MAI Capital Management Acquires 5,154 Shares of Philip Morris International Inc. $PM

MAI Capital Management raised its holdings in Philip Morris International Inc. (NYSE:PM) by 7.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 73,985 shares of the company’s stock after buying an additional 5,154 shares during the period. MAI Capital Management’s holdings in Philip Morris International were worth $13,475,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. PFS Partners LLC grew its holdings in shares of Philip Morris International by 24.8% in the second quarter. PFS Partners LLC now owns 292 shares of the company’s stock worth $53,000 after purchasing an additional 58 shares during the last quarter. Uncommon Cents Investing LLC increased its position in shares of Philip Morris International by 1.1% during the second quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company’s stock worth $1,032,000 after acquiring an additional 61 shares during the period. NFP Retirement Inc. raised its stake in shares of Philip Morris International by 2.5% during the first quarter. NFP Retirement Inc. now owns 2,589 shares of the company’s stock valued at $411,000 after acquiring an additional 62 shares in the last quarter. Cranbrook Wealth Management LLC grew its stake in Philip Morris International by 6.5% in the second quarter. Cranbrook Wealth Management LLC now owns 1,014 shares of the company’s stock worth $185,000 after purchasing an additional 62 shares in the last quarter. Finally, Renasant Bank raised its position in Philip Morris International by 3.3% during the 1st quarter. Renasant Bank now owns 1,994 shares of the company’s stock valued at $317,000 after purchasing an additional 63 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, November 17th. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Stifel Nicolaus set a $180.00 price target on Philip Morris International in a research report on Tuesday, October 21st. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Finally, 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 report on Friday, September 5th. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $189.56.

Philip Morris International Stock Performance

NYSE:PM opened at $155.24 on Friday. The firm has a market cap of $241.65 billion, a price-to-earnings ratio of 28.12, a PEG ratio of 1.83 and a beta of 0.43. The firm’s fifty day moving average is $156.42 and its two-hundred day moving average is $167.34. 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 quarterly earnings data on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The company had revenue of $8.12 billion for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%. As a group, equities research analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Friday, October 3rd. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s payout ratio is presently 106.52%.

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.