C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Has $1.47 Million Stake in Philip Morris International Inc. $PM

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors trimmed its position in Philip Morris International Inc. (NYSE:PM) by 20.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,064 shares of the company’s stock after selling 2,128 shares during the quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Philip Morris International were worth $1,469,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PM. Brighton Jones LLC raised its stake in shares of Philip Morris International by 31.1% in the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock valued at $1,027,000 after purchasing an additional 2,023 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in Philip Morris International by 4.5% during 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 in the last quarter. Capstone Wealth Management Group LLC acquired a new position in Philip Morris International during the first quarter worth $238,000. Aurora Private Wealth Inc. acquired a new position in Philip Morris International during the first quarter worth $257,000. Finally, Calamos Wealth Management LLC raised its stake in Philip Morris International by 10.5% during the first quarter. Calamos Wealth Management LLC now owns 5,256 shares of the company’s stock worth $834,000 after acquiring an additional 500 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PM shares. The Goldman Sachs Group reiterated a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. UBS Group dropped their price objective on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research note on Friday, September 5th. JPMorgan Chase & Co. increased their price objective 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. Jefferies Financial Group started coverage on Philip Morris International in a research note on Wednesday, July 9th. They set a “buy” rating and a $220.00 price objective for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $195.00 price objective on shares of Philip Morris International in a research note on Wednesday, July 23rd. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $194.00.

Philip Morris International Stock Down 1.0%

Shares of NYSE:PM opened at $144.33 on Friday. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69. The company’s 50-day moving average price is $160.05 and its two-hundred day moving average price is $168.86. The firm has a market cap of $224.67 billion, a P/E ratio of 26.15, a P/E/G ratio of 2.09 and a beta of 0.46.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 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. As a group, equities analysts predict that Philip Morris International Inc. will post 7.14 earnings per share 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. Shareholders of record on Friday, October 3rd were issued a dividend of $1.47 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a yield of 4.1%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. 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.