FSB Premier Wealth Management Inc. grew its holdings in Philip Morris International Inc. (NYSE:PM – Free Report) by 13.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,245 shares of the company’s stock after purchasing an additional 619 shares during the period. FSB Premier Wealth Management Inc.’s holdings in Philip Morris International were worth $512,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Cetera Advisor Networks LLC boosted its stake in shares of Philip Morris International by 10.4% during the 2nd quarter. Cetera Advisor Networks LLC now owns 213,136 shares of the company’s stock valued at $20,806,000 after buying an additional 20,104 shares during the period. Berger Financial Group Inc raised its holdings in shares of Philip Morris International by 3.0% during the second quarter. Berger Financial Group Inc now owns 3,902 shares of the company’s stock worth $381,000 after acquiring an additional 113 shares in the last quarter. Green Square Capital Advisors LLC acquired a new stake in Philip Morris International during the second quarter valued at $232,000. Cetera Investment Advisers grew its stake in Philip Morris International by 1.5% in the second quarter. Cetera Investment Advisers now owns 120,894 shares of the company’s stock valued at $11,802,000 after purchasing an additional 1,764 shares in the last quarter. Finally, Herold Advisors Inc. grew its stake in Philip Morris International by 8.6% in the second quarter. Herold Advisors Inc. now owns 5,484 shares of the company’s stock valued at $535,000 after purchasing an additional 434 shares in the last quarter. 79.70% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the company. UBS Group reduced their price target on Philip Morris International from $116.00 to $112.00 and set a “buy” rating for the company in a report on Thursday, October 5th. Redburn Atlantic started coverage on shares of Philip Morris International in a research note on Thursday, November 16th. They issued a “neutral” rating and a $95.00 target price for the company. Morgan Stanley decreased their target price on shares of Philip Morris International from $118.00 to $113.00 and set an “overweight” rating for the company in a research report on Monday, October 2nd. Jefferies Financial Group cut their price target on shares of Philip Morris International from $111.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, October 13th. Finally, Barclays reduced their price objective on shares of Philip Morris International from $115.00 to $110.00 and set an “overweight” rating for the company in a research note on Thursday, September 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $109.36.
Philip Morris International Stock Performance
Shares of Philip Morris International stock traded up $0.39 during trading on Tuesday, reaching $92.77. The company’s stock had a trading volume of 341,829 shares, compared to its average volume of 4,257,478. Philip Morris International Inc. has a one year low of $87.23 and a one year high of $105.62. The firm has a market cap of $144.02 billion, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 2.16 and a beta of 0.77. The business’s fifty day moving average price is $92.16 and its 200-day moving average price is $94.25.
Philip Morris International (NYSE:PM – Get Free Report) last announced its quarterly earnings data on Thursday, October 19th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.05. The business had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.21 billion. Philip Morris International had a net margin of 9.62% and a negative return on equity of 129.48%. Philip Morris International’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the company posted $1.53 earnings per share. Sell-side analysts anticipate that Philip Morris International Inc. will post 6.16 EPS for the current year.
Philip Morris International Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 12th. Stockholders of record on Wednesday, September 27th were given a dividend of $1.30 per share. The ex-dividend date was Tuesday, September 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.61%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.27. Philip Morris International’s dividend payout ratio is currently 100.97%.
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.
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