Philip Morris International Inc. $PM Stock: Partners Wealth Management LLC Increases Position

Partners Wealth Management LLC boosted its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 162.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,844 shares of the company’s stock after buying an additional 4,850 shares during the period. Partners Wealth Management LLC’s holdings in Philip Morris International were worth $1,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PM. Bank of New York Mellon Corp lifted its position in Philip Morris International by 30.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 11,669,878 shares of the company’s stock worth $2,111,198,000 after acquiring an additional 2,755,662 shares during the period. Teamwork Financial Advisors LLC grew its stake in Philip Morris International by 2,662.6% during the 2nd quarter. Teamwork Financial Advisors LLC now owns 65,695 shares of the company’s stock valued at $11,885,000 after purchasing an additional 63,317 shares during the last quarter. Perennial Investment Advisors LLC acquired a new position in shares of Philip Morris International in the second quarter valued at about $505,000. Orographic Financial Advisors LLC acquired a new position in shares of Philip Morris International in the first quarter valued at about $1,205,000. Finally, Addison Capital Co increased its holdings in shares of Philip Morris International by 32.5% in the first quarter. Addison Capital Co now owns 31,779 shares of the company’s stock valued at $5,254,000 after purchasing an additional 7,793 shares during the period. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Stock Up 0.1%

Philip Morris International stock opened at $208.72 on Friday. The firm has a market cap of $325.32 billion, a price-to-earnings ratio of 30.47, a price-to-earnings-growth ratio of 2.80 and a beta of 0.34. Philip Morris International Inc. has a 52 week low of $142.11 and a 52 week high of $214.35. The business’s 50-day moving average price is $194.20 and its 200 day moving average price is $181.93.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.06. Philip Morris International had a negative return on equity of 183.96% and a net margin of 10.73%. The company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $11.32 billion. During the same period last year, the business earned $2.24 earnings per share. Philip Morris International’s quarterly revenue was up 5.5% on a year-over-year basis. Equities analysts expect that Philip Morris International Inc. will post 8.32 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Friday, October 2nd were issued a dividend of $1.60 per share. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend was Friday, October 2nd. This represents a $6.40 annualized dividend and a dividend yield of 3.1%. Philip Morris International’s payout ratio is presently 93.43%.

Analyst Ratings Changes

A number of research firms recently commented on PM. Stifel Nicolaus lifted their target price on Philip Morris International from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Needham & Company LLC increased their price target on shares of Philip Morris International from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. Citigroup lifted their price objective 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. BTIG Research set a $221.00 price objective on shares of Philip Morris International and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, Weiss Ratings raised shares of Philip Morris International from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average target price of $209.70.

About Philip Morris International

Philip Morris International Inc (NYSE:PM) is a global tobacco and nicotine company headquartered in Stamford, Connecticut. It was established as an independent company in 2008 following the separation of Philip Morris International from Altria Group. The company develops, manufactures and markets tobacco, nicotine and other related consumer products primarily outside the United States.

Its portfolio includes internationally recognized cigarette brands such as Marlboro, Parliament, L&M, Chesterfield and Bond Street.