Journey Strategic Wealth LLC Purchases 5,234 Shares of Philip Morris International Inc. $PM

Journey Strategic Wealth LLC grew its position in shares of Philip Morris International Inc. (NYSE:PM) by 27.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 24,150 shares of the company’s stock after buying an additional 5,234 shares during the quarter. Journey Strategic Wealth LLC’s holdings in Philip Morris International were worth $4,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Philip Morris International by 1.6% during the second quarter. Vanguard Group Inc. now owns 142,857,055 shares of the company’s stock worth $26,018,555,000 after purchasing an additional 2,235,380 shares during the period. Geode Capital Management LLC grew its position in Philip Morris International by 1.8% during the second quarter. Geode Capital Management LLC now owns 37,181,107 shares of the company’s stock worth $6,760,346,000 after buying an additional 672,983 shares in the last quarter. Wellington Management Group LLP increased its stake 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 acquiring an additional 4,563,632 shares during the period. WCM Investment Management LLC raised its holdings in Philip Morris International by 24,968.0% in the 2nd quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock valued at $2,041,223,000 after acquiring an additional 11,230,626 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Philip Morris International during the 1st quarter valued at $1,712,994,000. Institutional investors own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PM shares. Wall Street Zen upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday. Stifel Nicolaus set a $180.00 target price on shares of Philip Morris International in a research report on Tuesday, October 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. UBS Group decreased their price objective 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, Barclays cut their target price on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and an average target price of $189.56.

Philip Morris International Trading Up 0.1%

Shares of PM stock opened at $155.76 on Friday. The firm has a market capitalization of $242.47 billion, a price-to-earnings ratio of 28.22, a PEG ratio of 1.83 and a beta of 0.43. The business’s 50-day moving average price is $156.64 and its 200-day moving average price is $167.47. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69.

Philip Morris International (NYSE:PM) last issued 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 net margin of 9.33% and a negative return on equity of 122.14%. The business had revenue of $8.12 billion during the quarter. On average, sell-side analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

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

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.