Raymond James Trust N.A. Increases Stake in Philip Morris International Inc. (NYSE:PM)

Raymond James Trust N.A. raised its position in Philip Morris International Inc. (NYSE:PMGet Rating) by 0.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 49,774 shares of the company’s stock after purchasing an additional 457 shares during the period. Raymond James Trust N.A.’s holdings in Philip Morris International were worth $4,914,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of PM. Tcwp LLC acquired a new stake in shares of Philip Morris International in the first quarter valued at about $26,000. Bivin & Associates Inc. acquired a new position in shares of Philip Morris International in the 4th quarter worth $27,000. Sandy Cove Advisors LLC acquired a new position in shares of Philip Morris International in the 1st quarter worth $28,000. American National Bank boosted its position in shares of Philip Morris International by 89.1% in the first quarter. American National Bank now owns 312 shares of the company’s stock worth $29,000 after buying an additional 147 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group acquired a new stake in Philip Morris International during the first quarter valued at $33,000. Institutional investors and hedge funds own 76.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Jefferies Financial Group reduced their price target on Philip Morris International from $107.00 to $99.00 in a research report on Tuesday, July 19th. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Tuesday, July 26th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Philip Morris International has a consensus rating of “Moderate Buy” and an average target price of $109.13.

Philip Morris International Price Performance

Shares of NYSE PM opened at $95.79 on Friday. The stock has a market capitalization of $148.49 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 3.72 and a beta of 0.62. The business has a 50-day moving average of $96.48 and a 200-day moving average of $98.36. Philip Morris International Inc. has a fifty-two week low of $85.64 and a fifty-two week high of $112.48.

Philip Morris International (NYSE:PMGet Rating) last posted its quarterly earnings results on Thursday, July 21st. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.24. Philip Morris International had a negative return on equity of 115.36% and a net margin of 11.05%. The business had revenue of $7.83 billion during the quarter, compared to analysts’ expectations of $6.76 billion. During the same quarter last year, the company posted $1.57 earnings per share. Philip Morris International’s quarterly revenue was down .1% on a year-over-year basis. On average, sell-side analysts expect that Philip Morris International Inc. will post 5.99 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 12th. Stockholders of record on Wednesday, September 28th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date of this dividend is Tuesday, September 27th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.25. Philip Morris International’s payout ratio is currently 85.91%.

Philip Morris International Profile

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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 that are sold in markets outside the United States.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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