Principle Wealth Partners LLC lifted its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 33.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,388 shares of the company’s stock after buying an additional 2,108 shares during the period. Principle Wealth Partners LLC’s holdings in Philip Morris International were worth $637,000 at the end of the most recent reporting period.
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Other hedge funds have also modified their holdings of the company. Titan Capital Management LLC CA acquired a new stake in shares of Philip Morris International in the 2nd quarter worth approximately $30,000. Strategic Blueprint LLC acquired a new stake in shares of Philip Morris International in the 3rd quarter worth approximately $30,000. River & Mercantile Asset Management LLP acquired a new stake in shares of Philip Morris International in the 2nd quarter worth approximately $32,000. Manchester Financial Inc. acquired a new stake in shares of Philip Morris International in the 2nd quarter worth approximately $36,000. Finally, Brand Asset Management Group Inc. grew its holdings in shares of Philip Morris International by 34.9% in the 2nd quarter. Brand Asset Management Group Inc. now owns 472 shares of the company’s stock worth $37,000 after acquiring an additional 122 shares during the period. 74.17% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have commented on PM shares. Stifel Nicolaus reiterated a “buy” rating on shares of Philip Morris International in a report on Tuesday, October 15th. JPMorgan Chase & Co. set a $86.00 target price on Philip Morris International and gave the company a “neutral” rating in a report on Wednesday, August 28th. Wells Fargo & Co lowered their target price on Philip Morris International from $102.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Credit Suisse Group set a $80.00 target price on Philip Morris International and gave the company a “sell” rating in a report on Wednesday, August 28th. Finally, Barclays upgraded Philip Morris International from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $82.00 to $100.00 in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $92.27.
NYSE:PM traded up $1.32 during trading hours on Friday, reaching $83.57. 5,186,003 shares of the company traded hands, compared to its average volume of 5,853,548. Philip Morris International Inc. has a 1-year low of $64.67 and a 1-year high of $92.74. The stock has a market cap of $131.00 billion, a P/E ratio of 16.39, a P/E/G ratio of 2.05 and a beta of 1.00. The firm’s 50-day moving average is $78.81 and its 200-day moving average is $80.34.
Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, October 17th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.08. Philip Morris International had a negative return on equity of 82.33% and a net margin of 9.59%. The company had revenue of $7.64 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same quarter in the prior year, the company posted $1.44 EPS. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, sell-side analysts predict that Philip Morris International Inc. will post 5.23 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Wednesday, September 25th were paid a dividend of $1.17 per share. This represents a $4.68 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date of this dividend was Tuesday, September 24th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.14. Philip Morris International’s dividend payout ratio is currently 91.76%.
Philip Morris International Company Profile
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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