Prospera Financial Services Inc lifted its position in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 41.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,358 shares of the company’s stock after purchasing an additional 10,578 shares during the quarter. Prospera Financial Services Inc’s holdings in Philip Morris International were worth $5,899,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of PM. Second Line Capital LLC raised its holdings in Philip Morris International by 4.8% during the second quarter. Second Line Capital LLC now owns 1,338 shares of the company’s stock worth $245,000 after buying an additional 61 shares during the last quarter. Meridian Wealth Partners LLC grew its holdings in shares of Philip Morris International by 3.1% during the second quarter. Meridian Wealth Partners LLC now owns 2,060 shares of the company’s stock valued at $375,000 after buying an additional 62 shares during the last quarter. Bernardo Wealth Planning LLC increased its position in shares of Philip Morris International by 1.8% during the second quarter. Bernardo Wealth Planning LLC now owns 3,584 shares of the company’s stock worth $653,000 after acquiring an additional 62 shares in the last quarter. Raiffeisen Bank International AG raised its holdings in shares of Philip Morris International by 1.4% in the 2nd quarter. Raiffeisen Bank International AG now owns 4,471 shares of the company’s stock worth $803,000 after acquiring an additional 63 shares during the last quarter. Finally, Nia Impact Advisors LLC lifted its position in Philip Morris International by 4.2% in the 2nd quarter. Nia Impact Advisors LLC now owns 1,577 shares of the company’s stock valued at $287,000 after acquiring an additional 63 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.
Philip Morris International Trading Up 0.4%
Shares of Philip Morris International stock opened at $182.57 on Wednesday. The business’s fifty day simple moving average is $165.06 and its 200 day simple moving average is $161.79. Philip Morris International Inc. has a 12 month low of $142.11 and a 12 month high of $186.69. The firm has a market capitalization of $284.20 billion, a P/E ratio of 25.11, a price-to-earnings-growth ratio of 2.01 and a beta of 0.39.
Philip Morris International Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th were given a $1.47 dividend. The ex-dividend date of this dividend was Friday, December 26th. This represents a $5.88 annualized dividend and a yield of 3.2%. Philip Morris International’s payout ratio is currently 80.88%.
Analyst Upgrades and Downgrades
PM has been the subject of a number of recent research reports. The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Jefferies Financial Group downgraded Philip Morris International from a “buy” rating to a “hold” rating and decreased their price target for the stock from $220.00 to $180.00 in a report on Tuesday, January 20th. JPMorgan Chase & Co. lowered their price target on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. Morgan Stanley reaffirmed an “overweight” rating and set a $205.00 price objective on shares of Philip Morris International in a report on Monday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research note on Thursday, January 22nd. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $194.06.
Read Our Latest Stock Analysis on Philip Morris International
Philip Morris International Profile
Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.
PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.
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