Ethic Inc. Has $6.77 Million Stock Position in Philip Morris International Inc. $PM

Ethic Inc. increased its position in Philip Morris International Inc. (NYSE:PM) by 13.2% in the second quarter, Holdings Channel.com reports. The firm owned 37,406 shares of the company’s stock after acquiring an additional 4,350 shares during the period. Ethic Inc.’s holdings in Philip Morris International were worth $6,772,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PM. Abound Wealth Management grew its position 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 buying an additional 136 shares during the period. Kelly Lawrence W & Associates Inc. CA acquired a new position in shares of Philip Morris International during the 1st quarter worth about $30,000. CBIZ Investment Advisory Services LLC grew its position in shares of Philip Morris International by 405.0% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock worth $32,000 after buying an additional 162 shares during the period. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Philip Morris International during the 1st quarter worth about $34,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Philip Morris International during the 1st quarter worth about $35,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on PM. Needham & Company LLC restated a “buy” rating and set a $195.00 target price on shares of Philip Morris International in a research report on Wednesday, July 23rd. Barclays decreased their target price on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Wall Street Zen lowered Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. UBS Group decreased their target price on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research report on Friday, September 5th. Finally, KGI Securities initiated coverage on Philip Morris International in a research report on Monday, August 4th. They issued an “outperform” rating for the company. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $194.00.

Philip Morris International Stock Performance

NYSE PM opened at $156.91 on Thursday. The stock has a market capitalization of $244.25 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 2.22 and a beta of 0.46. The stock’s 50 day moving average price is $162.64 and its two-hundred day moving average price is $168.72. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The firm had revenue of $8.12 billion for the quarter. Philip Morris International had a negative return on equity of 120.17% and a net margin of 9.03%. On average, equities research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were paid a dividend of $1.47 per share. The ex-dividend date was Friday, October 3rd. This represents a $5.88 dividend on an annualized basis 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 currently 106.52%.

About Philip Morris International

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.