Mane Global Capital Management LP Has $20.39 Million Stock Position in Philip Morris International Inc. $PM

Mane Global Capital Management LP lowered its position in Philip Morris International Inc. (NYSE:PM) by 35.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,927 shares of the company’s stock after selling 62,412 shares during the quarter. Mane Global Capital Management LP’s holdings in Philip Morris International were worth $20,385,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PM. Legacy Investment Solutions LLC acquired a new position in Philip Morris International in the second quarter worth approximately $25,000. Traub Capital Management LLC acquired a new stake in Philip Morris International in the second quarter valued at approximately $25,000. Abound Wealth Management grew its position in Philip Morris International by 566.7% in the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after acquiring an additional 136 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA acquired a new position in shares of Philip Morris International during the 1st quarter worth $30,000. Finally, Briaud Financial Planning Inc raised its holdings in shares of Philip Morris International by 266.7% during the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock valued at $30,000 after purchasing an additional 120 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Stock Performance

Philip Morris International stock opened at $149.44 on Thursday. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69. The firm has a market capitalization of $232.63 billion, a PE ratio of 27.07, a PEG ratio of 1.79 and a beta of 0.42. The business’s 50-day simple moving average is $153.74 and its 200-day simple moving average is $165.63.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. The firm had revenue of $8.12 billion for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%. Research analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.9%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Friday, October 3rd. Philip Morris International’s payout ratio is presently 106.52%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PM. The Goldman Sachs Group reiterated a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. UBS Group decreased their price target on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research note on Friday, September 5th. JPMorgan Chase & Co. cut their price objective on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Finally, Stifel Nicolaus set a $180.00 price target on Philip Morris International in a report on Tuesday, October 21st. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $189.00.

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.