Sagespring Wealth Partners LLC Purchases 2,208 Shares of Philip Morris International Inc. $PM

Sagespring Wealth Partners LLC boosted its position in shares of Philip Morris International Inc. (NYSE:PM) by 3.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 58,318 shares of the company’s stock after acquiring an additional 2,208 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Philip Morris International were worth $10,622,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Abound Wealth Management grew its holdings in Philip Morris International by 566.7% during the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after purchasing an additional 136 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA purchased a new stake in Philip Morris International in the 1st quarter valued at about $30,000. CBIZ Investment Advisory Services LLC boosted its position in Philip Morris International by 405.0% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock valued at $32,000 after buying an additional 162 shares during the period. Clal Insurance Enterprises Holdings Ltd purchased a new stake in Philip Morris International in the 1st quarter valued at about $34,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Philip Morris International in the 1st quarter valued at about $35,000. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Down 0.7%

NYSE PM opened at $159.31 on Tuesday. The firm has a market cap of $247.99 billion, a PE ratio of 30.29, a price-to-earnings-growth ratio of 2.34 and a beta of 0.46. The company has a 50 day moving average price of $164.17 and a 200 day moving average price of $168.90. 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 EPS for the quarter. The firm had revenue of $8.12 billion during the quarter. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. On average, equities research analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently declared 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 represents a $5.88 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio (DPR) is currently 111.79%.

Analysts Set New Price Targets

Several research firms have issued reports on PM. Citigroup reissued a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Barclays lowered their price objective on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. KGI Securities assumed coverage on shares of Philip Morris International in a research report on Monday, August 4th. They issued an “outperform” rating for the company. UBS Group lowered their price target on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research report on Friday, September 5th. Finally, JPMorgan Chase & Co. upped their price target on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $195.44.

About Philip Morris International

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.