Keyvantage Wealth LLC Purchases 514 Shares of Philip Morris International Inc. $PM

Keyvantage Wealth LLC lifted its position in shares of Philip Morris International Inc. (NYSE:PM) by 33.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,039 shares of the company’s stock after purchasing an additional 514 shares during the quarter. Keyvantage Wealth LLC’s holdings in Philip Morris International were worth $371,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of PM. Vanguard Group Inc. raised its stake in shares of Philip Morris International by 0.9% during 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. Geode Capital Management LLC grew its holdings in shares of Philip Morris International by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 37,181,107 shares of the company’s stock valued at $6,760,346,000 after purchasing an additional 672,983 shares during the last quarter. Wellington Management Group LLP raised its position in Philip Morris International by 26.4% in 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 period. WCM Investment Management LLC lifted its stake in Philip Morris International by 24,968.0% in the second 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. Finally, Nuveen LLC bought a new stake in Philip Morris International in the first quarter worth $1,712,994,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PM. Morgan Stanley set a $175.00 target price on Philip Morris International and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Stifel Nicolaus set a $180.00 price objective on Philip Morris International in a research note on Tuesday, October 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Needham & Company LLC reissued a “buy” rating and issued a $195.00 price target on shares of Philip Morris International in a report on Wednesday, July 23rd. Finally, Wall Street Zen cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Philip Morris International currently has an average rating of “Moderate Buy” and a consensus target price of $194.00.

Philip Morris International Trading Up 0.1%

Shares of PM opened at $155.35 on Friday. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69. The firm’s 50-day moving average price is $157.45 and its 200-day moving average price is $167.90. The firm has a market capitalization of $241.83 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 2.25 and a beta of 0.43.

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 business had revenue of $8.12 billion during the quarter. On average, research analysts forecast that Philip Morris International Inc. will post 7.14 EPS 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 issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 3.8%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, October 3rd. Philip Morris International’s dividend payout ratio 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.