M Holdings Securities Inc. Purchases New Position in Philip Morris International Inc. $PM

M Holdings Securities Inc. purchased a new position in Philip Morris International Inc. (NYSE:PM) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 10,855 shares of the company’s stock, valued at approximately $2,222,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Caitong International Asset Management Co. Ltd bought a new position in Philip Morris International in the second quarter worth approximately $29,000. Wilkerson Advisory Group LLC lifted its holdings in Philip Morris International by 109.2% during the first quarter. Wilkerson Advisory Group LLC now owns 205 shares of the company’s stock worth $34,000 after buying an additional 107 shares during the period. Kelly Lawrence W & Associates Inc. CA purchased a new stake in Philip Morris International during the second quarter worth $34,000. Kilter Group LLC purchased a new stake in Philip Morris International during the second quarter worth $35,000. Finally, Evergreen Advisors LLC bought a new stake in Philip Morris International during the 1st quarter valued at $46,000. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Down 2.4%

NYSE PM opened at $193.16 on Tuesday. The firm has a market cap of $301.07 billion, a PE ratio of 28.20, a price-to-earnings-growth ratio of 2.83 and a beta of 0.34. The company has a 50 day moving average price of $195.59 and a 200 day moving average price of $182.93. Philip Morris International Inc. has a 52 week low of $146.35 and a 52 week high of $214.35.

Philip Morris International (NYSE:PM) last posted its earnings results on Wednesday, October 21st. The company reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.06. The company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $11.32 billion. Philip Morris International had a net margin of 10.73% and a negative return on equity of 183.96%. Philip Morris International’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.24 earnings per share. On average, equities research analysts anticipate that Philip Morris International Inc. will post 8.32 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Friday, October 2nd were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Friday, October 2nd. This is a boost from Philip Morris International’s previous quarterly dividend of $1.47. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.3%. Philip Morris International’s payout ratio is currently 93.43%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PM shares. Argus lifted their price target on Philip Morris International from $210.00 to $220.00 and gave the company a “buy” rating in a report on Monday, October 26th. Weiss Ratings upgraded Philip Morris International from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, November 4th. Citigroup upped their price objective on Philip Morris International from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Barclays raised their price objective on Philip Morris International from $205.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Finally, BTIG Research set a $221.00 target price on Philip Morris International and gave the company a “buy” rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and an average price target of $212.40.

Philip Morris International Profile

Philip Morris International is a global tobacco and nicotine company that develops, manufactures and sells cigarettes and smoke-free products. Its cigarette brands include Marlboro in markets outside the United States, along with other regional and international brands.

The company’s smoke-free portfolio includes IQOS heated tobacco products, ZYN nicotine pouches and VEEV e-vapor products. Philip Morris International sells its products in markets around the world, with availability varying by country and subject to local regulations.

Philip Morris International became an independent publicly traded company in 2008 after separating from Altria Group.