Prosperity Consulting Group LLC Grows Position in Philip Morris International Inc. $PM

Prosperity Consulting Group LLC grew its holdings in Philip Morris International Inc. (NYSE:PM) by 2.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,784 shares of the company’s stock after acquiring an additional 446 shares during the period. Prosperity Consulting Group LLC’s holdings in Philip Morris International were worth $3,968,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Linscomb Wealth Inc. grew its position in shares of Philip Morris International by 3.3% during the first quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company’s stock worth $13,207,000 after acquiring an additional 2,669 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Philip Morris International by 7.3% during the first quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company’s stock worth $568,873,000 after acquiring an additional 242,799 shares during the last quarter. 49 Wealth Management LLC grew its position in Philip Morris International by 79.0% in the 1st quarter. 49 Wealth Management LLC now owns 5,334 shares of the company’s stock valued at $847,000 after buying an additional 2,354 shares in the last quarter. Cortland Associates Inc. MO boosted its position in shares of Philip Morris International by 704.0% during the 1st quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company’s stock valued at $22,690,000 after purchasing an additional 125,171 shares in the last quarter. Finally, First American Trust FSB boosted its position in shares of Philip Morris International by 80.0% during the 1st quarter. First American Trust FSB now owns 56,382 shares of the company’s stock valued at $8,949,000 after purchasing an additional 25,063 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Stock Up 0.2%

NYSE:PM opened at $144.58 on Tuesday. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69. The company’s 50 day moving average is $159.59 and its 200-day moving average is $168.79. The firm has a market cap of $225.06 billion, a price-to-earnings ratio of 26.19, a P/E/G ratio of 2.09 and a beta of 0.43.

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

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were paid a $1.47 dividend. The ex-dividend date was Friday, October 3rd. This represents a $5.88 annualized dividend and a dividend yield of 4.1%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio is presently 106.52%.

Analyst Upgrades and Downgrades

A number of research firms have commented on PM. KGI Securities began coverage on shares of Philip Morris International in a research note on Monday, August 4th. They set an “outperform” rating for the company. UBS Group reduced their price objective on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research note on Friday, September 5th. The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Stifel Nicolaus set a $180.00 price target on shares of Philip Morris International in a research note on Tuesday, October 21st. Finally, JPMorgan Chase & Co. increased their price target on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.00.

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.