Leo Wealth LLC Acquires New Holdings in Philip Morris International Inc. $PM

Leo Wealth LLC bought a new position in shares of Philip Morris International Inc. (NYSE:PM) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,302 shares of the company’s stock, valued at approximately $821,000.

A number of other large investors have also bought and sold shares of PM. BlackRock Inc. boosted its holdings in shares of Philip Morris International by 0.4% in the second quarter. BlackRock Inc. now owns 108,039,522 shares of the company’s stock valued at $19,545,430,000 after buying an additional 444,449 shares during the period. State Street Corp increased its position in shares of Philip Morris International by 1.0% during the second quarter. State Street Corp now owns 55,569,994 shares of the company’s stock worth $10,134,454,000 after acquiring an additional 536,968 shares in the last quarter. GQG Partners LLC acquired a new stake in shares of Philip Morris International during the second quarter worth $8,220,008,000. Wellington Management Group LLP raised its holdings in shares of Philip Morris International by 3.9% during the second quarter. Wellington Management Group LLP now owns 17,506,171 shares of the company’s stock worth $3,167,041,000 after acquiring an additional 650,587 shares during the period. Finally, Bank of America Corp DE lifted its position in Philip Morris International by 12.0% in the 1st quarter. Bank of America Corp DE now owns 17,230,669 shares of the company’s stock valued at $2,848,919,000 after acquiring an additional 1,847,421 shares in the last quarter. 78.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PM has been the topic of several research reports. Citigroup boosted their price objective on shares of Philip Morris International from $210.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Morgan Stanley increased their target price on Philip Morris International from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. UBS Group lifted their price target on Philip Morris International from $193.00 to $201.00 and gave the company a “neutral” rating in a research note on Thursday. BTIG Research set a $221.00 price target on Philip Morris International and gave the company a “buy” rating in a report on Friday, July 24th. Finally, Needham & Company LLC upped their price objective on Philip Morris International from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $209.70.

Philip Morris International Stock Up 1.4%

NYSE PM opened at $202.34 on Tuesday. The firm’s 50 day moving average is $192.59 and its 200-day moving average is $180.79. The company has a market capitalization of $315.38 billion, a PE ratio of 24.27, a price-to-earnings-growth ratio of 2.61 and a beta of 0.34. Philip Morris International Inc. has a 12-month low of $142.11 and a 12-month high of $210.45.

Philip Morris International (NYSE:PM) last announced 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. The business had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $11.32 billion. Philip Morris International had a net margin of 10.73% and a negative return on equity of 183.96%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.24 earnings per share. As a group, sell-side analysts expect that Philip Morris International Inc. will post 8.32 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Friday, October 2nd were paid a dividend of $1.60 per share. The ex-dividend date was Friday, October 2nd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.2%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.47. 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.