Sound View Wealth Advisors Group LLC Acquires 395 Shares of Philip Morris International Inc. $PM

Sound View Wealth Advisors Group LLC boosted its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 1.0% during the second quarter, Holdings Channel.com reports. The firm owned 41,611 shares of the company’s stock after acquiring an additional 395 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in Philip Morris International were worth $7,579,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Linscomb Wealth Inc. lifted its holdings in Philip Morris International by 3.3% during 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 grew its stake in Philip Morris International by 7.3% in the 1st quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company’s stock worth $568,873,000 after acquiring an additional 242,799 shares in the last quarter. Cortland Associates Inc. MO increased its position in shares of Philip Morris International by 704.0% during the first 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. First American Trust FSB increased its position in shares of 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 acquiring an additional 25,063 shares during the period. Finally, SpringVest Wealth Management LLC bought a new stake in shares of Philip Morris International during the first quarter valued at approximately $253,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $195.00 price objective on shares of Philip Morris International in a research note on Wednesday, July 23rd. Wall Street Zen lowered Philip Morris International from a “buy” rating to a “hold” rating in a research report on Sunday. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Citigroup restated a “buy” rating on shares of Philip Morris International in a research note on Thursday, September 4th. Finally, KGI Securities initiated coverage on Philip Morris International in a report on Monday, August 4th. They issued an “outperform” rating for the company. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $194.00.

Philip Morris International Stock Up 2.2%

Philip Morris International stock opened at $153.26 on Friday. The firm has a market cap of $238.58 billion, a P/E ratio of 27.77, a P/E/G ratio of 2.22 and a beta of 0.43. The business has a fifty day moving average of $158.30 and a two-hundred day moving average of $168.37. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69.

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

Philip Morris International Increases Dividend

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