Sharp Financial Services LLC Buys 422 Shares of Philip Morris International Inc. $PM

Sharp Financial Services LLC boosted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 22.4% during the second quarter, Holdings Channel reports. The firm owned 2,306 shares of the company’s stock after purchasing an additional 422 shares during the quarter. Sharp Financial Services LLC’s holdings in Philip Morris International were worth $420,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. PFS Partners LLC boosted its stake in shares of Philip Morris International by 24.8% during the 2nd quarter. PFS Partners LLC now owns 292 shares of the company’s stock worth $53,000 after purchasing an additional 58 shares during the period. Perigon Wealth Management LLC boosted its stake in shares of Philip Morris International by 0.4% during the 1st quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company’s stock worth $2,236,000 after purchasing an additional 60 shares during the period. TBH Global Asset Management LLC boosted its stake in shares of Philip Morris International by 0.9% during the 1st quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company’s stock worth $1,100,000 after purchasing an additional 61 shares during the period. Uncommon Cents Investing LLC boosted its stake in shares of Philip Morris International by 1.1% during the 2nd quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company’s stock worth $1,032,000 after purchasing an additional 61 shares during the period. Finally, NFP Retirement Inc. boosted its stake in shares of Philip Morris International by 2.5% during the 1st quarter. NFP Retirement Inc. now owns 2,589 shares of the company’s stock worth $411,000 after purchasing an additional 62 shares during the period. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Price Performance

Philip Morris International stock opened at $160.51 on Monday. The stock has a market cap of $249.85 billion, a price-to-earnings ratio of 30.52, a price-to-earnings-growth 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 50-day moving average of $164.24 and a two-hundred day moving average of $168.87.

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

Philip Morris International Increases Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 price target on shares of Philip Morris International in a research note on Wednesday, July 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Citigroup reissued a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Wall Street Zen cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Jefferies Financial Group assumed coverage on shares of Philip Morris International in a research report on Wednesday, July 9th. They issued a “buy” rating and a $220.00 price objective for the company. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $195.44.

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.