Philip Morris International Inc. $PM Stock Acquired by Glenview Trust Co

Glenview Trust Co boosted its holdings in Philip Morris International Inc. (NYSE:PM) by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,998 shares of the company’s stock after purchasing an additional 3,236 shares during the quarter. Glenview Trust Co’s holdings in Philip Morris International were worth $15,074,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PM. Caitong International Asset Management Co. Ltd purchased a new position in Philip Morris International during the 2nd quarter worth $29,000. Cedar Mountain Advisors LLC raised its holdings in shares of Philip Morris International by 60.2% in the first quarter. Cedar Mountain Advisors LLC now owns 189 shares of the company’s stock valued at $31,000 after buying an additional 71 shares during the last quarter. Wilkerson Advisory Group LLC raised its holdings in shares of Philip Morris International by 109.2% in the first quarter. Wilkerson Advisory Group LLC now owns 205 shares of the company’s stock valued at $34,000 after buying an additional 107 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA purchased a new stake in shares of Philip Morris International in the second quarter valued at about $34,000. Finally, Kilter Group LLC acquired a new stake in shares of Philip Morris International during the second quarter worth about $35,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PM. Barclays raised their price target on Philip Morris International from $205.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. BTIG Research set a $221.00 price target on Philip Morris International and gave the company a “buy” rating in a research report on Friday, July 24th. Weiss Ratings raised Philip Morris International from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Needham & Company LLC increased their price objective on Philip Morris International from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. Finally, Argus increased their price objective on Philip Morris International from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Monday, October 26th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $209.70.

Philip Morris International Stock Performance

Shares of PM opened at $208.72 on Friday. The stock has a market capitalization of $325.32 billion, a P/E ratio of 30.47, a P/E/G ratio of 2.80 and a beta of 0.34. The company’s fifty day moving average is $194.20 and its two-hundred day moving average is $181.93. Philip Morris International Inc. has a 1 year low of $142.11 and a 1 year high of $214.35.

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

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Friday, October 2nd were issued a dividend of $1.60 per share. This is an increase from Philip Morris International’s previous quarterly dividend of $1.47. This represents a $6.40 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Friday, October 2nd. Philip Morris International’s dividend payout ratio is currently 93.43%.

Philip Morris International Profile

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.