Philip Morris International Inc. $PM Shares Acquired by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC increased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 106.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,947 shares of the company’s stock after acquiring an additional 14,416 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Philip Morris International were worth $5,090,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Linscomb Wealth Inc. grew its stake in shares of Philip Morris International by 3.3% in the 1st quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company’s stock valued at $13,207,000 after buying an additional 2,669 shares during the period. Prudential Financial Inc. grew its position in Philip Morris International by 88.9% in the second quarter. Prudential Financial Inc. now owns 2,138,118 shares of the company’s stock worth $389,415,000 after acquiring an additional 1,006,014 shares during the period. First American Trust FSB increased its stake in Philip Morris International by 80.0% during the first quarter. First American Trust FSB now owns 56,382 shares of the company’s stock worth $8,949,000 after acquiring an additional 25,063 shares during the last quarter. Klingman & Associates LLC raised its position in Philip Morris International by 44.5% in the second quarter. Klingman & Associates LLC now owns 6,615 shares of the company’s stock valued at $1,205,000 after purchasing an additional 2,038 shares during the period. Finally, CCM Investment Group LLC purchased a new stake in Philip Morris International in the first quarter valued at $7,641,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Down 0.5%

Philip Morris International stock opened at $156.66 on Thursday. The firm has a market cap of $243.87 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 1.86 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 company’s 50 day moving average is $155.90 and its two-hundred day moving average is $166.93.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 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, equities research analysts anticipate 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 declared a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were issued a dividend of $1.47 per share. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, October 3rd. This represents a $5.88 annualized dividend and a yield of 3.8%. Philip Morris International’s dividend payout ratio (DPR) is currently 106.52%.

Analysts Set New Price Targets

PM has been the subject of a number of research analyst reports. UBS Group lowered their price target on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a report on Friday, September 5th. Wall Street Zen raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, November 17th. JPMorgan Chase & Co. reduced their price target on shares of Philip Morris International from $190.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday. KGI Securities initiated coverage on shares of Philip Morris International in a report on Monday, August 4th. They issued an “outperform” rating on the stock. Finally, Barclays dropped their target price on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a report on Monday, November 17th. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $189.00.

Philip Morris International 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.