Prentice Wealth Management LLC Has $359,000 Holdings in Philip Morris International Inc. $PM

Prentice Wealth Management LLC lifted its holdings in Philip Morris International Inc. (NYSE:PM) by 30.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,969 shares of the company’s stock after acquiring an additional 462 shares during the quarter. Prentice Wealth Management LLC’s holdings in Philip Morris International were worth $359,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its stake in Philip Morris International by 0.9% during the first quarter. Vanguard Group Inc. now owns 140,621,675 shares of the company’s stock worth $22,320,878,000 after buying an additional 1,189,283 shares in the last quarter. Wellington Management Group LLP grew its stake in Philip Morris International by 26.4% during the first quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock worth $3,466,730,000 after buying an additional 4,563,632 shares in the last quarter. WCM Investment Management LLC grew its stake in Philip Morris International by 24,968.0% during the second quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock worth $2,041,223,000 after buying an additional 11,230,626 shares in the last quarter. Nuveen LLC acquired a new stake in Philip Morris International during the first quarter worth about $1,712,994,000. Finally, Goldman Sachs Group Inc. grew its stake in Philip Morris International by 57.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock worth $1,554,686,000 after buying an additional 3,575,158 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of Philip Morris International in a research note on Wednesday. KGI Securities assumed coverage on shares of Philip Morris International in a report on Monday, August 4th. They issued an “outperform” rating for the company. Stifel Nicolaus set a $180.00 target price on shares of Philip Morris International in a report on Tuesday. Barclays dropped their target price on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $194.00.

Philip Morris International Price Performance

Shares of NYSE PM opened at $158.03 on Friday. The company has a 50 day simple moving average of $162.50 and a 200 day simple moving average of $168.77. The firm has a market cap of $245.99 billion, a PE ratio of 28.63, a price-to-earnings-growth ratio of 2.29 and a beta of 0.46. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. Philip Morris International had a net margin of 11.02% and a negative return on equity of 122.14%. The business had revenue of $8.12 billion during the quarter. As a group, research 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 company 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 represents a $5.88 annualized dividend and a yield of 3.7%. The ex-dividend date was Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio (DPR) is 106.52%.

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.