Kingswood Wealth Advisors LLC Increases Stake in Philip Morris International Inc. (NYSE:PM)

Kingswood Wealth Advisors LLC raised its position in Philip Morris International Inc. (NYSE:PM) by 278.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 25,257 shares of the company’s stock after purchasing an additional 18,583 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Philip Morris International were worth $4,000,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NewSquare Capital LLC raised its holdings in shares of Philip Morris International by 53.7% during the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock worth $25,000 after acquiring an additional 72 shares during the period. Pacifica Partners Inc. raised its holdings in shares of Philip Morris International by 115.0% during the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company’s stock worth $35,000 after acquiring an additional 115 shares during the period. Knuff & Co LLC purchased a new position in shares of Philip Morris International during the 4th quarter worth $36,000. Ball & Co Wealth Management Inc. purchased a new position in shares of Philip Morris International during the 4th quarter worth $36,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Philip Morris International during the 4th quarter worth $36,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Stifel Nicolaus lifted their price target on Philip Morris International from $168.00 to $186.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. Barclays reissued an “overweight” rating and set a $220.00 price objective (up from $205.00) on shares of Philip Morris International in a research report on Friday, June 13th. JPMorgan Chase & Co. raised their price objective on Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Bank of America raised their price objective on Philip Morris International from $182.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Finally, Citigroup raised their price objective on Philip Morris International from $163.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 16th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and an average price target of $176.80.

Philip Morris International Price Performance

NYSE PM opened at $183.50 on Wednesday. The company has a market cap of $285.63 billion, a P/E ratio of 37.84, a P/E/G ratio of 2.66 and a beta of 0.52. The stock has a 50-day moving average of $172.01 and a two-hundred day moving average of $150.05. Philip Morris International Inc. has a 1-year low of $98.93 and a 1-year high of $186.69.

Philip Morris International (NYSE:PM) last released its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.08. The company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.10 billion. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. Philip Morris International’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.50 EPS. On average, analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International’s dividend payout ratio is presently 111.34%.

Philip Morris International Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.