Mengis Capital Management Inc. Raises Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Mengis Capital Management Inc. grew its position in shares of Philip Morris International Inc. (NYSE:PMFree Report) by 13.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 44,249 shares of the company’s stock after acquiring an additional 5,172 shares during the period. Philip Morris International accounts for approximately 0.9% of Mengis Capital Management Inc.’s holdings, making the stock its 26th largest holding. Mengis Capital Management Inc.’s holdings in Philip Morris International were worth $4,097,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new position in Philip Morris International during the 3rd quarter valued at $27,000. PCA Investment Advisory Services Inc. bought a new position in Philip Morris International in the second quarter worth about $27,000. DHJJ Financial Advisors Ltd. purchased a new stake in Philip Morris International in the third quarter worth about $36,000. Spotlight Asset Group Inc. bought a new position in Philip Morris International during the 2nd quarter valued at approximately $37,000. Finally, Legacy Financial Group LLC bought a new stake in Philip Morris International in the third quarter worth $37,000. Institutional investors own 79.70% of the company’s stock.

Philip Morris International Price Performance

Shares of NYSE:PM traded up $0.88 during mid-day trading on Monday, reaching $90.00. 4,021,774 shares of the company traded hands, compared to its average volume of 4,984,011. Philip Morris International Inc. has a 52 week low of $87.23 and a 52 week high of $103.79. The firm has a market cap of $139.72 billion, a PE ratio of 17.93, a PEG ratio of 2.45 and a beta of 0.63. The company’s 50 day moving average price is $93.14 and its 200-day moving average price is $93.46.

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

Philip Morris International Dividend Announcement

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

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, insider Wilde Frederic De sold 10,000 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $94.25, for a total transaction of $942,500.00. Following the completion of the transaction, the insider now owns 198,447 shares of the company’s stock, valued at approximately $18,703,629.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PM. JPMorgan Chase & Co. upped their price target on shares of Philip Morris International from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 29th. UBS Group lowered Philip Morris International from a “buy” rating to a “sell” rating and reduced their target price for the stock from $105.00 to $86.50 in a report on Tuesday, January 23rd. Finally, Redburn Atlantic started coverage on Philip Morris International in a report on Thursday, November 16th. They set a “neutral” rating and a $95.00 price target 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 has a consensus rating of “Moderate Buy” and an average target price of $107.39.

Get Our Latest Stock Analysis on PM

Philip Morris International Company 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.

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

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