Cigna Investments Inc. New boosted its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 3.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,078 shares of the company’s stock after purchasing an additional 1,674 shares during the quarter. Cigna Investments Inc. New’s holdings in Philip Morris International were worth $4,976,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Sterling Financial Planning Inc. purchased a new position in Philip Morris International in the fourth quarter worth about $26,000. Better Money Decisions LLC purchased a new position in shares of Philip Morris International in the 1st quarter worth approximately $26,000. Perennial Advisors LLC bought a new position in shares of Philip Morris International during the 4th quarter valued at approximately $27,000. Grant Street Asset Management Inc. purchased a new stake in Philip Morris International during the 4th quarter valued at $27,000. Finally, Key Financial Inc bought a new stake in Philip Morris International in the fourth quarter worth $31,000. Institutional investors and hedge funds own 73.03% of the company’s stock.
Shares of NYSE PM traded down $0.21 during midday trading on Thursday, reaching $97.10. 22,777 shares of the company’s stock traded hands, compared to its average volume of 4,613,326. The company has a market cap of $151.33 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 1.84 and a beta of 0.82. The stock’s 50 day simple moving average is $94.77 and its 200-day simple moving average is $85.98. Philip Morris International Inc. has a one year low of $68.37 and a one year high of $98.62.
Philip Morris International (NYSE:PM) last posted its earnings results on Monday, April 19th. The company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.17. The company had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.33 billion. Philip Morris International had a negative return on equity of 85.06% and a net margin of 11.20%. Philip Morris International’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.21 earnings per share. Equities analysts predict that Philip Morris International Inc. will post 6.08 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, April 9th. Shareholders of record on Monday, March 22nd were issued a $1.20 dividend. The ex-dividend date was Friday, March 19th. This represents a $4.80 dividend on an annualized basis and a yield of 4.94%. Philip Morris International’s dividend payout ratio is presently 92.84%.
In other Philip Morris International news, insider Stacey Kennedy sold 10,570 shares of the firm’s stock in a transaction dated Wednesday, April 21st. The stock was sold at an average price of $94.28, for a total value of $996,539.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Wilde Frederic De sold 10,000 shares of the business’s stock in a transaction dated Monday, May 24th. The stock was sold at an average price of $97.76, for a total value of $977,600.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,370 shares of company stock valued at $4,135,557. Insiders own 0.21% of the company’s stock.
A number of analysts recently weighed in on the stock. Barclays increased their price objective on shares of Philip Morris International from $103.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, April 22nd. Zacks Investment Research lowered Philip Morris International from a “buy” rating to a “hold” rating and set a $99.00 price target for the company. in a research note on Tuesday, April 27th. JPMorgan Chase & Co. raised Philip Morris International from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $81.00 to $105.00 in a research report on Thursday, April 15th. Stifel Nicolaus lifted their target price on Philip Morris International from $90.00 to $100.00 in a research report on Friday, February 5th. Finally, Morgan Stanley upped their price target on shares of Philip Morris International from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, May 12th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $100.62.
Philip Morris International Profile
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 Creations, HEETS Dimensions, HEETS Marlboro, HEETS FROM MARLBORO, Marlboro Dimensions, Marlboro HeatSticks, and Parliament HeatSticks brands, as well as under the Fiit and Miix licensed brands.
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