Violich Capital Management Inc. Purchases 9,590 Shares of Philip Morris International Inc. $PM

Violich Capital Management Inc. raised its position in Philip Morris International Inc. (NYSE:PM) by 15.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,755 shares of the company’s stock after purchasing an additional 9,590 shares during the quarter. Philip Morris International accounts for about 1.4% of Violich Capital Management Inc.’s holdings, making the stock its 16th biggest holding. Violich Capital Management Inc.’s holdings in Philip Morris International were worth $11,639,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. PFS Partners LLC increased its position in Philip Morris International by 24.8% in the 2nd quarter. PFS Partners LLC now owns 292 shares of the company’s stock valued at $53,000 after acquiring an additional 58 shares during the period. Uncommon Cents Investing LLC grew its stake in shares of Philip Morris International by 1.1% in the second quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company’s stock worth $1,032,000 after purchasing an additional 61 shares during the last quarter. Second Line Capital LLC increased its holdings in Philip Morris International by 4.8% in the second quarter. Second Line Capital LLC now owns 1,338 shares of the company’s stock valued at $245,000 after purchasing an additional 61 shares during the period. Cranbrook Wealth Management LLC raised its position in Philip Morris International by 6.5% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 1,014 shares of the company’s stock worth $185,000 after purchasing an additional 62 shares during the last quarter. Finally, Meridian Wealth Partners LLC lifted its holdings in Philip Morris International by 3.1% during the 2nd quarter. Meridian Wealth Partners LLC now owns 2,060 shares of the company’s stock worth $375,000 after buying an additional 62 shares during the period. 78.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PM. Wall Street Zen cut Philip Morris International from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Barclays decreased their target price on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a research report on Monday, November 17th. Stifel Nicolaus set a $180.00 price objective on shares of Philip Morris International in a research note on Tuesday, October 21st. Morgan Stanley set a $175.00 price objective on shares of Philip Morris International and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $189.00.

Philip Morris International Stock Up 0.6%

NYSE PM opened at $173.66 on Monday. Philip Morris International Inc. has a 52 week low of $119.30 and a 52 week high of $186.69. The business has a 50 day moving average price of $157.72 and a 200-day moving average price of $161.66. The company has a market cap of $270.33 billion, a price-to-earnings ratio of 31.46, a P/E/G ratio of 1.87 and a beta of 0.40.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Friday, October 24th. The company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.14. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. The business had revenue of $10.85 billion during the quarter, compared to the consensus estimate of $10.67 billion. During the same quarter last year, the firm posted $1.91 EPS. Philip Morris International’s revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Friday, December 26th were given a $1.47 dividend. The ex-dividend date of this dividend was Friday, December 26th. This represents a $5.88 annualized dividend and a yield of 3.4%. Philip Morris International’s dividend payout ratio (DPR) is presently 106.52%.

Philip Morris International Profile

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.