Bahl & Gaynor LLC Makes New Investment in Philip Morris International Inc. $PM

Bahl & Gaynor LLC purchased a new stake in Philip Morris International Inc. (NYSE:PM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 592,898 shares of the company’s stock, valued at approximately $113,137,000.

A number of other large investors have also made changes to their positions in the company. Letson Investment Management Inc. increased its stake in Philip Morris International by 1.1% during the 3rd quarter. Letson Investment Management Inc. now owns 16,174 shares of the company’s stock worth $3,086,000 after purchasing an additional 170 shares in the last quarter. Confluence Wealth Services Inc. lifted its stake in Philip Morris International by 14.8% in the third quarter. Confluence Wealth Services Inc. now owns 32,563 shares of the company’s stock valued at $6,214,000 after buying an additional 4,193 shares in the last quarter. AMG National Trust Bank lifted its stake in Philip Morris International by 1.4% in the third quarter. AMG National Trust Bank now owns 7,246 shares of the company’s stock valued at $1,383,000 after buying an additional 98 shares in the last quarter. Moneco Advisors LLC lifted its stake in Philip Morris International by 1.4% in the third quarter. Moneco Advisors LLC now owns 4,868 shares of the company’s stock valued at $929,000 after buying an additional 66 shares in the last quarter. Finally, Lido Advisors LLC boosted its holdings in shares of Philip Morris International by 27.5% in the third quarter. Lido Advisors LLC now owns 148,483 shares of the company’s stock valued at $28,334,000 after buying an additional 32,043 shares during the period. Institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PM. Barclays increased their price objective on shares of Philip Morris International from $205.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. BTIG Research set a $221.00 price objective on shares of Philip Morris International and gave the company a “buy” rating in a research report on Friday, July 24th. UBS Group upped their target price 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. Weiss Ratings raised shares of Philip Morris International from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, November 4th. Finally, Stifel Nicolaus increased their target price on 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, eight have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Philip Morris International has an average rating of “Moderate Buy” and an average target price of $213.90.

Philip Morris International Stock Performance

NYSE PM opened at $194.31 on Wednesday. The stock has a market capitalization of $302.86 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 2.59 and a beta of 0.34. The stock’s 50 day moving average price is $195.73 and its two-hundred day moving average price is $183.05. Philip Morris International Inc. has a 52 week low of $146.35 and a 52 week high of $214.35.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Wednesday, October 21st. The company reported $2.36 earnings per share 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 company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $11.32 billion. During the same period last year, the business earned $2.24 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities research analysts forecast that Philip Morris International Inc. will post 8.32 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Friday, October 2nd were issued a dividend of $1.60 per share. The ex-dividend date was Friday, October 2nd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.47. This represents a $6.40 annualized dividend and a yield of 3.3%. Philip Morris International’s dividend payout ratio is currently 93.43%.

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.