Spire Wealth Management Boosts Position in Philip Morris International Inc. $PM

Spire Wealth Management boosted its position in Philip Morris International Inc. (NYSE:PM) by 235.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,288 shares of the company’s stock after purchasing an additional 30,400 shares during the period. Spire Wealth Management’s holdings in Philip Morris International were worth $7,021,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Moran Wealth Management LLC grew its position in Philip Morris International by 16.9% during the third quarter. Moran Wealth Management LLC now owns 2,000 shares of the company’s stock valued at $324,000 after buying an additional 289 shares during the period. CX Institutional raised its position in Philip Morris International by 18.4% in the third quarter. CX Institutional now owns 10,131 shares of the company’s stock worth $1,643,000 after acquiring an additional 1,575 shares during the period. WMG Financial Advisors LLC boosted its stake in shares of Philip Morris International by 3.7% during the 3rd quarter. WMG Financial Advisors LLC now owns 2,070 shares of the company’s stock worth $336,000 after acquiring an additional 74 shares during the last quarter. Childress Capital Advisors LLC grew its position in shares of Philip Morris International by 37.9% during the 3rd quarter. Childress Capital Advisors LLC now owns 6,599 shares of the company’s stock valued at $1,070,000 after acquiring an additional 1,813 shares during the period. Finally, Park Avenue Securities LLC increased its stake in shares of Philip Morris International by 4.1% in the 3rd quarter. Park Avenue Securities LLC now owns 117,938 shares of the company’s stock worth $19,130,000 after purchasing an additional 4,631 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PM. The Goldman Sachs Group reiterated a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Barclays reduced their target price on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a report on Monday, November 17th. Stifel Nicolaus set a $180.00 target price on shares of Philip Morris International in a research note on Tuesday, October 21st. Finally, JPMorgan Chase & Co. dropped their price target on shares of 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 research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $189.00.

Philip Morris International Trading Up 0.0%

NYSE PM opened at $155.20 on Thursday. The stock’s 50 day moving average is $155.01 and its 200 day moving average is $162.47. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69. The stock has a market cap of $241.59 billion, a PE ratio of 28.12, a P/E/G ratio of 1.67 and a beta of 0.40.

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

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Friday, December 26th. Philip Morris International’s payout ratio is currently 106.52%.

Philip Morris International Profile

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.