Cherokee Insurance Co Takes $1.26 Million Position in Philip Morris International Inc. $PM

Cherokee Insurance Co purchased a new stake in Philip Morris International Inc. (NYSE:PM) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 6,900 shares of the company’s stock, valued at approximately $1,257,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Legacy Investment Solutions LLC acquired a new stake in shares of Philip Morris International during the second quarter worth about $25,000. Abound Wealth Management increased its position in Philip Morris International by 566.7% in the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after acquiring an additional 136 shares during the period. Briaud Financial Planning Inc raised its stake in Philip Morris International by 266.7% during the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock valued at $30,000 after acquiring an additional 120 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA purchased a new stake in Philip Morris International during the 1st quarter valued at approximately $30,000. Finally, CBIZ Investment Advisory Services LLC lifted its position in Philip Morris International by 405.0% during 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 during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Stock Down 0.8%

Shares of NYSE PM opened at $155.55 on Thursday. The stock has a market capitalization of $242.14 billion, a price-to-earnings ratio of 28.18, a price-to-earnings-growth ratio of 2.27 and a beta of 0.43. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69. The firm has a 50-day moving average price of $157.70 and a 200 day moving average price of $168.09.

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

Philip Morris International Increases Dividend

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

Wall Street Analysts Forecast Growth

PM has been the subject of several analyst reports. Barclays cut their price target on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Citigroup restated a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Morgan Stanley set a $175.00 target price on shares of Philip Morris International and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Wall Street Zen lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $194.00.

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.