Wealthfront Advisers LLC Buys 15,226 Shares of Philip Morris International Inc. $PM

Wealthfront Advisers LLC lifted its position in Philip Morris International Inc. (NYSE:PM) by 7.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 210,530 shares of the company’s stock after acquiring an additional 15,226 shares during the quarter. Wealthfront Advisers LLC’s holdings in Philip Morris International were worth $38,344,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PM. Linscomb Wealth Inc. grew its position in Philip Morris International by 3.3% in the 1st quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company’s stock worth $13,207,000 after purchasing an additional 2,669 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Philip Morris International by 7.3% during the 1st quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company’s stock worth $568,873,000 after buying an additional 242,799 shares in the last quarter. 49 Wealth Management LLC boosted its stake in shares of Philip Morris International by 79.0% in the 1st quarter. 49 Wealth Management LLC now owns 5,334 shares of the company’s stock worth $847,000 after buying an additional 2,354 shares during the last quarter. Cortland Associates Inc. MO grew its holdings in shares of Philip Morris International by 704.0% in the first quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company’s stock valued at $22,690,000 after acquiring an additional 125,171 shares in the last quarter. Finally, First American Trust FSB grew its holdings in shares of Philip Morris International by 80.0% in the first quarter. First American Trust FSB now owns 56,382 shares of the company’s stock valued at $8,949,000 after acquiring an additional 25,063 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on PM. Needham & Company LLC reiterated a “buy” rating and set a $195.00 price target on shares of Philip Morris International in a report on Wednesday, July 23rd. JPMorgan Chase & Co. raised their target price on Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Citigroup reissued a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. Wall Street Zen lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, KGI Securities initiated coverage on shares of Philip Morris International in a report on Monday, August 4th. They set an “outperform” rating for the company. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $194.00.

Philip Morris International Stock Performance

Shares of PM opened at $157.69 on Friday. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69. The stock’s 50-day simple moving average is $162.32 and its 200 day simple moving average is $168.98. The stock has a market capitalization of $245.45 billion, a price-to-earnings ratio of 28.57, a price-to-earnings-growth ratio of 2.30 and a beta of 0.46.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 11.02%.The firm had revenue of $8.12 billion for the quarter. On average, research analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were issued 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 was Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a yield of 3.7%. Philip Morris International’s payout ratio is currently 106.52%.

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.