Moors & Cabot Inc. Purchases 3,876 Shares of Philip Morris International Inc. $PM

Moors & Cabot Inc. lifted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 21.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,706 shares of the company’s stock after acquiring an additional 3,876 shares during the period. Moors & Cabot Inc.’s holdings in Philip Morris International were worth $3,953,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PM. Brighton Jones LLC lifted its position in shares of Philip Morris International by 31.1% during the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock valued at $1,027,000 after acquiring an additional 2,023 shares during the period. Revolve Wealth Partners LLC raised its holdings in Philip Morris International by 4.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock worth $252,000 after buying an additional 91 shares during the last quarter. Capstone Wealth Management Group LLC acquired a new position in Philip Morris International during the first quarter worth $238,000. Silver Oak Securities Incorporated acquired a new position in Philip Morris International during the first quarter worth $169,000. Finally, Capital Advisors Inc. OK raised its holdings in Philip Morris International by 3.1% during the first quarter. Capital Advisors Inc. OK now owns 7,126 shares of the company’s stock worth $1,131,000 after buying an additional 216 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on PM shares. Barclays lowered their price objective on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Morgan Stanley set a $175.00 price objective on shares of Philip Morris International and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Stifel Nicolaus set a $180.00 price objective on shares of Philip Morris International in a report on Tuesday, October 21st. Finally, Jefferies Financial Group initiated 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 research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Philip Morris International has an average rating of “Moderate Buy” and an average price target of $194.00.

Philip Morris International Stock Up 2.1%

PM opened at $147.64 on Wednesday. The company has a market capitalization of $229.82 billion, a price-to-earnings ratio of 26.75, a PEG ratio of 2.09 and a beta of 0.43. The firm has a 50-day moving average price of $159.21 and a 200-day moving average price of $168.68. 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 posted its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share 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%. On average, sell-side analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The firm 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 is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 annualized dividend and a dividend yield of 4.0%. Philip Morris International’s dividend payout ratio is 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.