Avidian Wealth Enterprises LLC Raises Holdings in Philip Morris International Inc. $PM

Avidian Wealth Enterprises LLC lifted its stake in Philip Morris International Inc. (NYSE:PM) by 9.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,078 shares of the company’s stock after acquiring an additional 365 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Philip Morris International were worth $743,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Linscomb Wealth Inc. raised its stake in Philip Morris International by 3.3% in the 1st quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company’s stock worth $13,207,000 after acquiring an additional 2,669 shares during the last quarter. Mackenzie Financial Corp grew its stake in Philip Morris International by 7.3% during the 1st quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company’s stock valued at $568,873,000 after purchasing an additional 242,799 shares during the last quarter. 49 Wealth Management LLC increased its holdings in shares of Philip Morris International by 79.0% in the first quarter. 49 Wealth Management LLC now owns 5,334 shares of the company’s stock valued at $847,000 after purchasing an additional 2,354 shares during the period. Cortland Associates Inc. MO raised its stake in shares of Philip Morris International by 704.0% in the first quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company’s stock worth $22,690,000 after purchasing an additional 125,171 shares during the last quarter. Finally, First American Trust FSB raised its stake in shares of Philip Morris International by 80.0% in the first quarter. First American Trust FSB now owns 56,382 shares of the company’s stock worth $8,949,000 after purchasing an additional 25,063 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Down 3.9%

PM opened at $151.92 on Wednesday. The firm has a market cap of $236.48 billion, a P/E ratio of 28.88, a P/E/G ratio of 2.31 and a beta of 0.46. The business has a fifty day simple moving average of $162.81 and a 200-day simple moving average of $168.80. 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 issued its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The business had revenue of $8.12 billion for the quarter. Sell-side analysts expect that Philip Morris International Inc. will post 7.14 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 20th. Shareholders of record on Friday, October 3rd were issued a dividend of $1.47 per share. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, October 3rd. This represents a $5.88 annualized dividend and a yield of 3.9%. Philip Morris International’s dividend payout ratio (DPR) is currently 111.79%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PM. Jefferies Financial Group initiated coverage on shares of Philip Morris International in a report on Wednesday, July 9th. They issued a “buy” rating and a $220.00 price target on the stock. Stifel Nicolaus set a $186.00 target price on shares of Philip Morris International in a report on Tuesday. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. UBS Group reduced their price objective on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a research report on Friday, September 5th. Finally, Wall Street Zen lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Philip Morris International has a consensus rating of “Moderate Buy” and an average target price of $195.44.

About Philip Morris International

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.