Philip Morris International Inc. $PM Shares Purchased by Leith Wheeler Investment Counsel Ltd.

Leith Wheeler Investment Counsel Ltd. increased its position in shares of Philip Morris International Inc. (NYSE:PM) by 2.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 84,695 shares of the company’s stock after purchasing an additional 1,783 shares during the quarter. Philip Morris International accounts for 0.9% of Leith Wheeler Investment Counsel Ltd.’s investment portfolio, making the stock its 26th biggest holding. Leith Wheeler Investment Counsel Ltd.’s holdings in Philip Morris International were worth $15,426,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Abound Wealth Management grew its position in shares of Philip Morris International by 566.7% in the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after purchasing an additional 136 shares during the period. Kelly Lawrence W & Associates Inc. CA purchased a new stake in Philip Morris International during the first quarter valued at about $30,000. CBIZ Investment Advisory Services LLC lifted its stake in shares of Philip Morris International by 405.0% during the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock worth $32,000 after purchasing an additional 162 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Philip Morris International during the first quarter worth about $34,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Philip Morris International in the first quarter worth about $35,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PM. KGI Securities began coverage on Philip Morris International in a research note on Monday, August 4th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. increased their price objective on Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Citigroup reissued a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. Needham & Company LLC restated a “buy” rating and issued a $195.00 target price on shares of Philip Morris International in a research report on Wednesday, July 23rd. Finally, UBS Group cut their price objective on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research report on Friday, September 5th. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $195.44.

Philip Morris International Stock Performance

Shares of NYSE:PM opened at $160.51 on Monday. The company has a market cap of $249.85 billion, a P/E ratio of 30.52, a P/E/G ratio of 2.34 and a beta of 0.46. The stock’s 50-day moving average is $164.24 and its 200-day moving average is $168.87. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. The business had revenue of $8.12 billion for the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. As a group, equities analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be issued a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a yield of 3.7%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio (DPR) is presently 111.79%.

Philip Morris International Company Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.