Laffer Tengler Investments Inc. Invests $211,000 in Philip Morris International Inc. $PM

Laffer Tengler Investments Inc. purchased a new position in shares of Philip Morris International Inc. (NYSE:PM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,156 shares of the company’s stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Linscomb Wealth Inc. lifted its stake in shares of 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 period. Mackenzie Financial Corp raised its holdings in Philip Morris International by 7.3% during the first quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company’s stock worth $568,873,000 after purchasing an additional 242,799 shares in the last quarter. First American Trust FSB raised its holdings in Philip Morris International by 80.0% during 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 in the last quarter. SpringVest Wealth Management LLC acquired a new stake in Philip Morris International in the first quarter worth approximately $253,000. Finally, SFE Investment Counsel bought a new position in Philip Morris International during the 1st quarter valued at $327,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. UBS Group dropped their price objective on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a research note on Friday, September 5th. Citigroup reiterated a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Wall Street Zen lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Sunday. Stifel Nicolaus set a $180.00 target price on shares of Philip Morris International in a report on Tuesday, October 21st. Finally, Morgan Stanley set a $175.00 target price on shares of Philip Morris International and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $194.00.

Philip Morris International Price Performance

Shares of PM opened at $153.26 on Monday. Philip Morris International Inc. has a one year low of $116.12 and a one year high of $186.69. The company has a 50-day moving average of $158.30 and a two-hundred day moving average of $168.38. The stock has a market cap of $238.58 billion, a price-to-earnings ratio of 27.77, a PEG ratio of 2.22 and a beta of 0.43.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. The business had revenue of $8.12 billion during the quarter. Analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.8%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Friday, October 3rd. Philip Morris International’s payout ratio 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.