Almanack Investment Partners LLC. Raises Holdings in Philip Morris International Inc. $PM

Almanack Investment Partners LLC. grew its position in shares of Philip Morris International Inc. (NYSE:PM) by 230.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,897 shares of the company’s stock after buying an additional 3,413 shares during the period. Almanack Investment Partners LLC.’s holdings in Philip Morris International were worth $892,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Abound Wealth Management lifted its holdings in Philip Morris International by 566.7% during the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after purchasing an additional 136 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA purchased a new stake in Philip Morris International during the 1st quarter worth about $30,000. CBIZ Investment Advisory Services LLC lifted its holdings in Philip Morris International by 405.0% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock worth $32,000 after purchasing an additional 162 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new stake in Philip Morris International during the 1st quarter worth about $34,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Philip Morris International during the 1st quarter worth about $35,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Up 2.3%

Shares of NYSE PM opened at $160.51 on Monday. The firm has a market capitalization of $249.85 billion, a P/E ratio of 30.52, a P/E/G ratio of 2.34 and a beta of 0.46. The stock’s 50-day simple moving average is $164.24 and its two-hundred day simple moving average is $168.87. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 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 120.86% and a net margin of 9.03%. As a group, research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be given a dividend of $1.47 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date is Friday, October 3rd. This represents a $5.88 annualized dividend and a dividend yield of 3.7%. Philip Morris International’s dividend payout ratio is currently 111.79%.

Analyst Ratings Changes

A number of analysts recently issued reports on PM shares. Barclays dropped their price objective on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. JPMorgan Chase & Co. increased their price objective on Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Jefferies Financial Group began coverage on Philip Morris International in a research note on Wednesday, July 9th. They issued a “buy” rating and a $220.00 target price on the stock. KGI Securities began coverage on Philip Morris International in a research note on Monday, August 4th. They issued an “outperform” rating on the stock. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average price target of $195.44.

Philip Morris International Company 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.