Hobart Private Capital LLC Purchases Shares of 1,715 Philip Morris International Inc. $PM

Hobart Private Capital LLC purchased a new stake in shares of Philip Morris International Inc. (NYSE:PM) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,715 shares of the company’s stock, valued at approximately $312,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Philip Morris International by 0.9% in the first quarter. Vanguard Group Inc. now owns 140,621,675 shares of the company’s stock worth $22,320,878,000 after purchasing an additional 1,189,283 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Philip Morris International by 26.4% in the first quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock worth $3,466,730,000 after purchasing an additional 4,563,632 shares during the last quarter. WCM Investment Management LLC grew its holdings in shares of Philip Morris International by 24,968.0% in the second quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock worth $2,041,223,000 after purchasing an additional 11,230,626 shares during the last quarter. Nuveen LLC bought a new position in shares of Philip Morris International in the first quarter worth approximately $1,712,994,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Philip Morris International by 57.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock worth $1,554,686,000 after purchasing an additional 3,575,158 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Trading Down 0.0%

Shares of Philip Morris International stock opened at $157.69 on Friday. The firm has a market capitalization of $245.45 billion, a P/E ratio of 28.57, a P/E/G ratio of 2.30 and a beta of 0.46. The business has a fifty day simple moving average of $162.32 and a two-hundred day simple moving average of $168.83. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data 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 122.14% and a net margin of 11.02%. Analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were given a $1.47 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $5.88 annualized dividend and a dividend yield of 3.7%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s payout ratio is presently 106.52%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PM shares. Jefferies Financial Group started coverage on shares of Philip Morris International in a report on Wednesday, July 9th. They issued a “buy” rating and a $220.00 target price on the stock. JPMorgan Chase & Co. raised their price target on Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Morgan Stanley set a $175.00 price target on Philip Morris International and gave the stock an “overweight” rating in a research note on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $195.00 price target on shares of Philip Morris International in a research note on Wednesday, July 23rd. Finally, Stifel Nicolaus set a $180.00 price target on Philip Morris International in a research note on Tuesday. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and a consensus target price of $194.00.

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.