Leo Wealth LLC Purchases New Stake in Philip Morris International Inc. $PM

Leo Wealth LLC acquired a new position in shares of Philip Morris International Inc. (NYSE:PM) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,302 shares of the company’s stock, valued at approximately $821,000.

Other large investors also recently made changes to their positions in the company. GQG Partners LLC bought a new position in shares of Philip Morris International in the second quarter valued at $8,220,008,000. Bank of America Corp DE acquired a new position in Philip Morris International during the second quarter worth $3,075,267,000. Legal & General Group Plc bought a new stake in Philip Morris International during the second quarter worth $1,316,151,000. Jupiter Topco LLC bought a new stake in Philip Morris International during the second quarter worth $726,464,000. Finally, Bank of New York Mellon Corp raised its position in Philip Morris International by 30.9% during the second quarter. Bank of New York Mellon Corp now owns 11,669,878 shares of the company’s stock worth $2,111,198,000 after acquiring an additional 2,755,662 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Trading Up 1.4%

PM stock opened at $202.34 on Tuesday. The firm has a market capitalization of $315.38 billion, a PE ratio of 24.27, a PEG ratio of 2.61 and a beta of 0.34. Philip Morris International Inc. has a 1-year low of $142.11 and a 1-year high of $210.45. The business’s 50 day simple moving average is $192.59 and its 200 day simple moving average is $180.79.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Wednesday, October 21st. The company reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.06. Philip Morris International had a negative return on equity of 183.96% and a net margin of 10.73%. The business had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $11.32 billion. During the same quarter in the prior year, the business earned $2.24 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, sell-side analysts predict that Philip Morris International Inc. will post 8.32 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Friday, October 2nd were given a $1.60 dividend. The ex-dividend date of this dividend was Friday, October 2nd. This is a boost from Philip Morris International’s previous quarterly dividend of $1.47. This represents a $6.40 annualized dividend and a dividend yield of 3.2%. Philip Morris International’s payout ratio is currently 93.43%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PM. UBS Group increased their price target on shares of Philip Morris International from $193.00 to $201.00 and gave the company a “neutral” rating in a research note on Thursday. Morgan Stanley upped their target price on shares of Philip Morris International from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Needham & Company LLC upped their target price on shares of Philip Morris International from $215.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. Citigroup raised their target price on shares of Philip Morris International from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, BTIG Research set a $221.00 price target on Philip Morris International and gave the stock a “buy” rating in a report on Friday, July 24th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $209.70.

About Philip Morris International

Philip Morris International Inc (NYSE:PM) is a global tobacco and nicotine company headquartered in Stamford, Connecticut. It was established as an independent company in 2008 following the separation of Philip Morris International from Altria Group. The company develops, manufactures and markets tobacco, nicotine and other related consumer products primarily outside the United States.

Its portfolio includes internationally recognized cigarette brands such as Marlboro, Parliament, L&M, Chesterfield and Bond Street.