Parkside Financial Bank & Trust Boosts Stock Holdings in Philip Morris International Inc. $PM

Parkside Financial Bank & Trust increased its position in Philip Morris International Inc. (NYSE:PM) by 8.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,037 shares of the company’s stock after acquiring an additional 968 shares during the period. Parkside Financial Bank & Trust’s holdings in Philip Morris International were worth $2,374,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in shares of Philip Morris International during the second quarter valued at $25,000. Abound Wealth Management raised its position in Philip Morris International by 566.7% in the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after buying an additional 136 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new position in Philip Morris International during the 1st quarter valued at about $30,000. Briaud Financial Planning Inc boosted its holdings in shares of Philip Morris International by 266.7% during the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock valued at $30,000 after acquiring an additional 120 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC grew its stake in shares of Philip Morris International by 405.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock worth $32,000 after acquiring an additional 162 shares during the period. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PM. Needham & Company LLC restated a “buy” rating and issued a $195.00 target price on shares of Philip Morris International in a report on Wednesday, July 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Barclays cut their price objective on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Wall Street Zen raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Finally, Citigroup restated a “buy” rating on shares of Philip Morris International in a research note on Thursday, September 4th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $194.00.

Philip Morris International Trading Up 2.2%

Shares of NYSE:PM opened at $153.26 on Friday. The stock has a 50 day moving average of $158.30 and a 200 day moving average of $168.34. The company has a market cap of $238.58 billion, a PE ratio of 27.77, a price-to-earnings-growth ratio of 2.17 and a beta of 0.43. Philip Morris International Inc. has a 12-month low of $116.12 and a 12-month high of $186.69.

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. The business had revenue of $8.12 billion for the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. Equities research analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Friday, October 3rd. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio (DPR) is currently 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.