surevest LLC lifted its position in shares of Philip Morris International by 14.7% during the 3rd quarter. Surevest LLC now owns 37,510 shares of the company’s stock valued at $2,813,000 after buying an additional 4,805 shares in the last quarter. Sanders Morris Harris LLC purchased a new position in shares of Philip Morris International during the 3rd quarter valued at approximately $3,997,000. Evolution Wealth Advisors LLC lifted its position in shares of Philip Morris International by 322.2% during the 3rd quarter. Evolution Wealth Advisors LLC now owns 760 shares of the company’s stock valued at $57,000 after buying an additional 580 shares in the last quarter. Finally, Diversified Trust Co lifted its position in shares of Philip Morris International by 36.7% during the 3rd quarter. Diversified Trust Co now owns 17,846 shares of the company’s stock valued at $1,338,000 after buying an additional 4,792 shares in the last quarter. 73.98% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on PM. Citigroup upgraded Philip Morris International from a “neutral” rating to a “buy” rating and increased their target price for the company from $82.00 to $100.00 in a research report on Wednesday, October 7th. Stifel Nicolaus increased their target price on Philip Morris International from $85.00 to $90.00 in a research report on Wednesday, July 22nd. Bank of America increased their target price on Philip Morris International from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Friday, September 11th. Goldman Sachs Group increased their target price on Philip Morris International from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, September 23rd. Finally, Piper Sandler restated a “buy” rating and issued a $98.00 price objective on shares of Philip Morris International in a report on Tuesday, August 4th. Two analysts have rated the stock with a sell rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $93.50.
Shares of NYSE:PM traded up $0.13 during midday trading on Friday, reaching $79.27. 3,033,585 shares of the company’s stock were exchanged, compared to its average volume of 5,376,414. The firm’s 50 day simple moving average is $78.33 and its two-hundred day simple moving average is $75.09. The stock has a market cap of $123.45 billion, a price-to-earnings ratio of 16.94, a P/E/G ratio of 2.29 and a beta of 0.76. Philip Morris International Inc. has a fifty-two week low of $56.01 and a fifty-two week high of $90.17.
Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.19. The firm had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $6.54 billion. Philip Morris International had a negative return on equity of 80.24% and a net margin of 9.54%. The company’s quarterly revenue was down 13.6% on a year-over-year basis. During the same period last year, the company earned $1.46 EPS. On average, analysts expect that Philip Morris International Inc. will post 5.06 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 13th. Shareholders of record on Thursday, September 24th were given a $1.20 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.17. This represents a $4.80 annualized dividend and a yield of 6.06%. The ex-dividend date was Wednesday, September 23rd. Philip Morris International’s payout ratio is currently 92.49%.
In other Philip Morris International news, Director Louis C. Camilleri sold 75,000 shares of Philip Morris International stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $77.73, for a total value of $5,829,750.00. Insiders own 0.22% of the company’s stock.
About Philip Morris International
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, 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.
Recommended Story: Market Perform
Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.