Mengis Capital Management Inc. Boosts Stake in Philip Morris International Inc. (NYSE:PM)

Mengis Capital Management Inc. lifted its holdings in shares of Philip Morris International Inc. (NYSE:PMFree Report) by 13.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,249 shares of the company’s stock after purchasing an additional 5,172 shares during the period. Philip Morris International comprises approximately 0.9% of Mengis Capital Management Inc.’s holdings, making the stock its 26th biggest holding. Mengis Capital Management Inc.’s holdings in Philip Morris International were worth $4,097,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cetera Advisor Networks LLC lifted its position in shares of Philip Morris International by 10.4% during the second quarter. Cetera Advisor Networks LLC now owns 213,136 shares of the company’s stock worth $20,806,000 after purchasing an additional 20,104 shares in the last quarter. Aspen Grove Capital LLC increased its position in shares of Philip Morris International by 13.0% in the 2nd quarter. Aspen Grove Capital LLC now owns 4,756 shares of the company’s stock worth $470,000 after purchasing an additional 547 shares during the last quarter. Berger Financial Group Inc lifted its position in shares of Philip Morris International by 3.0% during the second quarter. Berger Financial Group Inc now owns 3,902 shares of the company’s stock worth $381,000 after purchasing an additional 113 shares during the last quarter. Cetera Investment Advisers boosted its position in Philip Morris International by 1.5% during the 2nd quarter. Cetera Investment Advisers now owns 120,894 shares of the company’s stock valued at $11,802,000 after purchasing an additional 1,764 shares during the period. Finally, Elevated Capital Advisors LLC grew its position in shares of Philip Morris International by 2.8% during the second quarter. Elevated Capital Advisors LLC now owns 17,016 shares of the company’s stock worth $1,661,000 after acquiring an additional 471 shares during the last quarter. Hedge funds and other institutional investors own 79.70% of the company’s stock.

Insider Activity

In other Philip Morris International news, insider Wilde Frederic De sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $94.25, for a total value of $942,500.00. Following the transaction, the insider now owns 198,447 shares in the company, valued at $18,703,629.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. UBS Group cut Philip Morris International from a “buy” rating to a “sell” rating and dropped their target price for the stock from $105.00 to $86.50 in a report on Tuesday, January 23rd. JPMorgan Chase & Co. lifted their price target on shares of Philip Morris International from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, November 29th. Finally, Redburn Atlantic started coverage on Philip Morris International in a research report on Thursday, November 16th. They set a “neutral” rating and a $95.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $107.39.

Check Out Our Latest Report on PM

Philip Morris International Trading Up 1.0 %

Shares of PM stock traded up $0.88 on Monday, hitting $90.00. The stock had a trading volume of 4,021,774 shares, compared to its average volume of 4,984,011. The firm has a market cap of $139.72 billion, a P/E ratio of 17.93, a PEG ratio of 2.45 and a beta of 0.63. The company has a fifty day moving average price of $93.14 and a two-hundred day moving average price of $93.46. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $103.79.

Philip Morris International (NYSE:PMGet Free Report) last issued its earnings results on Thursday, February 8th. The company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.08). The business had revenue of $9.05 billion for the quarter, compared to the consensus estimate of $8.99 billion. Philip Morris International had a negative return on equity of 116.29% and a net margin of 10.80%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.39 earnings per share. On average, analysts expect that Philip Morris International Inc. will post 6.39 earnings per share for the current year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Thursday, December 21st were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Wednesday, December 20th. This represents a $5.20 annualized dividend and a yield of 5.78%. Philip Morris International’s dividend payout ratio is presently 103.59%.

Philip Morris International Profile

(Free Report)

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.

Further Reading

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

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