Lido Advisors LLC increased its stake in Philip Morris International Inc. (NYSE:PM – Free Report) by 27.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 148,483 shares of the company’s stock after acquiring an additional 32,043 shares during the period. Lido Advisors LLC’s holdings in Philip Morris International were worth $28,334,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of PM. Keybank National Association OH raised its position in Philip Morris International by 5.8% during the 3rd quarter. Keybank National Association OH now owns 367,303 shares of the company’s stock valued at $70,089,000 after purchasing an additional 20,050 shares during the last quarter. Cornerstone Wealth Management LLC grew its position in shares of Philip Morris International by 6.5% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 16,173 shares of the company’s stock worth $3,086,000 after buying an additional 981 shares during the last quarter. Csenge Advisory Group grew its position in shares of Philip Morris International by 4.7% in the 3rd quarter. Csenge Advisory Group now owns 45,937 shares of the company’s stock worth $8,766,000 after buying an additional 2,045 shares during the last quarter. D Orazio & Associates Inc. increased its stake in shares of Philip Morris International by 2.2% during the third quarter. D Orazio & Associates Inc. now owns 9,513 shares of the company’s stock valued at $1,815,000 after buying an additional 202 shares during the period. Finally, Kinsale Capital Group Inc. increased its stake in shares of Philip Morris International by 14.0% during the third quarter. Kinsale Capital Group Inc. now owns 120,097 shares of the company’s stock valued at $22,917,000 after buying an additional 14,792 shares during the period. 78.63% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts recently commented on the company. Needham & Company LLC upped their target price on Philip Morris International from $215.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. Argus lifted their price target on shares of Philip Morris International from $210.00 to $220.00 and gave the company a “buy” rating in a report on Monday, October 26th. Stifel Nicolaus boosted their price objective on shares of Philip Morris International from $205.00 to $232.00 and gave the company a “buy” rating in a research report on Tuesday, November 3rd. 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 report on Thursday, July 23rd. Finally, Barclays upped their price objective on shares of Philip Morris International from $205.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and an average target price of $213.90.
Read Our Latest Research Report on PM
Philip Morris International Price Performance
NYSE:PM opened at $194.31 on Wednesday. The firm’s 50-day moving average price is $195.73 and its 200-day moving average price is $183.05. The company has a market capitalization of $302.86 billion, a PE ratio of 28.37, a P/E/G ratio of 2.59 and a beta of 0.34. Philip Morris International Inc. has a 1-year low of $146.35 and a 1-year high of $214.35.
Philip Morris International (NYSE:PM – Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The company reported $2.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.06. Philip Morris International had a net margin of 10.73% and a negative return on equity of 183.96%. The company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $11.32 billion. During the same period last year, the company posted $2.24 EPS. Philip Morris International’s revenue was up 5.5% on a year-over-year basis. Equities analysts anticipate that Philip Morris International Inc. will post 8.32 EPS for the current fiscal year.
Philip Morris International Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Friday, October 2nd were issued a dividend of $1.60 per share. The ex-dividend date was Friday, October 2nd. This is a boost from Philip Morris International’s previous quarterly dividend of $1.47. This represents a $6.40 annualized dividend and a dividend yield of 3.3%. Philip Morris International’s dividend payout ratio is 93.43%.
Philip Morris International Company Profile
Philip Morris International is a global tobacco and nicotine company that develops, manufactures and sells cigarettes and smoke-free products. Its cigarette brands include Marlboro in markets outside the United States, along with other regional and international brands. The company’s smoke-free portfolio includes IQOS heated tobacco products, ZYN nicotine pouches and VEEV e-vapor products. Philip Morris International sells its products in markets around the world, with availability varying by country and subject to local regulations.
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