Philip Morris International Inc. $PM Shares Purchased by Swan Global Investments LLC

Swan Global Investments LLC raised its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 16.5% during the 2nd quarter, Holdings Channel reports. The fund owned 1,554 shares of the company’s stock after purchasing an additional 220 shares during the period. Swan Global Investments LLC’s holdings in Philip Morris International were worth $283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on PM. Wall Street Zen cut Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. JPMorgan Chase & Co. lifted their price target on Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Citigroup restated a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. Jefferies Financial Group assumed coverage on Philip Morris International in a research note on Wednesday, July 9th. They set a “buy” rating and a $220.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 target price on shares of Philip Morris International in a report on Wednesday, July 23rd. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently 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 $158.08 on Monday. The company has a market capitalization of $246.06 billion, a PE ratio of 30.05, a price-to-earnings-growth ratio of 2.31 and a beta of 0.46. The stock has a fifty day moving average of $163.40 and a 200-day moving average of $168.86. Philip Morris International Inc. has a one year low of $116.12 and a one year high of $186.69.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) 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, research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently disclosed 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. This represents a $5.88 annualized dividend and a yield of 3.7%. The ex-dividend date is Friday, October 3rd. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend 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.