Transcend Capital Advisors LLC Boosts Stock Position in Philip Morris International Inc. $PM

Transcend Capital Advisors LLC lifted its holdings in Philip Morris International Inc. (NYSE:PM) by 30.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,761 shares of the company’s stock after purchasing an additional 2,307 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Philip Morris International were worth $1,778,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PM. Brighton Jones LLC grew its holdings in shares of Philip Morris International by 31.1% in the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock valued at $1,027,000 after purchasing an additional 2,023 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Philip Morris International by 4.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock valued at $252,000 after purchasing an additional 91 shares in the last quarter. Highland Capital Management LLC grew its holdings in shares of Philip Morris International by 18.3% in the first quarter. Highland Capital Management LLC now owns 2,136 shares of the company’s stock valued at $339,000 after purchasing an additional 330 shares in the last quarter. Sovran Advisors LLC grew its holdings in shares of Philip Morris International by 40.5% in the first quarter. Sovran Advisors LLC now owns 3,398 shares of the company’s stock valued at $555,000 after purchasing an additional 979 shares in the last quarter. Finally, Naviter Wealth LLC purchased a new position in shares of Philip Morris International in the first quarter valued at $327,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PM has been the subject of a number of recent research reports. Wall Street Zen lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. KGI Securities began coverage on shares of Philip Morris International in a research report on Monday, August 4th. They set an “outperform” rating on the stock. Citigroup reiterated a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. JPMorgan Chase & Co. boosted their price objective on shares of Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $194.00.

Philip Morris International Trading Down 2.7%

Shares of PM opened at $153.35 on Tuesday. The firm has a market capitalization of $238.70 billion, a P/E ratio of 27.78, a P/E/G ratio of 2.28 and a beta of 0.46. Philip Morris International Inc. has a 12-month low of $116.12 and a 12-month high of $186.69. The firm has a fifty day moving average price of $162.06 and a 200-day moving average price of $169.11.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. The firm had revenue of $8.12 billion during the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. Analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were paid a dividend of $1.47 per share. 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 dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, October 3rd. Philip Morris International’s payout ratio is presently 106.52%.

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.