Welch & Forbes LLC Boosts Stake in Philip Morris International Inc. (NYSE:PM)

Welch & Forbes LLC lifted its stake in Philip Morris International Inc. (NYSE:PM) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,362 shares of the company’s stock after purchasing an additional 229 shares during the quarter. Welch & Forbes LLC’s holdings in Philip Morris International were worth $2,214,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of PM. Evolution Wealth Advisors LLC lifted its position in Philip Morris International by 179.1% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 307 shares of the company’s stock valued at $30,000 after acquiring an additional 197 shares in the last quarter. Monumental Financial Group Inc. bought a new position in shares of Philip Morris International during the 2nd quarter valued at $30,000. Regency Capital Management Inc. DE bought a new position in shares of Philip Morris International during the 1st quarter valued at $32,000. Lake Point Wealth Management bought a new position in shares of Philip Morris International during the 2nd quarter valued at $32,000. Finally, MV Capital Management Inc. lifted its holdings in shares of Philip Morris International by 1,116.7% during the 2nd quarter. MV Capital Management Inc. now owns 438 shares of the company’s stock valued at $43,000 after buying an additional 402 shares during the period. 74.90% of the stock is currently owned by hedge funds and other institutional investors.

Separately, Deutsche Bank Aktiengesellschaft upped their price objective on Philip Morris International from $114.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, August 19th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Philip Morris International has a consensus rating of “Buy” and a consensus price target of $104.86.

Shares of PM stock opened at $90.03 on Thursday. Philip Morris International Inc. has a 52-week low of $75.42 and a 52-week high of $106.51. The firm has a market capitalization of $140.16 billion, a PE ratio of 15.63, a PEG ratio of 1.84 and a beta of 0.83. The stock has a fifty day simple moving average of $96.06 and a two-hundred day simple moving average of $98.38.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Monday, October 18th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.55 by $0.03. Philip Morris International had a negative return on equity of 98.17% and a net margin of 11.11%. The business had revenue of $8.12 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the prior year, the business posted $1.42 EPS. Philip Morris International’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities analysts anticipate that Philip Morris International Inc. will post 6.07 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 14th. Shareholders of record on Wednesday, September 29th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 5.55%. The ex-dividend date was Tuesday, September 28th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.20. Philip Morris International’s dividend payout ratio is 86.81%.

About Philip Morris International

Philip Morris International, Inc is a holding company. It engages in manufacturing and sale of cigarettes, tobacco and nicotine-containing products. It operates through the following geographical segments: European Union, Eastern Europe, Middles East & Africa, South & Southeast Asia, East Asia & Australia and Latin America & Canada.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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