Sage Mountain Advisors LLC Purchases 2,950 Shares of Philip Morris International Inc. $PM

Sage Mountain Advisors LLC lifted its position in shares of Philip Morris International Inc. (NYSE:PM) by 31.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,322 shares of the company’s stock after purchasing an additional 2,950 shares during the period. Sage Mountain Advisors LLC’s holdings in Philip Morris International were worth $1,999,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Corient Private Wealth LLC grew its position in shares of Philip Morris International by 1.2% in the second quarter. Corient Private Wealth LLC now owns 490,590 shares of the company’s stock valued at $89,354,000 after purchasing an additional 5,681 shares during the last quarter. Westwood Holdings Group Inc. increased its position in Philip Morris International by 295.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 67,717 shares of the company’s stock worth $12,333,000 after buying an additional 50,610 shares during the period. Prudential Financial Inc. lifted its holdings in shares of Philip Morris International by 88.9% during the second quarter. Prudential Financial Inc. now owns 2,138,118 shares of the company’s stock worth $389,415,000 after buying an additional 1,006,014 shares in the last quarter. Trek Financial LLC grew its stake in shares of Philip Morris International by 732.3% in the second quarter. Trek Financial LLC now owns 42,829 shares of the company’s stock valued at $7,801,000 after acquiring an additional 37,683 shares in the last quarter. Finally, Railway Pension Investments Ltd increased its position in Philip Morris International by 2.9% during the third quarter. Railway Pension Investments Ltd now owns 514,040 shares of the company’s stock worth $83,377,000 after acquiring an additional 14,600 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PM. Jefferies Financial Group cut shares of Philip Morris International from a “buy” rating to a “hold” rating and lowered their target price for the stock from $220.00 to $180.00 in a report on Tuesday. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. 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 lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Philip Morris International from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 26th. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and a consensus target price of $184.56.

Philip Morris International Stock Performance

Shares of NYSE:PM opened at $169.87 on Tuesday. Philip Morris International Inc. has a 52-week low of $122.22 and a 52-week high of $186.69. The company has a market capitalization of $264.42 billion, a PE ratio of 30.77, a price-to-earnings-growth ratio of 1.87 and a beta of 0.40. The company has a fifty day moving average of $158.09 and a 200-day moving average of $161.62.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Friday, October 24th. The company reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.14. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The firm had revenue of $10.85 billion for the quarter, compared to analyst estimates of $10.67 billion. During the same period last year, the firm posted $1.91 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th were issued a dividend of $1.47 per share. The ex-dividend date of this dividend was Friday, December 26th. This represents a $5.88 annualized dividend and a yield of 3.5%. Philip Morris International’s payout ratio is presently 106.52%.

Philip Morris International Company Profile

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.