Kestra Private Wealth Services LLC grew its holdings in Philip Morris International Inc. (NYSE:PM – Free Report) by 9.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,012 shares of the company’s stock after purchasing an additional 4,054 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Philip Morris International were worth $8,104,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the stock. Ritholtz Wealth Management boosted its stake in Philip Morris International by 3.5% during the first quarter. Ritholtz Wealth Management now owns 71,934 shares of the company’s stock worth $11,894,000 after buying an additional 2,408 shares during the last quarter. Breakwater Capital Group increased its stake in shares of Philip Morris International by 9.5% in the 1st quarter. Breakwater Capital Group now owns 1,850 shares of the company’s stock worth $306,000 after acquiring an additional 161 shares during the last quarter. Independence Wealth Advisors LLC raised its holdings in shares of Philip Morris International by 53.2% during the 1st quarter. Independence Wealth Advisors LLC now owns 4,101 shares of the company’s stock worth $678,000 after acquiring an additional 1,424 shares during the period. Brian Low Financial Group LLC raised its holdings in shares of Philip Morris International by 12.7% during the 1st quarter. Brian Low Financial Group LLC now owns 11,174 shares of the company’s stock worth $1,848,000 after acquiring an additional 1,257 shares during the period. Finally, Live Oak Private Wealth LLC boosted its position in shares of Philip Morris International by 0.5% during the 1st quarter. Live Oak Private Wealth LLC now owns 28,092 shares of the company’s stock valued at $4,645,000 after acquiring an additional 143 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.
Philip Morris International Trading Up 0.1%
Shares of NYSE:PM opened at $178.91 on Friday. The business has a 50-day moving average price of $176.11 and a 200 day moving average price of $171.52. The company has a market capitalization of $278.85 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 2.07 and a beta of 0.38. Philip Morris International Inc. has a 12-month low of $142.11 and a 12-month high of $193.05.
Philip Morris International Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Thursday, June 25th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Thursday, June 25th. Philip Morris International’s dividend payout ratio is currently 82.70%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the stock. Bank of America reissued a “buy” rating on shares of Philip Morris International in a report on Thursday, May 21st. UBS Group decreased their target price on shares of Philip Morris International from $181.50 to $168.00 and set a “neutral” rating on the stock in a report on Friday, April 17th. Needham & Company LLC reissued a “buy” rating and issued a $200.00 price target on shares of Philip Morris International in a research note on Thursday, April 23rd. Stifel Nicolaus cut their price target on shares of Philip Morris International from $200.00 to $195.00 and set a “buy” rating for the company in a report on Friday, April 10th. Finally, Morgan Stanley lifted their price target on shares of Philip Morris International from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $192.88.
Read Our Latest Research Report on PM
About Philip Morris International
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.
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