Philip Morris International Inc. $PM Stock: Elite Wealth Management Inc. Grows Position

Elite Wealth Management Inc. increased its position in shares of Philip Morris International Inc. (NYSE:PM) by 144.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,636 shares of the company’s stock after buying an additional 14,543 shares during the quarter. Elite Wealth Management Inc.’s holdings in Philip Morris International were worth $4,701,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PM. Caitong International Asset Management Co. Ltd purchased a new stake in Philip Morris International in the second quarter valued at approximately $29,000. Cedar Mountain Advisors LLC grew its position in shares of Philip Morris International by 60.2% during the first quarter. Cedar Mountain Advisors LLC now owns 189 shares of the company’s stock worth $31,000 after acquiring an additional 71 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA purchased a new position in shares of Philip Morris International during the second quarter worth approximately $34,000. Kilter Group LLC purchased a new position in shares of Philip Morris International during the second quarter worth approximately $35,000. Finally, Wilkerson Advisory Group LLC grew its position in shares of Philip Morris International by 109.2% during the first quarter. Wilkerson Advisory Group LLC now owns 205 shares of the company’s stock worth $34,000 after acquiring an additional 107 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

PM has been the topic of a number of recent research reports. UBS Group lifted their target price on shares of Philip Morris International from $193.00 to $201.00 and gave the company a “neutral” rating in a report on Thursday, October 22nd. Morgan Stanley increased their price target on shares of Philip Morris International from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Needham & Company LLC raised their price objective on shares of Philip Morris International from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. Argus lifted their price objective on shares of Philip Morris International from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, October 26th. Finally, Citigroup upped their target price on shares of Philip Morris International from $210.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.40.

Philip Morris International Trading Down 0.1%

Shares of PM stock opened at $197.76 on Monday. The business’s 50 day moving average is $195.56 and its two-hundred day moving average is $182.81. Philip Morris International Inc. has a twelve month low of $146.35 and a twelve month high of $214.35. The company has a market capitalization of $308.25 billion, a P/E ratio of 28.87, a price-to-earnings-growth ratio of 2.65 and a beta of 0.34.

Philip Morris International (NYSE:PM) last released its earnings results on Wednesday, October 21st. The company reported $2.36 earnings per share (EPS) 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 analyst estimates of $11.32 billion. During the same quarter in the previous year, the company posted $2.24 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, equities analysts predict that Philip Morris International Inc. will post 8.32 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

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

Philip Morris International Profile

Philip Morris International is a global tobacco and nicotine company that develops, manufactures and sells cigarettes and smoke-free products. Its cigarette brands include Marlboro in markets outside the United States, along with other regional and international brands.

The company’s smoke-free portfolio includes IQOS heated tobacco products, ZYN nicotine pouches and VEEV e-vapor products. Philip Morris International sells its products in markets around the world, with availability varying by country and subject to local regulations.

Philip Morris International became an independent publicly traded company in 2008 after separating from Altria Group.