River & Mercantile Asset Management LLP Takes $32,000 Position in Philip Morris International Inc. (NYSE:PM)

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River & Mercantile Asset Management LLP purchased a new stake in shares of Philip Morris International Inc. (NYSE:PM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 402 shares of the company’s stock, valued at approximately $32,000.

A number of other large investors also recently added to or reduced their stakes in PM. Titan Capital Management LLC CA bought a new position in Philip Morris International in the second quarter valued at approximately $30,000. Manchester Financial Inc. bought a new position in Philip Morris International in the second quarter valued at approximately $36,000. Brand Asset Management Group Inc. grew its stake in Philip Morris International by 34.9% in the second quarter. Brand Asset Management Group Inc. now owns 472 shares of the company’s stock valued at $37,000 after purchasing an additional 122 shares in the last quarter. Prestige Wealth Management Group LLC bought a new position in Philip Morris International in the second quarter valued at approximately $38,000. Finally, HMS Capital Management LLC bought a new position in Philip Morris International in the second quarter valued at approximately $46,000. 74.11% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on the company. Morgan Stanley decreased their price target on Philip Morris International from $94.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Credit Suisse Group set a $80.00 price objective on Philip Morris International and gave the company a “sell” rating in a research report on Wednesday, August 28th. ValuEngine cut Philip Morris International from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a research report on Wednesday, September 4th. Finally, Bank of America raised Philip Morris International from a “neutral” rating to a “buy” rating and set a $96.00 price objective for the company in a research report on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. Philip Morris International presently has a consensus rating of “Hold” and an average price target of $93.92.

PM opened at $77.95 on Friday. Philip Morris International Inc. has a 12-month low of $64.67 and a 12-month high of $92.74. The stock has a market cap of $120.50 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.90 and a beta of 1.00. The business has a 50 day moving average of $74.89 and a 200-day moving average of $81.07.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, July 18th. The company reported $1.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.13. The business had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.42 billion. Philip Morris International had a negative return on equity of 80.96% and a net margin of 10.03%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the firm posted $1.41 EPS. As a group, analysts forecast that Philip Morris International Inc. will post 5.2 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Wednesday, September 25th were issued a dividend of $1.17 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.14. This represents a $4.68 annualized dividend and a yield of 6.00%. The ex-dividend date of this dividend was Tuesday, September 24th. Philip Morris International’s dividend payout ratio (DPR) is presently 91.76%.

In related news, insider Mario Masseroli sold 1,100 shares of Philip Morris International stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $87.42, for a total transaction of $96,162.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.21% of the company’s stock.

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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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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