Laffer Tengler Investments Inc. Acquires New Position in Philip Morris International Inc. $PM

Laffer Tengler Investments Inc. acquired a new stake in Philip Morris International Inc. (NYSE:PM) during the 2nd quarter, HoldingsChannel reports. The firm acquired 1,156 shares of the company’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PM. Legacy Investment Solutions LLC purchased a new stake in shares of Philip Morris International during the second quarter worth $25,000. Abound Wealth Management grew its stake in Philip Morris International by 566.7% in the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after purchasing an additional 136 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA purchased a new position in Philip Morris International in the first quarter valued at about $30,000. Briaud Financial Planning Inc increased its position in Philip Morris International by 266.7% in the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after purchasing an additional 120 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC raised its stake in shares of Philip Morris International by 405.0% during 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 in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PM shares. Citigroup reiterated a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. Stifel Nicolaus set a $180.00 price objective on shares of Philip Morris International in a research report on Tuesday, October 21st. Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Sunday. Barclays cut their price target 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. Finally, 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. Twelve equities 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $194.00.

Philip Morris International Trading Up 2.2%

NYSE:PM opened at $153.26 on Monday. The firm has a market capitalization of $238.58 billion, a PE ratio of 27.77, a PEG ratio of 2.22 and a beta of 0.43. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69. The firm’s fifty day simple moving average is $158.30 and its 200 day simple moving average is $168.38.

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. The company 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%. As a group, analysts anticipate that Philip Morris International Inc. will post 7.14 EPS 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. Shareholders of record on Friday, October 3rd were issued a $1.47 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a yield of 3.8%. Philip Morris International’s payout ratio is 106.52%.

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.