Transcend Capital Advisors LLC Raises Stake in Philip Morris International Inc. $PM

Transcend Capital Advisors LLC increased its holdings in Philip Morris International Inc. (NYSE:PM) by 30.9% in the second quarter, Holdings Channel reports. The fund owned 9,761 shares of the company’s stock after purchasing an additional 2,307 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Philip Morris International were worth $1,778,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PM. Brighton Jones LLC lifted its stake in Philip Morris International by 31.1% in the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock worth $1,027,000 after acquiring an additional 2,023 shares during the period. Revolve Wealth Partners LLC lifted its stake in Philip Morris International by 4.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock worth $252,000 after acquiring an additional 91 shares during the period. Highland Capital Management LLC lifted its stake in Philip Morris International by 18.3% in the first quarter. Highland Capital Management LLC now owns 2,136 shares of the company’s stock worth $339,000 after acquiring an additional 330 shares during the period. Sovran Advisors LLC lifted its stake in Philip Morris International by 40.5% in the first quarter. Sovran Advisors LLC now owns 3,398 shares of the company’s stock worth $555,000 after acquiring an additional 979 shares during the period. Finally, Naviter Wealth LLC purchased a new stake in Philip Morris International in the first quarter worth about $327,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Stock Down 2.7%

PM opened at $153.35 on Tuesday. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69. The company has a market cap of $238.70 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 2.28 and a beta of 0.46. The firm’s 50-day moving average price is $162.06 and its 200-day moving average price is $169.11.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. The firm had revenue of $8.12 billion for the quarter. On average, research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal 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 issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.8%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, October 3rd. Philip Morris International’s dividend payout ratio is currently 106.52%.

Wall Street Analyst Weigh In

PM has been the subject of a number of research reports. JPMorgan Chase & Co. upped their price objective on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. UBS Group reduced their target price 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. Jefferies Financial Group began 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 for the company. Morgan Stanley set a $175.00 target price on shares of Philip Morris International and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $195.00 target price on shares of Philip Morris International in a report on Wednesday, July 23rd. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $194.00.

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.