Cobblestone Capital Advisors LLC NY Grows Holdings in Philip Morris International Inc. $PM

Cobblestone Capital Advisors LLC NY increased its position in Philip Morris International Inc. (NYSE:PM) by 16.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 4,555 shares of the company’s stock after buying an additional 636 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in Philip Morris International were worth $830,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Abound Wealth Management grew its position in shares of Philip Morris International by 566.7% during the second 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 purchased a new stake in shares of Philip Morris International during the first quarter worth about $30,000. Briaud Financial Planning Inc grew its stake in Philip Morris International by 266.7% during the second quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock valued at $30,000 after acquiring an additional 120 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its position 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 purchasing an additional 162 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Philip Morris International during the first quarter valued at about $34,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PM. Barclays cut their target price on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. UBS Group cut 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 report on Thursday, September 4th. Finally, Morgan Stanley set a $175.00 price objective on Philip Morris International and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $194.00.

Philip Morris International Stock Performance

Shares of PM opened at $153.35 on Tuesday. The company has a 50 day moving average price of $162.06 and a 200-day moving average price of $169.11. The stock has a market capitalization of $238.70 billion, a PE ratio of 27.78, a PEG ratio of 2.28 and a beta of 0.46. Philip Morris International Inc. has a fifty-two week low of $116.12 and a fifty-two week high of $186.69.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. The company had revenue of $8.12 billion during the quarter. Equities research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 3.8%. The ex-dividend date was 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 presently 106.52%.

Philip Morris International Company 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.