Philip Morris International Inc. $PM Stake Boosted by Lido Advisors LLC

Lido Advisors LLC boosted its holdings in Philip Morris International Inc. (NYSE:PM) by 27.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 148,483 shares of the company’s stock after acquiring an additional 32,043 shares during the quarter. Lido Advisors LLC’s holdings in Philip Morris International were worth $28,334,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Keybank National Association OH grew its stake in Philip Morris International by 5.8% in the 3rd quarter. Keybank National Association OH now owns 367,303 shares of the company’s stock worth $70,089,000 after buying an additional 20,050 shares in the last quarter. Cornerstone Wealth Management LLC increased its holdings in shares of Philip Morris International by 6.5% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 16,173 shares of the company’s stock worth $3,086,000 after buying an additional 981 shares during the last quarter. Csenge Advisory Group increased its holdings in shares of Philip Morris International by 4.7% in the 3rd quarter. Csenge Advisory Group now owns 45,937 shares of the company’s stock worth $8,766,000 after buying an additional 2,045 shares during the last quarter. D Orazio & Associates Inc. raised its position in shares of Philip Morris International by 2.2% during the 3rd quarter. D Orazio & Associates Inc. now owns 9,513 shares of the company’s stock valued at $1,815,000 after buying an additional 202 shares in the last quarter. Finally, Kinsale Capital Group Inc. raised its position in shares of Philip Morris International by 14.0% during the 3rd quarter. Kinsale Capital Group Inc. now owns 120,097 shares of the company’s stock valued at $22,917,000 after buying an additional 14,792 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Argus lifted their price objective on shares of Philip Morris International from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, October 26th. Stifel Nicolaus increased their target price on Philip Morris International from $205.00 to $232.00 and gave the company a “buy” rating in a research note on Tuesday, November 3rd. JPMorgan Chase & Co. initiated coverage on Philip Morris International in a research report on Tuesday. They set a “neutral” rating and a $200.00 price target on the stock. UBS Group lifted their price target on Philip Morris International from $193.00 to $201.00 and gave the stock a “neutral” rating in a research note on Thursday, October 22nd. Finally, Morgan Stanley lifted their price target on Philip Morris International from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $213.90.

Philip Morris International Price Performance

Shares of PM opened at $194.31 on Wednesday. Philip Morris International Inc. has a 1 year low of $146.35 and a 1 year high of $214.35. The stock has a 50 day simple moving average of $195.73 and a two-hundred day simple moving average of $183.05. The firm has a market cap of $302.86 billion, a P/E ratio of 28.37, a P/E/G ratio of 2.59 and a beta of 0.34.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Wednesday, October 21st. The company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.30 by $0.06. The firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $11.32 billion. Philip Morris International had a net margin of 10.73% and a negative return on equity of 183.96%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the firm posted $2.24 earnings per share. On average, equities analysts anticipate that Philip Morris International Inc. will post 8.32 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 26th. Investors of record on Friday, October 2nd were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Friday, October 2nd. This represents a $6.40 annualized dividend and a dividend yield of 3.3%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.47. Philip Morris International’s payout ratio is 93.43%.

About Philip Morris International

Philip Morris International is a global tobacco and nicotine company that develops, manufactures and sells cigarettes and smoke-free products. Its cigarette brands include Marlboro in markets outside the United States, along with other regional and international brands. The company’s smoke-free portfolio includes IQOS heated tobacco products, ZYN nicotine pouches and VEEV e-vapor products. Philip Morris International sells its products in markets around the world, with availability varying by country and subject to local regulations.