Philip Morris International Inc. $PM Shares Acquired by Eastern Bank

Eastern Bank lifted its position in shares of Philip Morris International Inc. (NYSE:PM) by 2.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,423 shares of the company’s stock after buying an additional 78 shares during the period. Eastern Bank’s holdings in Philip Morris International were worth $623,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Linscomb Wealth Inc. increased its holdings 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 purchasing an additional 2,669 shares in the last quarter. Mackenzie Financial Corp increased its holdings 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 valued at $568,873,000 after purchasing an additional 242,799 shares in the last quarter. 49 Wealth Management LLC increased its holdings in Philip Morris International by 79.0% in the 1st quarter. 49 Wealth Management LLC now owns 5,334 shares of the company’s stock valued at $847,000 after purchasing an additional 2,354 shares in the last quarter. Cortland Associates Inc. MO increased its holdings in Philip Morris International by 704.0% in the 1st quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company’s stock valued at $22,690,000 after purchasing an additional 125,171 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Philip Morris International by 24.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company’s stock valued at $69,695,000 after purchasing an additional 87,631 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Performance

Shares of PM stock opened at $160.51 on Friday. Philip Morris International Inc. has a one year low of $116.12 and a one year high of $186.69. The company’s 50-day simple moving average is $164.24 and its 200-day simple moving average is $168.77. The stock has a market capitalization of $249.85 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 2.34 and a beta of 0.46.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The business had revenue of $8.12 billion for the quarter. As a group, research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 annualized dividend and a dividend yield of 3.7%. Philip Morris International’s dividend payout ratio is 111.79%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wall Street Zen downgraded Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. JPMorgan Chase & Co. upped their price objective on shares of Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Needham & Company LLC reissued a “buy” rating and issued a $195.00 price objective on shares of Philip Morris International in a research report on Wednesday, July 23rd. Barclays decreased their price objective on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Finally, KGI Securities assumed coverage on shares of Philip Morris International in a research report on Monday, August 4th. They issued an “outperform” rating for the company. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $195.44.

Philip Morris International Company 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.