Glenview Trust Co Purchases 3,236 Shares of Philip Morris International Inc. $PM

Glenview Trust Co lifted its position in shares of 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. The fund owned 78,998 shares of the company’s stock after purchasing an additional 3,236 shares during the period. Glenview Trust Co’s holdings in Philip Morris International were worth $15,074,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PM. Caitong International Asset Management Co. Ltd acquired a new stake in Philip Morris International in the second quarter valued at $29,000. Cedar Mountain Advisors LLC lifted its holdings in Philip Morris International by 60.2% during the 1st quarter. Cedar Mountain Advisors LLC now owns 189 shares of the company’s stock worth $31,000 after buying an additional 71 shares during the last quarter. Wilkerson Advisory Group LLC lifted its holdings in Philip Morris International by 109.2% during the 1st quarter. Wilkerson Advisory Group LLC now owns 205 shares of the company’s stock worth $34,000 after buying an additional 107 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA purchased a new stake in Philip Morris International during the 2nd quarter worth about $34,000. Finally, Kilter Group LLC acquired a new position in shares of Philip Morris International during the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. UBS Group increased their price objective on Philip Morris International from $193.00 to $201.00 and gave the company a “neutral” rating in a report on Thursday, October 22nd. Needham & Company LLC boosted their target price on Philip Morris International from $215.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, October 22nd. Weiss Ratings raised Philip Morris International from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Morgan Stanley increased their price target on shares of Philip Morris International from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Finally, Stifel Nicolaus increased their price target on shares of Philip Morris International from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $209.70.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $208.72 on Friday. Philip Morris International Inc. has a 12 month low of $142.11 and a 12 month high of $214.35. The firm 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 price is $194.20 and its 200 day moving average price is $181.93.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Wednesday, October 21st. The company reported $2.36 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $11.32 billion. During the same quarter in the prior year, the firm posted $2.24 earnings per share. Philip Morris International’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, sell-side analysts anticipate that Philip Morris International Inc. will post 8.32 EPS for the current year.

Philip Morris International Increases Dividend

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

About Philip Morris International

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.