Great Lakes Retirement Inc. Purchases New Position in Philip Morris International Inc. $PM

Great Lakes Retirement Inc. acquired a new position in shares of Philip Morris International Inc. (NYSE:PM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,238 shares of the company’s stock, valued at approximately $227,000.

Other institutional investors have also modified their holdings of the company. Abound Wealth Management lifted its position in Philip Morris International by 566.7% in the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after acquiring an additional 136 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA acquired a new stake in shares of Philip Morris International during the first quarter worth about $30,000. Briaud Financial Planning Inc lifted its holdings in shares of Philip Morris International by 266.7% in the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock valued at $30,000 after purchasing an additional 120 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its position in shares of 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 purchasing an additional 162 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of Philip Morris International in the 1st quarter valued at about $34,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

Shares of NYSE PM opened at $144.33 on Friday. The stock has a fifty day moving average price of $160.05 and a 200 day moving average price of $168.86. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69. The company has a market cap of $224.67 billion, a PE ratio of 26.15, a P/E/G ratio of 2.09 and a beta of 0.46.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The firm had revenue of $8.12 billion during the quarter. 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 was paid on Monday, October 20th. Investors of record on Friday, October 3rd were issued a dividend of $1.47 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, October 3rd. Philip Morris International’s dividend payout ratio is 106.52%.

Analyst Ratings Changes

Several research firms have commented on PM. Jefferies Financial Group started coverage on Philip Morris International in a research report on Wednesday, July 9th. They set a “buy” rating and a $220.00 price target on the stock. JPMorgan Chase & Co. lifted their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. The Goldman Sachs Group reiterated a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Citigroup reissued a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $194.00.

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.