Philip Morris International Inc. $PM Shares Acquired by SP Asset Management LLC

SP Asset Management LLC grew its stake in Philip Morris International Inc. (NYSE:PM) by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,952 shares of the company’s stock after purchasing an additional 1,502 shares during the quarter. Philip Morris International makes up 1.0% of SP Asset Management LLC’s holdings, making the stock its 24th biggest position. SP Asset Management LLC’s holdings in Philip Morris International were worth $12,558,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Linscomb Wealth Inc. raised its stake in Philip Morris International by 3.3% during the first quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company’s stock worth $13,207,000 after purchasing an additional 2,669 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Philip Morris International by 7.3% in the 1st quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company’s stock worth $568,873,000 after acquiring an additional 242,799 shares during the last quarter. Cortland Associates Inc. MO lifted its holdings in shares of Philip Morris International by 704.0% in the 1st quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company’s stock worth $22,690,000 after acquiring an additional 125,171 shares during the last quarter. First American Trust FSB lifted its holdings in shares of Philip Morris International by 80.0% in the 1st quarter. First American Trust FSB now owns 56,382 shares of the company’s stock worth $8,949,000 after acquiring an additional 25,063 shares during the last quarter. Finally, SpringVest Wealth Management LLC acquired a new position in shares of Philip Morris International in the 1st quarter worth approximately $253,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Up 0.5%

Philip Morris International stock opened at $148.47 on Thursday. The firm has a market cap of $231.11 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 2.14 and a beta of 0.43. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69. The company’s 50 day moving average is $158.89 and its two-hundred day moving average is $168.54.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. The company had revenue of $8.12 billion for the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. On average, equities research 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 company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Shareholders 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 dividend on an annualized basis and a dividend yield of 4.0%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s payout ratio is currently 106.52%.

Wall Street Analysts Forecast Growth

PM has been the topic of several recent analyst reports. Citigroup restated a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. Jefferies Financial Group initiated coverage on shares of Philip Morris International in a report on Wednesday, July 9th. They issued a “buy” rating and a $220.00 price objective on the stock. Morgan Stanley set a $175.00 price objective on shares of Philip Morris International and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. UBS Group decreased their price objective on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a report on Friday, September 5th. Finally, 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 report on Thursday, July 10th. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.