Philip Morris International Inc. $PM Stock Bought by Partners Wealth Management LLC

Partners Wealth Management LLC increased its holdings in Philip Morris International Inc. (NYSE:PM) by 162.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,844 shares of the company’s stock after purchasing an additional 4,850 shares during the quarter. Partners Wealth Management LLC’s holdings in Philip Morris International were worth $1,497,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. GQG Partners LLC purchased a new stake in shares of Philip Morris International in the second quarter valued at approximately $8,220,008,000. Bank of America Corp DE acquired a new position in shares of Philip Morris International during the 2nd quarter worth approximately $3,075,267,000. Legal & General Group Plc acquired a new position in shares of Philip Morris International during the 2nd quarter worth approximately $1,316,151,000. Jupiter Topco LLC acquired a new position in shares of Philip Morris International during the 2nd quarter worth approximately $726,464,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Philip Morris International by 30.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 11,669,878 shares of the company’s stock valued at $2,111,198,000 after buying an additional 2,755,662 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Barclays lifted their price target on shares of Philip Morris International from $205.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Argus upped their price objective on shares of Philip Morris International from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Monday, October 26th. UBS Group increased their price objective 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. Stifel Nicolaus lifted their target price on shares of Philip Morris International from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Finally, Citigroup boosted their target price on shares of Philip Morris International from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.70.

Philip Morris International Stock Performance

NYSE PM opened at $208.72 on Friday. The business has a fifty day moving average price of $194.20 and a 200 day moving average price of $181.93. Philip Morris International Inc. has a one year low of $142.11 and a one year high of $214.35. The company has a market cap 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.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Wednesday, October 21st. The company reported $2.36 earnings per share 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 company had revenue of $11.44 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same quarter last year, the firm posted $2.24 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, sell-side analysts predict that Philip Morris International Inc. will post 8.32 EPS for the current fiscal year.

Philip Morris International Increases Dividend

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

Philip Morris International Company Profile

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.