Strong Tower Advisory Services Boosts Position in Philip Morris International Inc. $PM

Strong Tower Advisory Services grew its position in shares of Philip Morris International Inc. (NYSE:PM) by 4.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,729 shares of the company’s stock after purchasing an additional 753 shares during the period. Strong Tower Advisory Services’ holdings in Philip Morris International were worth $3,047,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Abound Wealth Management boosted its holdings in Philip Morris International by 566.7% in the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after purchasing an additional 136 shares during the period. Kelly Lawrence W & Associates Inc. CA acquired a new position in shares of Philip Morris International during the first quarter valued at $30,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Philip Morris International by 405.0% during the first 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 during the period. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Philip Morris International during the first quarter valued at $34,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Philip Morris International during the first quarter valued at $35,000. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Trading Up 2.3%

Shares of Philip Morris International stock opened at $160.51 on Friday. The company’s 50-day moving average price is $164.24 and its two-hundred day moving average price is $168.67. The stock has a market cap of $249.85 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 2.29 and a beta of 0.46. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. The firm had revenue of $8.12 billion for the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. On average, equities analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be paid a dividend of $1.47 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $5.88 annualized dividend and a yield of 3.7%. Philip Morris International’s dividend payout ratio (DPR) is presently 111.79%.

Analysts Set New Price Targets

PM has been the subject of several analyst reports. Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday. KGI Securities initiated coverage on shares of Philip Morris International in a report on Monday, August 4th. They issued an “outperform” rating for the company. UBS Group reduced their price objective on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a report on Friday, September 5th. Finally, Jefferies Financial Group initiated coverage on shares of Philip Morris International in a report on Wednesday, July 9th. They issued a “buy” rating and a $220.00 price objective for the company. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $195.44.

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.