Shum Financial Group Inc. Makes New $864,000 Investment in Philip Morris International Inc. $PM

Shum Financial Group Inc. acquired a new stake in shares of Philip Morris International Inc. (NYSE:PM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,327 shares of the company’s stock, valued at approximately $864,000.

A number of other institutional investors also recently bought and sold shares of PM. Merit Financial Group LLC increased its stake in Philip Morris International by 5.6% in the third quarter. Merit Financial Group LLC now owns 149,678 shares of the company’s stock worth $24,278,000 after purchasing an additional 7,921 shares during the period. Calamos Wealth Management LLC lifted its position in Philip Morris International by 16.4% during the 3rd quarter. Calamos Wealth Management LLC now owns 5,438 shares of the company’s stock worth $882,000 after acquiring an additional 768 shares during the period. Sax Wealth Advisors LLC lifted its holdings in shares of Philip Morris International by 5.1% during the third quarter. Sax Wealth Advisors LLC now owns 9,598 shares of the company’s stock worth $1,557,000 after purchasing an additional 462 shares during the period. Lewis Asset Management LLC increased its stake in shares of Philip Morris International by 1.6% in the third quarter. Lewis Asset Management LLC now owns 5,796 shares of the company’s stock worth $940,000 after acquiring an additional 93 shares during the period. Finally, McGlone Suttner Wealth Management Inc. raised its stake in shares of Philip Morris International by 3.4% during the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 6,696 shares of the company’s stock valued at $1,086,000 after buying an additional 223 shares during the last quarter. 78.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PM has been the subject of a number of research reports. UBS Group cut their target price on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research note on Friday, September 5th. Stifel Nicolaus set a $180.00 target price on Philip Morris International in a report on Tuesday, October 21st. Citigroup reissued a “buy” rating on shares of Philip Morris International in a research note on Thursday, September 4th. Wall Street Zen upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, November 17th. Finally, JPMorgan Chase & Co. dropped their price target on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $189.00.

Philip Morris International Stock Performance

Philip Morris International stock opened at $161.99 on Wednesday. The company’s 50 day simple moving average is $154.43 and its 200-day simple moving average is $163.35. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69. The company has a market capitalization of $252.17 billion, a price-to-earnings ratio of 29.35, a price-to-earnings-growth ratio of 1.94 and a beta of 0.42.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The company 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%. Equities analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Investors of record on Friday, December 26th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, December 26th. Philip Morris International’s dividend payout ratio is presently 106.52%.

About Philip Morris International

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.