Ibex Wealth Advisors Acquires New Holdings in Philip Morris International Inc. $PM

Ibex Wealth Advisors bought a new position in Philip Morris International Inc. (NYSE:PM) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 29,530 shares of the company’s stock, valued at approximately $5,378,000.

A number of other hedge funds also recently made changes to their positions in PM. Legacy Investment Solutions LLC bought a new stake in Philip Morris International during the 2nd quarter valued at $25,000. Abound Wealth Management grew its position in Philip Morris International by 566.7% in the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after buying an additional 136 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA acquired a new position in Philip Morris International during the 1st quarter valued at about $30,000. Briaud Financial Planning Inc lifted its stake in shares of Philip Morris International by 266.7% in the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after acquiring an additional 120 shares during the period. Finally, CBIZ Investment Advisory Services LLC boosted its holdings in shares of Philip Morris International by 405.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock valued at $32,000 after acquiring an additional 162 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Trading Up 2.2%

NYSE:PM opened at $153.26 on Monday. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69. The firm has a market capitalization of $238.58 billion, a price-to-earnings ratio of 27.77, a PEG ratio of 2.22 and a beta of 0.43. The business’s fifty day moving average price is $158.30 and its 200 day moving average price is $168.38.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. The company had revenue of $8.12 billion for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%. Equities analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were given a dividend of $1.47 per share. 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. This represents a $5.88 dividend on an annualized basis and a yield of 3.8%. Philip Morris International’s payout ratio is 106.52%.

Analyst Ratings Changes

Several brokerages have recently issued reports on PM. Wall Street Zen cut Philip Morris International from a “buy” rating to a “hold” rating in a research report on Sunday. Needham & Company LLC restated a “buy” rating and set a $195.00 price objective on shares of Philip Morris International in a research report on Wednesday, July 23rd. KGI Securities began coverage on shares of Philip Morris International in a report on Monday, August 4th. They issued an “outperform” rating on the stock. Morgan Stanley set a $175.00 price target on shares of Philip Morris International and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Finally, Barclays reduced their price objective on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Philip Morris International has a consensus rating of “Moderate Buy” and an average price target of $194.00.

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.