Astoria Portfolio Advisors LLC. Has $1.24 Million Stake in Philip Morris International Inc. $PM

Astoria Portfolio Advisors LLC. lowered its position in shares of Philip Morris International Inc. (NYSE:PM) by 5.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,823 shares of the company’s stock after selling 396 shares during the quarter. Astoria Portfolio Advisors LLC.’s holdings in Philip Morris International were worth $1,243,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Abound Wealth Management lifted its position in shares of 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 buying an additional 136 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new stake in shares of Philip Morris International in the 1st quarter worth approximately $30,000. CBIZ Investment Advisory Services LLC raised its holdings in shares of Philip Morris International by 405.0% in 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 during the period. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Philip Morris International in the 1st quarter worth approximately $34,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Philip Morris International in the 1st quarter worth approximately $35,000. Institutional investors own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

PM has been the subject of several research reports. Wall Street Zen lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Citigroup reiterated a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Jefferies Financial Group initiated coverage on shares of Philip Morris International in a research report on Wednesday, July 9th. They issued a “buy” rating and a $220.00 target price for the company. Barclays cut their target price on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $195.00 target price on shares of Philip Morris International in a research report on Wednesday, July 23rd. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $195.44.

Philip Morris International Trading Up 2.3%

Shares of NYSE:PM opened at $160.51 on Monday. The company has a market cap of $249.85 billion, a price-to-earnings ratio of 30.52, a price-to-earnings-growth ratio of 2.34 and a beta of 0.46. The company has a 50-day moving average price of $164.24 and a 200-day moving average price of $168.87. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The company had revenue of $8.12 billion during the quarter. As a group, research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be paid a $1.47 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 dividend on an annualized basis and a yield of 3.7%. Philip Morris International’s payout ratio is currently 111.79%.

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.