Prospera Financial Services Inc Grows Holdings in Philip Morris International Inc. $PM

Prospera Financial Services Inc raised its position in Philip Morris International Inc. (NYSE:PM) by 37.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 25,780 shares of the company’s stock after purchasing an additional 7,014 shares during the period. Prospera Financial Services Inc’s holdings in Philip Morris International were worth $4,697,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Philip Morris International by 0.9% in the first quarter. Vanguard Group Inc. now owns 140,621,675 shares of the company’s stock worth $22,320,878,000 after acquiring an additional 1,189,283 shares in the last quarter. Wellington Management Group LLP increased its holdings in Philip Morris International by 26.4% during the 1st quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock worth $3,466,730,000 after purchasing an additional 4,563,632 shares during the last quarter. WCM Investment Management LLC increased its holdings in Philip Morris International by 24,968.0% during the 2nd quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock worth $2,041,223,000 after purchasing an additional 11,230,626 shares during the last quarter. Nuveen LLC acquired a new position in shares of Philip Morris International in the 1st quarter valued at approximately $1,712,994,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Philip Morris International by 57.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock valued at $1,554,686,000 after buying an additional 3,575,158 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Citigroup restated a “buy” rating on shares of Philip Morris International in a research note on Thursday, September 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 price target on shares of Philip Morris International in a research report on Wednesday, July 23rd. Finally, Wall Street Zen downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research note on Sunday. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.00.

Philip Morris International Stock Performance

Shares of NYSE:PM opened at $153.26 on Monday. The company’s fifty day moving average is $158.30 and its two-hundred day moving average is $168.38. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69. The stock has a market capitalization of $238.58 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 2.22 and a beta of 0.43.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results 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 business had revenue of $8.12 billion during the quarter. Sell-side analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently declared 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 3.8%. The ex-dividend date 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 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.