Philip Morris International Inc. $PM Shares Bought by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC raised its stake in Philip Morris International Inc. (NYSE:PM) by 9.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 32,332 shares of the company’s stock after acquiring an additional 2,822 shares during the quarter. Philip Morris International accounts for about 0.9% of Beverly Hills Private Wealth LLC’s portfolio, making the stock its 27th largest position. Beverly Hills Private Wealth LLC’s holdings in Philip Morris International were worth $6,170,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of PM. Financial Network Wealth Advisors LLC lifted its position in Philip Morris International by 9.9% during the 3rd quarter. Financial Network Wealth Advisors LLC now owns 620 shares of the company’s stock worth $118,000 after acquiring an additional 56 shares in the last quarter. Hughes Financial Services LLC boosted its holdings in Philip Morris International by 8.4% in the 3rd quarter. Hughes Financial Services LLC now owns 719 shares of the company’s stock worth $150,000 after acquiring an additional 56 shares during the period. Platt Wealth Management LLC boosted its holdings in Philip Morris International by 2.1% in the 2nd quarter. Platt Wealth Management LLC now owns 2,833 shares of the company’s stock worth $512,000 after acquiring an additional 58 shares during the period. Security Financial Services INC. grew its position in Philip Morris International by 2.2% in the third quarter. Security Financial Services INC. now owns 2,978 shares of the company’s stock valued at $568,000 after acquiring an additional 64 shares in the last quarter. Finally, Shepherd Financial Partners LLC grew its position in Philip Morris International by 4.9% in the third quarter. Shepherd Financial Partners LLC now owns 1,365 shares of the company’s stock valued at $260,000 after acquiring an additional 64 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Shares of Philip Morris International stock opened at $197.76 on Monday. The firm has a market cap of $308.25 billion, a PE ratio of 28.87, a price-to-earnings-growth ratio of 2.65 and a beta of 0.34. The firm’s 50-day simple moving average is $195.56 and its 200-day simple moving average is $182.81. Philip Morris International Inc. has a 1 year low of $146.35 and a 1 year high of $214.35.

Philip Morris International (NYSE:PM) last issued its earnings results on Wednesday, October 21st. The company reported $2.36 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $11.32 billion. During the same quarter last year, the firm earned $2.24 EPS. The business’s revenue was up 5.5% on a year-over-year basis. On average, equities analysts predict that Philip Morris International Inc. will post 8.32 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Friday, October 2nd were issued a $1.60 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.47. 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 3.2%. Philip Morris International’s dividend payout ratio is 93.43%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. 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 report on Thursday, July 30th. Needham & Company LLC raised their price target on shares of Philip Morris International from $215.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. UBS Group lifted their price target on shares of Philip Morris International from $193.00 to $201.00 and gave the stock a “neutral” rating in a research note on Thursday, October 22nd. Barclays boosted their price objective on shares of Philip Morris International from $205.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Finally, Stifel Nicolaus boosted their price objective on shares of Philip Morris International from $205.00 to $232.00 and gave the stock a “buy” rating in a report on Tuesday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $212.40.

Philip Morris International Company Profile

Philip Morris International is a global tobacco and nicotine company that develops, manufactures and sells cigarettes and smoke-free products. Its cigarette brands include Marlboro in markets outside the United States, along with other regional and international brands.

The company’s smoke-free portfolio includes IQOS heated tobacco products, ZYN nicotine pouches and VEEV e-vapor products. Philip Morris International sells its products in markets around the world, with availability varying by country and subject to local regulations.

Philip Morris International became an independent publicly traded company in 2008 after separating from Altria Group.