Oak Harvest Investment Services Buys 22,551 Shares of Philip Morris International Inc. $PM

Oak Harvest Investment Services raised its stake in Philip Morris International Inc. (NYSE:PM) by 1,280.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 24,312 shares of the company’s stock after acquiring an additional 22,551 shares during the period. Oak Harvest Investment Services’ holdings in Philip Morris International were worth $3,943,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Corient Private Wealth LLC boosted its position in Philip Morris International by 1.2% during the second quarter. Corient Private Wealth LLC now owns 490,590 shares of the company’s stock worth $89,354,000 after purchasing an additional 5,681 shares during the period. Westwood Holdings Group Inc. boosted its holdings in Philip Morris International by 295.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 67,717 shares of the company’s stock worth $12,333,000 after buying an additional 50,610 shares during the period. Prudential Financial Inc. boosted its holdings in Philip Morris International by 88.9% in the 2nd quarter. Prudential Financial Inc. now owns 2,138,118 shares of the company’s stock worth $389,415,000 after buying an additional 1,006,014 shares during the period. Trek Financial LLC grew its stake in Philip Morris International by 732.3% in the 2nd quarter. Trek Financial LLC now owns 42,829 shares of the company’s stock valued at $7,801,000 after buying an additional 37,683 shares in the last quarter. Finally, Klingman & Associates LLC raised its holdings in Philip Morris International by 44.5% during the 2nd quarter. Klingman & Associates LLC now owns 6,615 shares of the company’s stock valued at $1,205,000 after acquiring an additional 2,038 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Morgan Stanley set a $175.00 price target on Philip Morris International and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. UBS Group cut their target price on 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Wall Street Zen raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, November 17th. Finally, Stifel Nicolaus set a $180.00 price objective on shares of Philip Morris International in a research note on Tuesday, October 21st. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $189.00.

Philip Morris International Stock Up 0.4%

NYSE:PM opened at $161.76 on Tuesday. The stock has a market cap of $251.81 billion, a P/E ratio of 29.31, a PEG ratio of 1.93 and a beta of 0.42. The business’s 50-day moving average price is $154.23 and its two-hundred day moving average price is $163.51. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data 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%. On average, equities research analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Friday, December 26th will be given a dividend of $1.47 per share. The ex-dividend date is Friday, December 26th. This represents a $5.88 annualized dividend and a dividend yield of 3.6%. Philip Morris International’s dividend payout ratio (DPR) is 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.