Sequoia Financial Advisors LLC Has $18.02 Million Stock Position in Philip Morris International Inc. $PM

Sequoia Financial Advisors LLC raised its holdings in Philip Morris International Inc. (NYSE:PM) by 11.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 98,956 shares of the company’s stock after acquiring an additional 9,801 shares during the period. Sequoia Financial Advisors LLC’s holdings in Philip Morris International were worth $18,023,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. PFS Partners LLC boosted its stake in Philip Morris International by 24.8% in the 2nd quarter. PFS Partners LLC now owns 292 shares of the company’s stock valued at $53,000 after buying an additional 58 shares in the last quarter. Perigon Wealth Management LLC lifted its stake in shares of Philip Morris International by 0.4% during the first quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company’s stock valued at $2,236,000 after acquiring an additional 60 shares during the period. TBH Global Asset Management LLC lifted its stake in Philip Morris International by 0.9% in the first quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company’s stock valued at $1,100,000 after buying an additional 61 shares during the period. Uncommon Cents Investing LLC boosted its stake in Philip Morris International by 1.1% during the 2nd 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 last quarter. Finally, NFP Retirement Inc. grew its stake in Philip Morris International by 2.5% in 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 during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

PM has been the subject of several recent analyst reports. KGI Securities initiated coverage on Philip Morris International in a report on Monday, August 4th. They issued an “outperform” rating for the company. Citigroup reissued a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Wall Street Zen cut Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $195.00 price objective on shares of Philip Morris International in a research report on Wednesday, July 23rd. Finally, Jefferies Financial Group assumed coverage on Philip Morris International in a report on Wednesday, July 9th. They issued a “buy” rating and a $220.00 price objective on the stock. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and a consensus target price of $195.44.

Philip Morris International Stock Performance

Shares of PM opened at $160.51 on Monday. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69. The business’s fifty day moving average is $164.24 and its 200-day moving average is $168.87. The firm has a market cap 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 earnings per share (EPS) for the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%.The company 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 fiscal year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be given a dividend of $1.47 per share. The ex-dividend date is Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a yield of 3.7%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio is presently 111.79%.

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.