Soltis Investment Advisors LLC Purchases 9,824 Shares of Philip Morris International Inc. $PM

Soltis Investment Advisors LLC raised its position in Philip Morris International Inc. (NYSE:PM) by 370.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,476 shares of the company’s stock after purchasing an additional 9,824 shares during the period. Soltis Investment Advisors LLC’s holdings in Philip Morris International were worth $2,272,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Linscomb Wealth Inc. increased its position in shares of Philip Morris International by 3.3% in the first quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company’s stock valued at $13,207,000 after acquiring an additional 2,669 shares during the period. Mackenzie Financial Corp raised its stake in Philip Morris International by 7.3% in the first quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company’s stock worth $568,873,000 after buying an additional 242,799 shares in the last quarter. Cortland Associates Inc. MO grew its holdings in shares of Philip Morris International by 704.0% during 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 period. First American Trust FSB lifted its stake 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 valued at $8,949,000 after purchasing an additional 25,063 shares during the period. Finally, SpringVest Wealth Management LLC bought a new position in Philip Morris International in the first quarter worth $253,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PM shares. Morgan Stanley set a $175.00 price target on shares of Philip Morris International and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. UBS Group reduced their price objective on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research report on Friday, September 5th. Stifel Nicolaus set a $180.00 target price on Philip Morris International in a report on Tuesday, October 21st. Needham & Company LLC restated a “buy” rating and set a $195.00 price target on shares of Philip Morris International in a report on Wednesday, July 23rd. Finally, Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average target price of $194.00.

Philip Morris International Trading Up 0.5%

NYSE:PM opened at $148.47 on Thursday. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69. The company has a 50 day simple moving average of $158.89 and a two-hundred day simple moving average of $168.54. The company 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 (NYSE:PM) last released its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. The business had revenue of $8.12 billion during the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%. Research 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 given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s payout ratio is presently 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.