Joel Isaacson & Co. LLC Raises Stake in Philip Morris International Inc. (PM)
Joel Isaacson & Co. LLC lifted its position in shares of Philip Morris International Inc. (NYSE:PM) by 1.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 17,337 shares of the company’s stock after purchasing an additional 188 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in Philip Morris International were worth $1,532,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Essex Investment Management Co. LLC purchased a new position in Philip Morris International in the 4th quarter worth approximately $27,000. CX Institutional boosted its holdings in Philip Morris International by 432.1% in the 1st quarter. CX Institutional now owns 447 shares of the company’s stock worth $40,000 after acquiring an additional 363 shares during the period. Transamerica Financial Advisors Inc. boosted its holdings in Philip Morris International by 552.8% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 470 shares of the company’s stock worth $32,000 after acquiring an additional 398 shares during the period. Clean Yield Group purchased a new position in Philip Morris International in the 4th quarter worth approximately $37,000. Finally, Claybrook Capital LLC purchased a new position in Philip Morris International in the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 73.53% of the company’s stock.
Philip Morris International stock opened at $84.49 on Friday. The company has a market cap of $131.45 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 1.93 and a beta of 0.95. Philip Morris International Inc. has a 52 week low of $64.67 and a 52 week high of $94.26.
The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Tuesday, March 26th were given a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 5.40%. The ex-dividend date of this dividend was Monday, March 25th. Philip Morris International’s dividend payout ratio is currently 89.41%.
PM has been the subject of a number of analyst reports. ValuEngine upgraded Philip Morris International from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Bank of America restated a “sell” rating and issued a $74.00 price target on shares of Philip Morris International in a report on Tuesday, March 26th. Piper Jaffray Companies set a $100.00 target price on Philip Morris International and gave the company a “buy” rating in a research note on Friday, February 8th. Morgan Stanley increased their target price on Philip Morris International from $88.00 to $94.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, UBS Group upgraded Philip Morris International from a “neutral” rating to a “buy” rating and increased their target price for the company from $86.00 to $101.00 in a research note on Wednesday, February 27th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $92.43.
In related news, CEO Andre Calantzopoulos sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $84.76, for a total transaction of $4,238,000.00. Following the sale, the chief executive officer now directly owns 844,901 shares of the company’s stock, valued at approximately $71,613,808.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.
About Philip Morris International
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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