Investment Firms Increase Holdings in PMI

PMI by 2FIRSTS.ai

Jan.29.2024

Investment Firms Increase Holdings in PMI

Fort Washington Investment Advisors Inc. increased its stake in Swiss Philip Morris International Inc. in Q3, now holding 1,895,014 shares.

According to a report by media outlet Modern Readers on November 28th, the investment advisory firm Fort Washington Investment Advisors Inc. OH, based in Ohio, increased its holdings of Swiss company Philip Morris International (PMI) in the third quarter. The firm purchased 8,020 shares, bringing its total stake to 1,895,014 shares.

According to documents filed with the US Securities and Exchange Commission, the Washington-based investment advisory firm currently holds 0.12% of the total outstanding shares of Philip Morris International, valued at approximately $175.44 million. Furthermore, Financial Gravity Asset Management Inc. purchased shares of Philip Morris International worth about $753,000 in the second quarter. Other companies such as PCA Investment Advisory Services, Spotlight Asset Group, DHJJ Financial Advisors Ltd., and Legacy Financial Group LLC acquired new shares of Philip Morris International in the second and third quarters, with a total investment of $136,000. Currently, institutional investors and hedge funds collectively own approximately 79.70% of the company's shares.

The stock price of Philip Morris International dropped by $0.36 to $90.85 during last Friday's trading. The stock has fluctuated between $87.23 and $105.62 over the past year. The company has a market capitalization of $141.044 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 2.44, and a Beta of 0.67. Recently, the company announced a quarterly dividend, with shareholders of record receiving $1.30 per share on Wednesday, January 10th. This dividend represents an annual payout of $5.20 per share and a dividend yield of 5.72%. The dividend payout ratio (DPR) for Philip Morris International is 100.97%.

Philip Morris International is dedicated to promoting a smoke-free future and is engaged in long-term business ventures beyond the tobacco and nicotine industry.

References:

[1] Philip Morris International Inc. (NYSE:PM) Shares Purchased by Fort Washington Investment Advisors Inc. OH

Also Read:

[1] UBS Analysts Downgrade PMI's Rating to "Sell"

#North America #United States #Traditional tobacco #Market #PMI #Major companies

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