Palisade Capital Management LLC NJ Boosts Stock Position in Philip Morris International Inc. (NYSE:PM)


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Palisade Capital Management LLC NJ grew its holdings in Philip Morris International Inc. (NYSE:PM) by 0.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,800 shares of the company’s stock after buying an additional 250 shares during the quarter. Palisade Capital Management LLC NJ’s holdings in Philip Morris International were worth $2,219,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Sterling Financial Planning Inc. purchased a new stake in shares of Philip Morris International during the fourth quarter worth approximately $26,000. Key Financial Inc purchased a new stake in Philip Morris International in the 4th quarter valued at $31,000. Jeppson Wealth Management LLC purchased a new stake in Philip Morris International in the 3rd quarter valued at $33,000. Aua Capital Management LLC purchased a new stake in Philip Morris International in the 3rd quarter valued at $34,000. Finally, Clearview Wealth Advisors LLC purchased a new stake in Philip Morris International in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 74.18% of the company’s stock.

Several equities analysts have recently commented on PM shares. Stifel Nicolaus upped their price target on Philip Morris International from $90.00 to $100.00 in a research note on Friday, February 5th. Sanford C. Bernstein started coverage on Philip Morris International in a research note on Tuesday, January 19th. They issued a “market perform” rating and a $92.00 price target on the stock. Piper Sandler upped their price target on Philip Morris International from $98.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, November 18th. UBS Group lowered Philip Morris International from a “buy” rating to a “neutral” rating and decreased their price target for the company from $90.00 to $80.00 in a research note on Monday, November 23rd. Finally, Zacks Investment Research upgraded Philip Morris International from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a report on Tuesday, January 12th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $96.83.

PM opened at $86.16 on Monday. Philip Morris International Inc. has a one year low of $56.01 and a one year high of $88.19. The company has a market cap of $134.19 billion, a P/E ratio of 17.44, a PEG ratio of 2.27 and a beta of 0.77. The business’s 50-day simple moving average is $83.44 and its 200-day simple moving average is $79.75.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, February 4th. The company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.05. Philip Morris International had a negative return on equity of 78.02% and a net margin of 10.07%. The business had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter in the prior year, the business posted $1.22 EPS. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. Analysts forecast that Philip Morris International Inc. will post 5.13 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 9th. Stockholders of record on Monday, March 22nd will be issued a $1.20 dividend. The ex-dividend date of this dividend is Friday, March 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 5.57%. Philip Morris International’s payout ratio is currently 92.49%.

In other news, VP Marian Salzman sold 2,000 shares of the stock in a transaction dated Friday, February 5th. The stock was sold at an average price of $84.39, for a total value of $168,780.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate 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.

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

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