Trust Co. of Toledo NA OH Acquires 286 Shares of Philip Morris International Inc. $PM

Trust Co. of Toledo NA OH raised its position in Philip Morris International Inc. (NYSE:PM) by 1.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,342 shares of the company’s stock after acquiring an additional 286 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Philip Morris International were worth $3,341,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Abound Wealth Management raised its holdings in shares of Philip Morris International by 566.7% in the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after acquiring an additional 136 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new position in shares of Philip Morris International in the 1st quarter worth $30,000. CBIZ Investment Advisory Services LLC raised its position in shares of Philip Morris International by 405.0% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock worth $32,000 after acquiring an additional 162 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new position in Philip Morris International in the first quarter worth about $34,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Philip Morris International during the first quarter worth $35,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on PM shares. Needham & Company LLC restated a “buy” rating and set a $195.00 price target on shares of Philip Morris International in a research note on Wednesday, July 23rd. Jefferies Financial Group assumed coverage on Philip Morris International in a report on Wednesday, July 9th. They set a “buy” rating and a $220.00 target price on the stock. Wall Street Zen lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. boosted their price target on shares of Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Finally, Barclays decreased their price objective on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Eleven investment analysts have rated the stock with a Buy rating and one has issued 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 a consensus price target of $195.44.

Philip Morris International Stock Performance

Shares of NYSE PM opened at $160.51 on Friday. Philip Morris International Inc. has a fifty-two week low of $116.12 and a fifty-two week high of $186.69. The stock’s 50-day simple moving average is $164.24 and its 200-day simple moving average is $168.67. The firm has a market capitalization of $249.85 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 2.29 and a beta of 0.46.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The company had revenue of $8.12 billion for the quarter. On average, sell-side analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.7%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Friday, October 3rd. Philip Morris International’s dividend payout ratio is currently 111.79%.

Philip Morris International Company Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.