MBE Wealth Management LLC purchased a new stake in shares of Philip Morris International Inc. (NYSE:PM – Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,423 shares of the company’s stock, valued at approximately $653,000.
A number of other institutional investors have also recently made changes to their positions in the company. Black Diamond Financial LLC raised its stake in shares of Philip Morris International by 30.0% in the third quarter. Black Diamond Financial LLC now owns 2,166 shares of the company’s stock worth $413,000 after purchasing an additional 500 shares during the last quarter. Arthur M. Cohen & Associates LLC lifted its holdings in shares of Philip Morris International by 6.1% during the third quarter. Arthur M. Cohen & Associates LLC now owns 1,572 shares of the company’s stock valued at $300,000 after purchasing an additional 91 shares in the last quarter. Cahaba Wealth Management Inc. boosted its position in shares of Philip Morris International by 7.8% during the third quarter. Cahaba Wealth Management Inc. now owns 1,442 shares of the company’s stock valued at $275,000 after buying an additional 104 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of Philip Morris International by 14.6% during the third quarter. Oppenheimer & Co. Inc. now owns 67,233 shares of the company’s stock valued at $12,829,000 after buying an additional 8,547 shares during the last quarter. Finally, Center for Financial Planning Inc. boosted its position in shares of Philip Morris International by 3.2% during the third quarter. Center for Financial Planning Inc. now owns 5,994 shares of the company’s stock valued at $1,144,000 after buying an additional 184 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.
Analysts Set New Price Targets
Several research firms have issued reports on PM. Stifel Nicolaus upped their target price on shares of Philip Morris International from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. BTIG Research set a $221.00 price target on shares of Philip Morris International and gave the stock a “buy” rating in a research note on Friday, July 24th. Needham & Company LLC lifted their price target on shares of Philip Morris International from $215.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, October 22nd. UBS Group boosted their price objective on shares of Philip Morris International from $193.00 to $201.00 and gave the company a “neutral” rating in a report on Thursday, October 22nd. Finally, Barclays increased their price objective on shares of Philip Morris International from $205.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Philip Morris International has a consensus rating of “Moderate Buy” and a consensus target price of $209.70.
Get Our Latest Report on Philip Morris International
Philip Morris International Price Performance
Shares of NYSE:PM opened at $202.82 on Wednesday. The stock’s 50-day simple moving average is $193.19 and its two-hundred day simple moving average is $181.26. Philip Morris International Inc. has a 52-week low of $142.11 and a 52-week high of $210.45.
Philip Morris International (NYSE:PM – Get Free Report) last released its quarterly earnings results on Wednesday, October 21st. The company reported $2.36 EPS for the quarter, beating the consensus estimate of $2.30 by $0.06. The business had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $11.32 billion. During the same period in the previous year, the company earned $2.24 EPS. Philip Morris International’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities analysts anticipate that Philip Morris International Inc. will post 8.32 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 26th. Shareholders of record on Friday, October 2nd were issued a dividend of $1.60 per share. This is an increase from Philip Morris International’s previous quarterly dividend of $1.47. This represents a $6.40 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Friday, October 2nd.
Philip Morris International Profile
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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