2,552 Philip Morris International Inc. $PM Shares Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management boosted its holdings in Philip Morris International Inc. (NYSE:PM) by 3.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 75,039 shares of the company’s stock after purchasing an additional 2,552 shares during the quarter. Ritholtz Wealth Management’s holdings in Philip Morris International were worth $14,319,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd purchased a new position in shares of Philip Morris International in the 2nd quarter valued at $29,000. Wilkerson Advisory Group LLC boosted its position in Philip Morris International by 109.2% during the 1st quarter. Wilkerson Advisory Group LLC now owns 205 shares of the company’s stock worth $34,000 after purchasing an additional 107 shares during the period. Kelly Lawrence W & Associates Inc. CA purchased a new stake in Philip Morris International during the 2nd quarter worth $34,000. Kilter Group LLC acquired a new stake in Philip Morris International in the 2nd quarter valued at $35,000. Finally, Evergreen Advisors LLC acquired a new stake in Philip Morris International in the 1st quarter valued at $46,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Trading Up 1.0%

PM opened at $196.29 on Thursday. The company has a fifty day simple moving average of $195.91 and a 200 day simple moving average of $183.17. The firm has a market cap of $305.95 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 2.61 and a beta of 0.34. Philip Morris International Inc. has a twelve month low of $146.35 and a twelve month high of $214.35.

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

Philip Morris International Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts have commented on PM shares. Morgan Stanley raised their price objective on Philip Morris International from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. 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. Needham & Company LLC increased their target price on Philip Morris International from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, October 22nd. Finally, Argus raised their target price on Philip Morris International from $210.00 to $220.00 and gave the company a “buy” rating in a report on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.