Global Wealth Management Investment Advisory Inc. Purchases Shares of 1,248 Philip Morris International Inc. $PM

Global Wealth Management Investment Advisory Inc. acquired a new stake in shares of Philip Morris International Inc. (NYSE:PM) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,248 shares of the company’s stock, valued at approximately $227,000.

A number of other hedge funds have also modified their holdings of PM. WCM Investment Management LLC lifted its holdings in shares of Philip Morris International by 24,968.0% during the second quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock valued at $2,041,223,000 after purchasing an additional 11,230,626 shares during the last quarter. Nuveen LLC purchased a new position in Philip Morris International in the 1st quarter worth about $1,712,994,000. Wellington Management Group LLP raised its holdings in Philip Morris International by 26.4% during the 1st quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock worth $3,466,730,000 after buying an additional 4,563,632 shares during the period. Goldman Sachs Group Inc. lifted its stake in Philip Morris International by 57.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock valued at $1,554,686,000 after buying an additional 3,575,158 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Philip Morris International by 22.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 9,018,628 shares of the company’s stock valued at $1,431,527,000 after buying an additional 1,635,636 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. KGI Securities started coverage on shares of Philip Morris International in a research report on Monday, August 4th. They issued an “outperform” rating on the stock. Wall Street Zen lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Sunday. Citigroup reiterated a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Barclays cut their target price on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. Finally, Morgan Stanley set a $175.00 target price on Philip Morris International and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $194.00.

Philip Morris International Trading Up 2.2%

NYSE PM opened at $153.26 on Monday. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69. The firm’s fifty day simple moving average is $158.30 and its 200-day simple moving average is $168.38. The company has a market capitalization of $238.58 billion, a PE ratio of 27.77, a price-to-earnings-growth ratio of 2.22 and a beta of 0.43.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The firm had revenue of $8.12 billion during the quarter. As a group, analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were issued a dividend of $1.47 per share. The ex-dividend date was Friday, October 3rd. This represents a $5.88 annualized dividend and a dividend yield of 3.8%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio is presently 106.52%.

About Philip Morris International

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.