waypoint wealth counsel Increases Position in Philip Morris International Inc. $PM

waypoint wealth counsel raised its stake in Philip Morris International Inc. (NYSE:PM) by 45.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,884 shares of the company’s stock after buying an additional 592 shares during the quarter. waypoint wealth counsel’s holdings in Philip Morris International were worth $343,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Abound Wealth Management increased its stake in shares of Philip Morris International by 566.7% during the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after purchasing an additional 136 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA acquired a new position in shares of Philip Morris International in the first quarter worth $30,000. CBIZ Investment Advisory Services LLC raised its stake in Philip Morris International by 405.0% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock valued at $32,000 after purchasing an additional 162 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Philip Morris International in the first quarter valued at approximately $34,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Philip Morris International in the 1st quarter valued at $35,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PM has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 price objective on shares of Philip Morris International in a research note on Wednesday, July 23rd. Citigroup reiterated a “buy” rating on shares of Philip Morris International in a research note on Thursday, September 4th. UBS Group lowered their price target on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a report on Friday, September 5th. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday. Finally, KGI Securities started coverage on Philip Morris International in a research note on Monday, August 4th. They set an “outperform” rating for the company. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $195.44.

Philip Morris International Price Performance

Shares of PM stock opened at $160.51 on Friday. The firm has a market cap of $249.85 billion, a P/E ratio of 30.52, a P/E/G ratio of 2.34 and a beta of 0.46. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69. The firm has a fifty day moving average of $164.24 and a two-hundred day moving average of $168.77.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The business had revenue of $8.12 billion during the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. On average, sell-side analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be issued a $1.47 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, October 3rd. Philip Morris International’s dividend payout ratio is presently 111.79%.

Philip Morris International Company 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.