Private Management Group Inc. Invests $9.86 Million in Philip Morris International Inc. $PM

Private Management Group Inc. acquired a new stake in Philip Morris International Inc. (NYSE:PM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 54,159 shares of the company’s stock, valued at approximately $9,864,000.

A number of other institutional investors have also added to or reduced their stakes in PM. Legacy Investment Solutions LLC acquired a new position in shares of Philip Morris International during the 2nd quarter worth about $25,000. Traub Capital Management LLC bought a new position in Philip Morris International during the second quarter worth about $25,000. Abound Wealth Management increased its position in Philip Morris International by 566.7% during the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after buying an additional 136 shares during the last quarter. Briaud Financial Planning Inc raised its stake in Philip Morris International by 266.7% in the second quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock valued at $30,000 after buying an additional 120 shares during the period. Finally, Kelly Lawrence W & Associates Inc. CA bought a new stake in Philip Morris International in the first quarter valued at approximately $30,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PM has been the topic of a number of recent analyst reports. Morgan Stanley set a $175.00 target price on Philip Morris International and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Barclays decreased their price objective on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday, November 17th. Citigroup restated a “buy” rating on shares of Philip Morris International in a research note on Thursday, September 4th. Wall Street Zen raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, November 17th. Finally, KGI Securities initiated coverage on shares of Philip Morris International in a report on Monday, August 4th. They issued an “outperform” rating on the stock. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $189.56.

Philip Morris International Stock Performance

Shares of Philip Morris International stock opened at $155.24 on Friday. The firm has a 50-day moving average of $156.42 and a 200-day moving average of $167.34. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69. The stock has a market cap of $241.65 billion, a PE ratio of 28.12, a PEG ratio of 1.83 and a beta of 0.43.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. The business had revenue of $8.12 billion during the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. Equities research analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.8%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, October 3rd. Philip Morris International’s dividend payout ratio is presently 106.52%.

About Philip Morris International

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.