Philip Morris International Inc. $PM Stock Sold by Avestar Capital LLC

Avestar Capital LLC lowered its position in Philip Morris International Inc. (NYSE:PM) by 71.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,014 shares of the company’s stock after selling 56,155 shares during the quarter. Avestar Capital LLC’s holdings in Philip Morris International were worth $4,201,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of Philip Morris International in the 2nd quarter worth about $29,000. Cedar Mountain Advisors LLC increased 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 valued at $31,000 after purchasing an additional 71 shares during the period. Kelly Lawrence W & Associates Inc. CA bought a new position in Philip Morris International during the 2nd quarter valued at approximately $34,000. Kilter Group LLC purchased a new stake in Philip Morris International in the 2nd quarter worth approximately $35,000. Finally, Wilkerson Advisory Group LLC increased its stake in shares of Philip Morris International by 109.2% during the first quarter. Wilkerson Advisory Group LLC now owns 205 shares of the company’s stock valued at $34,000 after buying an additional 107 shares during the period. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Philip Morris International stock opened at $208.72 on Friday. The business’s 50-day simple moving average is $194.20 and its two-hundred day simple moving average is $181.93. Philip Morris International Inc. has a fifty-two week low of $142.11 and a fifty-two week high of $214.35. The company has a market cap of $325.32 billion, a PE ratio of 25.36, a PEG ratio of 2.80 and a beta of 0.34.

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

Philip Morris International Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on PM. Stifel Nicolaus raised their price objective on shares of Philip Morris International from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. UBS Group raised their target price on Philip Morris International from $193.00 to $201.00 and gave the company a “neutral” rating in a research note on Thursday, October 22nd. Needham & Company LLC upped their target price on shares of Philip Morris International from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. Morgan Stanley upped their target price on shares of Philip Morris International from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Finally, Barclays raised their price objective on Philip Morris International from $205.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $209.70.

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.