Chicago Partners Investment Group LLC Increases Stock Position in Philip Morris International Inc. $PM

Chicago Partners Investment Group LLC raised its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 7.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,307 shares of the company’s stock after purchasing an additional 915 shares during the period. Chicago Partners Investment Group LLC’s holdings in Philip Morris International were worth $2,424,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Brighton Jones LLC increased its holdings in Philip Morris International by 31.1% in the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock worth $1,027,000 after buying an additional 2,023 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in Philip Morris International by 4.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock valued at $252,000 after acquiring an additional 91 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Philip Morris International by 26.5% during the 1st quarter. GAMMA Investing LLC now owns 28,268 shares of the company’s stock valued at $4,487,000 after acquiring an additional 5,930 shares during the last quarter. Advisor Resource Council bought a new stake in shares of Philip Morris International in the first quarter worth approximately $1,094,000. Finally, Woodmont Investment Counsel LLC raised its holdings in shares of Philip Morris International by 3.9% during the first quarter. Woodmont Investment Counsel LLC now owns 5,473 shares of the company’s stock valued at $869,000 after purchasing an additional 205 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

PM has been the topic of several research reports. Wall Street Zen cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Jefferies Financial Group started coverage on Philip Morris International in a report on Wednesday, July 9th. They issued a “buy” rating and a $220.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $195.00 price objective on shares of Philip Morris International in a research note on Wednesday, July 23rd. Finally, Citigroup reiterated a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.44.

Philip Morris International Stock Up 1.3%

NYSE:PM opened at $158.08 on Monday. The business’s 50-day simple moving average is $163.40 and its two-hundred day simple moving average is $168.86. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69. The stock has a market cap of $246.06 billion, a PE ratio of 30.05, a P/E/G ratio of 2.31 and a beta of 0.46.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. The firm had revenue of $8.12 billion during the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. Sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

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

Philip Morris International 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.