Philip Morris International Inc. (NYSE:PM) Shares Acquired by Whitener Capital Management Inc.

Whitener Capital Management Inc. raised its stake in shares of Philip Morris International Inc. (NYSE:PM) by 3.3% during the second quarter, HoldingsChannel reports. The firm owned 6,172 shares of the company’s stock after purchasing an additional 200 shares during the quarter. Whitener Capital Management Inc.’s holdings in Philip Morris International were worth $603,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Colonial River Wealth Management LLC boosted its holdings in shares of Philip Morris International by 0.6% in the 4th quarter. Colonial River Wealth Management LLC now owns 16,381 shares of the company’s stock valued at $1,658,000 after buying an additional 98 shares during the period. Cigna Investments Inc. New boosted its holdings in shares of Philip Morris International by 0.5% in the 4th quarter. Cigna Investments Inc. New now owns 19,168 shares of the company’s stock valued at $1,940,000 after buying an additional 100 shares during the period. Herold Advisors Inc. boosted its holdings in shares of Philip Morris International by 2.1% in the 1st quarter. Herold Advisors Inc. now owns 5,050 shares of the company’s stock valued at $491,000 after buying an additional 103 shares during the period. Pin Oak Investment Advisors Inc. boosted its holdings in shares of Philip Morris International by 6.6% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 1,675 shares of the company’s stock valued at $170,000 after buying an additional 104 shares during the period. Finally, LCM Capital Management Inc boosted its holdings in shares of Philip Morris International by 4.5% in the 1st quarter. LCM Capital Management Inc now owns 2,428 shares of the company’s stock valued at $236,000 after buying an additional 105 shares during the period. Institutional investors and hedge funds own 79.70% of the company’s stock.

Philip Morris International Stock Performance

Shares of PM stock traded up $0.27 during midday trading on Tuesday, reaching $97.23. 1,183,494 shares of the company were exchanged, compared to its average volume of 4,202,630. Philip Morris International Inc. has a 12 month low of $82.85 and a 12 month high of $105.62. The company has a market cap of $150.93 billion, a P/E ratio of 18.75, a PEG ratio of 2.01 and a beta of 0.71. The company’s 50 day moving average price is $96.49 and its two-hundred day moving average price is $96.05.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, July 20th. The company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.10. Philip Morris International had a net margin of 11.63% and a negative return on equity of 127.84%. The company had revenue of $8.97 billion for the quarter, compared to the consensus estimate of $8.76 billion. During the same period in the previous year, the firm earned $1.48 EPS. Philip Morris International’s revenue was up 14.5% on a year-over-year basis. As a group, sell-side analysts predict that Philip Morris International Inc. will post 6.19 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Wednesday, September 27th will be issued a $1.30 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.27. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date of this dividend is Tuesday, September 26th. Philip Morris International’s payout ratio is presently 98.26%.

Analyst Ratings Changes

Several research firms have recently commented on PM. Jefferies Financial Group decreased their price target on shares of Philip Morris International from $113.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, August 22nd. 22nd Century Group reissued a “reiterates” rating on shares of Philip Morris International in a research note on Tuesday, June 27th. StockNews.com initiated coverage on shares of Philip Morris International in a research note on Thursday, August 17th. They set a “hold” rating for the company. Finally, Citigroup raised shares of Philip Morris International from a “neutral” rating to a “buy” rating and boosted their target price for the company from $109.00 to $117.00 in a research note on Tuesday, June 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $110.70.

Philip Morris International Profile

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.