Philip Morris International Inc. $PM Stake Boosted by Balboa Wealth Partners

Balboa Wealth Partners raised its position in shares of Philip Morris International Inc. (NYSE:PM) by 17.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 4,334 shares of the company’s stock after buying an additional 646 shares during the period. Balboa Wealth Partners’ holdings in Philip Morris International were worth $789,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Abound Wealth Management grew its position in Philip Morris International by 566.7% during the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after purchasing an additional 136 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA acquired a new stake in shares of Philip Morris International in the first quarter worth $30,000. CBIZ Investment Advisory Services LLC grew 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 buying an additional 162 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd purchased 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 Philip Morris International during the first quarter valued at $35,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Up 1.3%

PM stock opened at $158.08 on Monday. The firm has a 50 day moving average of $163.40 and a two-hundred day moving average of $168.86. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69. The company has a market capitalization of $246.06 billion, a price-to-earnings ratio of 30.05, a P/E/G ratio of 2.31 and a beta of 0.46.

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

Philip Morris International Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wall Street Zen lowered Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. UBS Group lowered their price objective on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a research report on Friday, September 5th. Citigroup reiterated a “buy” rating on shares of Philip Morris International in a research note on Thursday, September 4th. Needham & Company LLC reissued a “buy” rating and set a $195.00 target price on shares of Philip Morris International in a research note on Wednesday, July 23rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.