Cyndeo Wealth Partners LLC Purchases 337 Shares of Philip Morris International Inc. $PM

Cyndeo Wealth Partners LLC lifted its position in shares of Philip Morris International Inc. (NYSE:PM) by 5.0% during the second quarter, HoldingsChannel reports. The firm owned 7,068 shares of the company’s stock after buying an additional 337 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Philip Morris International were worth $1,287,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Abound Wealth Management lifted 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 in the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new stake in Philip Morris International in the 1st quarter valued at $30,000. CBIZ Investment Advisory Services LLC lifted its position in Philip Morris International by 405.0% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock valued at $32,000 after acquiring an additional 162 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new stake in Philip Morris International in the 1st quarter valued at $34,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Philip Morris International in the 1st quarter valued at $35,000. 78.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on PM. KGI Securities began coverage on shares of Philip Morris International in a research report on Monday, August 4th. They issued an “outperform” rating on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $195.00 price objective on shares of Philip Morris International in a research report on Wednesday, July 23rd. Barclays lowered their price target 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. UBS Group lowered their price target on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a research note on Friday, September 5th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday. Eleven research 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, Philip Morris International presently has a consensus rating of “Moderate Buy” and an average target price of $195.44.

Philip Morris International Trading Up 2.3%

Shares of PM stock opened at $160.51 on Friday. 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 moving average price is $164.24 and its two-hundred day moving average price is $168.67. The firm has a market capitalization of $249.85 billion, a P/E ratio of 30.52, a PEG ratio of 2.29 and a beta of 0.46.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. The company had revenue of $8.12 billion for the quarter. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. As a group, equities research analysts forecast 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 will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be paid a dividend of $1.47 per share. The ex-dividend date is Friday, October 3rd. This represents a $5.88 annualized dividend and a dividend yield of 3.7%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio (DPR) is presently 111.79%.

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.