Strait & Sound Wealth Management LLC Grows Position in Philip Morris International Inc. $PM

Strait & Sound Wealth Management LLC boosted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 29.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,978 shares of the company’s stock after buying an additional 680 shares during the quarter. Strait & Sound Wealth Management LLC’s holdings in Philip Morris International were worth $542,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC lifted its holdings in Philip Morris International by 3.1% during the 2nd quarter. Whipplewood Advisors LLC now owns 2,295 shares of the company’s stock valued at $418,000 after buying an additional 70 shares in the last quarter. Schneider Downs Wealth Management Advisors LP bought a new stake in Philip Morris International during the 2nd quarter valued at about $279,000. Brighton Jones LLC lifted its holdings in Philip Morris International by 39.4% during the 2nd quarter. Brighton Jones LLC now owns 32,224 shares of the company’s stock valued at $5,869,000 after buying an additional 9,110 shares in the last quarter. MQS Management LLC purchased a new stake in Philip Morris International during the second quarter valued at approximately $792,000. Finally, Leavell Investment Management Inc. lifted its position in Philip Morris International by 3.2% during the second quarter. Leavell Investment Management Inc. now owns 11,142 shares of the company’s stock valued at $2,044,000 after acquiring an additional 349 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a research report on Wednesday. JPMorgan Chase & Co. boosted their target price 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. Stifel Nicolaus set a $180.00 target price on Philip Morris International in a research note on Tuesday. KGI Securities started coverage on shares of Philip Morris International in a research report on Monday, August 4th. They set an “outperform” rating on the stock. Finally, Jefferies Financial Group started coverage on shares of Philip Morris International in a research report on Wednesday, July 9th. They set a “buy” rating and a $220.00 target price on the stock. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $194.00.

Philip Morris International Price Performance

PM stock opened at $157.69 on Friday. The firm’s fifty day simple moving average is $162.32 and its 200-day simple moving average is $168.98. The company has a market capitalization of $245.45 billion, a P/E ratio of 28.57, a price-to-earnings-growth ratio of 2.30 and a beta of 0.46. 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 released 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 for the quarter. Philip Morris International had a net margin of 11.02% and a negative return on equity of 122.14%. As a group, sell-side analysts forecast 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 disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were issued a $1.47 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. 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%. Philip Morris International’s payout ratio 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.