Prosperity Consulting Group LLC Acquires 446 Shares of Philip Morris International Inc. $PM

Prosperity Consulting Group LLC lifted its holdings in Philip Morris International Inc. (NYSE:PM) by 2.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 21,784 shares of the company’s stock after purchasing an additional 446 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Philip Morris International were worth $3,968,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its holdings in Philip Morris International by 31.1% during the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock worth $1,027,000 after purchasing an additional 2,023 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in Philip Morris International by 4.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock worth $252,000 after purchasing an additional 91 shares during the last quarter. Capstone Wealth Management Group LLC bought a new stake in Philip Morris International during the 1st quarter worth about $238,000. Silver Oak Securities Incorporated bought a new stake in Philip Morris International during the 1st quarter worth about $169,000. Finally, Envestnet Asset Management Inc. raised its holdings in Philip Morris International by 3.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 5,719,832 shares of the company’s stock worth $907,909,000 after purchasing an additional 181,973 shares during the last quarter. 78.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PM. Morgan Stanley set a $175.00 target price on Philip Morris International and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. 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. 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 report on Thursday, July 10th. The Goldman Sachs Group reiterated a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Finally, Barclays decreased their price objective 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. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $194.00.

Philip Morris International Stock Up 0.2%

NYSE:PM opened at $144.58 on Tuesday. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69. The business has a 50 day moving average price of $159.59 and a two-hundred day moving average price of $168.79. The company has a market cap of $225.06 billion, a P/E ratio of 26.19, a price-to-earnings-growth ratio of 2.09 and a beta of 0.43.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The firm had revenue of $8.12 billion during the quarter. As a group, analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were paid a $1.47 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a yield of 4.1%. Philip Morris International’s dividend payout ratio (DPR) is currently 106.52%.

Philip Morris International 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.