Calamos Wealth Management LLC Acquires 21,571 Shares of Philip Morris International Inc. $PM

Calamos Wealth Management LLC boosted its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 402.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 26,931 shares of the company’s stock after buying an additional 21,571 shares during the period. Calamos Wealth Management LLC’s holdings in Philip Morris International were worth $5,139,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. GQG Partners LLC acquired a new position in Philip Morris International in the second quarter valued at $8,220,008,000. Bank of America Corp DE purchased a new position in Philip Morris International in the 2nd quarter valued at about $3,075,267,000. Legal & General Group Plc purchased a new stake in Philip Morris International in the 2nd quarter valued at about $1,316,151,000. Jupiter Topco LLC acquired a new position in Philip Morris International in the second quarter valued at $726,464,000. Finally, Bank of New York Mellon Corp raised its holdings in Philip Morris International by 30.9% in the second quarter. Bank of New York Mellon Corp now owns 11,669,878 shares of the company’s stock valued at $2,111,198,000 after buying an additional 2,755,662 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

PM has been the subject of several analyst reports. Citigroup upped their target price on shares of Philip Morris International from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Barclays increased their target price 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. Weiss Ratings raised Philip Morris International from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday. Needham & Company LLC upped their target price on shares of Philip Morris International from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. Finally, Morgan Stanley increased their target price on shares of Philip Morris International from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.40.

Philip Morris International Stock Performance

PM traded down $3.73 during trading on Friday, reaching $197.76. The company had a trading volume of 5,637,781 shares, compared to its average volume of 4,641,165. The firm’s 50-day simple moving average is $195.56 and its 200 day simple moving average is $182.81. The company has a market cap of $308.25 billion, a price-to-earnings ratio of 28.87, a PEG ratio of 2.79 and a beta of 0.34. Philip Morris International Inc. has a 12-month low of $146.35 and a 12-month high of $214.35.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Wednesday, October 21st. The company reported $2.36 EPS for the quarter, beating the consensus estimate 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 business had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $11.32 billion. During the same quarter in the prior year, the firm earned $2.24 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts expect that Philip Morris International Inc. will post 8.32 EPS for the current year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Friday, October 2nd were issued a dividend of $1.60 per share. This is an increase from Philip Morris International’s previous quarterly dividend of $1.47. This represents a $6.40 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, October 2nd. Philip Morris International’s dividend payout ratio is 93.43%.

About Philip Morris International

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.

Philip Morris International became an independent publicly traded company in 2008 after separating from Altria Group.