Philip Morris International Inc. $PM Stock: Kestra Investment Management LLC Lowers Position

Kestra Investment Management LLC cut its stake in shares of Philip Morris International Inc. (NYSE:PM) by 16.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,814 shares of the company’s stock after selling 4,456 shares during the period. Kestra Investment Management LLC’s holdings in Philip Morris International were worth $4,353,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new stake in Philip Morris International during the second quarter worth approximately $29,000. Kelly Lawrence W & Associates Inc. CA acquired a new position in shares of Philip Morris International during the 2nd quarter valued at $34,000. Kilter Group LLC purchased a new position in Philip Morris International in the second quarter valued at about $35,000. Wilkerson Advisory Group LLC raised its position in Philip Morris International by 109.2% in the first quarter. Wilkerson Advisory Group LLC now owns 205 shares of the company’s stock valued at $34,000 after purchasing an additional 107 shares during the period. Finally, Evergreen Advisors LLC acquired a new position in shares of Philip Morris International during the first quarter worth about $46,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. BTIG Research set a $221.00 target price on Philip Morris International and gave the stock a “buy” rating in a research report on Friday, July 24th. Barclays increased their target price on Philip Morris International from $205.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Weiss Ratings upgraded Philip Morris International from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, November 4th. Citigroup boosted their price target on Philip Morris International from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, Argus increased their price objective on shares of Philip Morris International from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, October 26th. One investment 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’s stock. According to MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.40.

Philip Morris International Stock Down 2.4%

Shares of NYSE PM opened at $193.16 on Tuesday. Philip Morris International Inc. has a fifty-two week low of $146.35 and a fifty-two week high of $214.35. The business has a 50 day moving average price of $195.59 and a two-hundred day moving average price of $182.93. 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.

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

Philip Morris International Increases Dividend

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

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.