RiverFront Investment Group LLC Has $5 Million Stock Position in Philip Morris International Inc. $PM

RiverFront Investment Group LLC lifted its holdings in Philip Morris International Inc. (NYSE:PM) by 7.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,429 shares of the company’s stock after acquiring an additional 1,820 shares during the period. RiverFront Investment Group LLC’s holdings in Philip Morris International were worth $4,996,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of PM. XTX Topco Ltd increased its holdings in shares of Philip Morris International by 1,238.1% during the second quarter. XTX Topco Ltd now owns 96,250 shares of the company’s stock worth $17,530,000 after purchasing an additional 89,057 shares during the period. Steward Partners Investment Advisory LLC grew its position in Philip Morris International by 6.2% during the second quarter. Steward Partners Investment Advisory LLC now owns 122,310 shares of the company’s stock worth $22,276,000 after buying an additional 7,137 shares in the last quarter. South Plains Financial Inc. increased its stake in Philip Morris International by 91.9% during the 2nd quarter. South Plains Financial Inc. now owns 213 shares of the company’s stock worth $39,000 after acquiring an additional 102 shares during the period. Jaffetilchin Investment Partners LLC raised its holdings in Philip Morris International by 11.7% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 17,718 shares of the company’s stock valued at $3,227,000 after acquiring an additional 1,858 shares in the last quarter. Finally, Insigneo Advisory Services LLC raised its holdings in Philip Morris International by 8.7% in the 2nd quarter. Insigneo Advisory Services LLC now owns 9,931 shares of the company’s stock valued at $1,809,000 after acquiring an additional 793 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Stifel Nicolaus set a $180.00 price target on Philip Morris International in a research report on Tuesday, October 21st. Barclays reduced their price objective on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a research note on Monday, November 17th. Morgan Stanley set a $175.00 target price on shares of Philip Morris International and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Citigroup reiterated a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Finally, KGI Securities assumed coverage on shares of Philip Morris International in a research report on Monday, August 4th. They set an “outperform” rating for the company. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $189.56.

Philip Morris International Trading Down 2.9%

PM stock opened at $150.75 on Tuesday. The stock has a 50-day moving average price of $156.20 and a 200-day moving average price of $167.09. The firm has a market cap of $234.67 billion, a PE ratio of 27.31, a price-to-earnings-growth ratio of 1.83 and a beta of 0.43. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. The company had revenue of $8.12 billion for the quarter. On average, analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Friday, October 3rd. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s payout ratio is 106.52%.

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.