Stonebrook Private Inc. Has $714,000 Position in Philip Morris International Inc. $PM

Stonebrook Private Inc. increased its position in shares of Philip Morris International Inc. (NYSE:PM) by 22.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,919 shares of the company’s stock after acquiring an additional 708 shares during the period. Stonebrook Private Inc.’s holdings in Philip Morris International were worth $714,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Linscomb Wealth Inc. boosted its position in Philip Morris International by 3.3% in the first quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company’s stock valued at $13,207,000 after buying an additional 2,669 shares in the last quarter. Mackenzie Financial Corp lifted its stake in shares of Philip Morris International by 7.3% in the 1st quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company’s stock valued at $568,873,000 after acquiring an additional 242,799 shares during the last quarter. First American Trust FSB boosted its holdings 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 acquiring an additional 25,063 shares in the last quarter. SpringVest Wealth Management LLC acquired a new stake in shares of Philip Morris International during the 1st quarter valued at $253,000. Finally, SFE Investment Counsel bought a new stake in Philip Morris International during the 1st quarter worth $327,000. 78.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PM has been the subject of several research reports. Morgan Stanley set a $175.00 target price on Philip Morris International and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Needham & Company LLC reiterated a “buy” rating and set a $195.00 target price on shares of Philip Morris International in a research report on Wednesday, July 23rd. Barclays decreased their price target on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a research report on Monday. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Finally, KGI Securities started coverage on Philip Morris International in a research report on Monday, August 4th. They set an “outperform” rating for the company. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $189.56.

Philip Morris International Stock Performance

NYSE:PM opened at $156.05 on Wednesday. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69. The firm’s fifty day moving average is $157.08 and its 200-day moving average is $167.63. The firm has a market cap of $242.92 billion, a P/E ratio of 28.27, a P/E/G ratio of 2.21 and a beta of 0.43.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. The business had revenue of $8.12 billion for the quarter. As a group, sell-side analysts anticipate 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 announced a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio is currently 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.