JGP Wealth Management LLC Takes $202,000 Position in Philip Morris International Inc. $PM

JGP Wealth Management LLC bought a new stake in shares of Philip Morris International Inc. (NYSE:PM) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,108 shares of the company’s stock, valued at approximately $202,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PM. Brighton Jones LLC increased its holdings in Philip Morris International by 31.1% in the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock worth $1,027,000 after acquiring an additional 2,023 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in Philip Morris International by 4.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock worth $252,000 after acquiring an additional 91 shares in the last quarter. GAMMA Investing LLC increased its holdings in Philip Morris International by 26.5% in the 1st quarter. GAMMA Investing LLC now owns 28,268 shares of the company’s stock worth $4,487,000 after acquiring an additional 5,930 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Philip Morris International by 24.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company’s stock worth $69,695,000 after acquiring an additional 87,631 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG purchased a new stake in Philip Morris International in the 1st quarter worth $294,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Trading Down 0.2%

Shares of PM stock opened at $159.08 on Wednesday. The company’s 50-day moving average price is $164.07 and its 200-day moving average price is $168.83. The stock has a market cap of $247.62 billion, a price-to-earnings ratio of 30.24, a PEG ratio of 2.33 and a beta of 0.46. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. The firm had revenue of $8.12 billion for the quarter. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. As a group, equities research analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio is presently 111.79%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Philip Morris International in a report on Wednesday, July 9th. They issued a “buy” rating and a $220.00 price target for the company. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. Barclays dropped their target price on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. KGI Securities started coverage on shares of Philip Morris International in a report on Monday, August 4th. They set an “outperform” rating for the company. Finally, Wall Street Zen lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $195.44.

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.