14,505 Shares of Philip Morris International Inc. $PM Purchased by Welch & Forbes LLC

Welch & Forbes LLC acquired a new stake in Philip Morris International Inc. (NYSE:PM) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,505 shares of the company’s stock, valued at approximately $2,768,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its holdings in Philip Morris International by 30.9% in the second quarter. Bank of New York Mellon Corp now owns 11,669,878 shares of the company’s stock valued at $2,111,198,000 after acquiring an additional 2,755,662 shares during the period. Teamwork Financial Advisors LLC grew its stake in shares of Philip Morris International by 2,662.6% during the 2nd quarter. Teamwork Financial Advisors LLC now owns 65,695 shares of the company’s stock worth $11,885,000 after purchasing an additional 63,317 shares during the period. Perennial Investment Advisors LLC acquired a new position in shares of Philip Morris International during the 2nd quarter worth $505,000. Orographic Financial Advisors LLC acquired a new position in shares of Philip Morris International during the 1st quarter worth $1,205,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Philip Morris International by 0.5% in the 1st quarter. Principal Financial Group Inc. now owns 1,749,744 shares of the company’s stock valued at $289,303,000 after purchasing an additional 9,047 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

PM opened at $194.31 on Wednesday. The business’s fifty day moving average is $195.73 and its two-hundred day moving average is $183.05. The company has a market cap of $302.86 billion, a price-to-earnings ratio of 28.37, a PEG ratio of 2.59 and a beta of 0.34. Philip Morris International Inc. has a one year low of $146.35 and a one year high of $214.35.

Philip Morris International (NYSE:PM) last posted its earnings results on Wednesday, October 21st. The company reported $2.36 earnings per share for the quarter, beating the consensus estimate 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 quarter in the prior year, the company earned $2.24 earnings per share. Philip Morris International’s revenue was up 5.5% compared to the same quarter last year. On average, analysts predict that Philip Morris International Inc. will post 8.32 EPS for the current fiscal year.

Philip Morris International Increases Dividend

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

Wall Street Analyst Weigh In

PM has been the subject of several recent analyst reports. Barclays raised their price objective on shares of 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 raised shares of Philip Morris International from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, November 4th. Stifel Nicolaus upped their target price on shares of Philip Morris International from $205.00 to $232.00 and gave the stock a “buy” rating in a research report on Tuesday, November 3rd. JPMorgan Chase & Co. assumed coverage on shares of Philip Morris International in a report on Tuesday. They issued a “neutral” rating and a $200.00 target price for the company. Finally, UBS Group lifted their price target on shares of Philip Morris International from $193.00 to $201.00 and gave the company a “neutral” rating in a research report on Thursday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $213.90.

Philip Morris International Company 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.