Prime Capital Investment Advisors LLC lessened its stake in Philip Morris International Inc. (NYSE:PM – Free Report) by 11.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,662 shares of the company’s stock after selling 3,578 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Philip Morris International were worth $5,469,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Platt Wealth Management LLC lifted its holdings in Philip Morris International by 2.1% in the second quarter. Platt Wealth Management LLC now owns 2,833 shares of the company’s stock valued at $512,000 after acquiring an additional 58 shares during the period. Clearwater Capital Advisors LLC grew its stake in shares of Philip Morris International by 2.4% during the 1st quarter. Clearwater Capital Advisors LLC now owns 2,798 shares of the company’s stock worth $463,000 after purchasing an additional 65 shares during the period. Gamco Investors INC. ET AL grew its stake in shares of Philip Morris International by 0.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 9,887 shares of the company’s stock worth $1,635,000 after purchasing an additional 66 shares during the period. Essential Partners LLC increased its holdings in shares of Philip Morris International by 3.9% during the 1st quarter. Essential Partners LLC now owns 1,742 shares of the company’s stock valued at $288,000 after purchasing an additional 66 shares in the last quarter. Finally, JFS Wealth Advisors LLC increased its holdings in shares of Philip Morris International by 1.5% during the 2nd quarter. JFS Wealth Advisors LLC now owns 4,455 shares of the company’s stock valued at $806,000 after purchasing an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.
Philip Morris International Stock Performance
Philip Morris International stock opened at $199.92 on Wednesday. The stock has a market capitalization of $311.60 billion, a P/E ratio of 24.82, a P/E/G ratio of 2.58 and a beta of 0.34. The company’s fifty day moving average price is $191.76 and its 200 day moving average price is $183.18. Philip Morris International Inc. has a 1 year low of $142.11 and a 1 year high of $210.45.
Philip Morris International (NYSE:PM – Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.15. The business had revenue of $11.19 billion for the quarter, compared to analyst estimates of $10.60 billion. Philip Morris International had a net margin of 11.06% and a negative return on equity of 163.41%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.89 earnings per share. Sell-side analysts predict that Philip Morris International Inc. will post 8.38 EPS for the current year.
Philip Morris International Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Friday, October 2nd will be paid a $1.60 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.47. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, October 2nd. Philip Morris International’s dividend payout ratio is presently 91.95%.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on PM. Needham & Company LLC boosted their target price on shares of Philip Morris International from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Stifel Nicolaus raised their price target on shares of Philip Morris International from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. UBS Group lifted their price objective on shares of Philip Morris International from $182.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, September 23rd. Morgan Stanley upped their price objective on shares of Philip Morris International from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, Weiss Ratings raised shares of Philip Morris International from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.00.
View Our Latest Stock Report on Philip Morris International
About Philip Morris International
Philip Morris International Inc (NYSE:PM) is a global tobacco and nicotine company headquartered in Stamford, Connecticut. It was established as an independent company in 2008 following the separation of Philip Morris International from Altria Group. The company develops, manufactures and markets tobacco, nicotine and other related consumer products primarily outside the United States.
Its portfolio includes internationally recognized cigarette brands such as Marlboro, Parliament, L&M, Chesterfield and Bond Street.
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