Strait & Sound Wealth Management LLC Increases Position in Philip Morris International Inc. $PM

Strait & Sound Wealth Management LLC grew its position in shares of Philip Morris International Inc. (NYSE:PM) by 29.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,978 shares of the company’s stock after buying an additional 680 shares during the quarter. Strait & Sound Wealth Management LLC’s holdings in Philip Morris International were worth $542,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in PM. Abound Wealth Management grew its holdings in shares of Philip Morris International by 566.7% during the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after buying an additional 136 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new position in Philip Morris International during the first quarter valued at approximately $30,000. Briaud Financial Planning Inc lifted its position in Philip Morris International by 266.7% during the second quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock valued at $30,000 after purchasing an additional 120 shares during the period. CBIZ Investment Advisory Services LLC lifted its position in Philip Morris International by 405.0% during the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock valued at $32,000 after purchasing an additional 162 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd bought a new position in Philip Morris International during the first quarter valued at approximately $34,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Down 0.0%

Shares of NYSE:PM opened at $157.69 on Friday. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69. The stock has a market capitalization of $245.45 billion, a P/E ratio of 28.57, a PEG ratio of 2.30 and a beta of 0.46. The firm has a fifty day simple moving average of $162.32 and a two-hundred day simple moving average of $168.98.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. Philip Morris International had a net margin of 11.02% and a negative return on equity of 122.14%. The business had revenue of $8.12 billion during the quarter. On average, analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, October 3rd. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio is 106.52%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Stifel Nicolaus set a $180.00 price objective on shares of Philip Morris International in a research report on Tuesday. KGI Securities began coverage on shares of Philip Morris International in a research note on Monday, August 4th. They issued an “outperform” rating for the company. Morgan Stanley set a $175.00 target price on shares of Philip Morris International and gave the stock an “overweight” rating in a report on Wednesday. Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Jefferies Financial Group assumed coverage on shares of Philip Morris International in a report on Wednesday, July 9th. They issued a “buy” rating and a $220.00 target price for the company. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $194.00.

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.