Canvas Wealth Advisors LLC Takes $335,000 Position in Philip Morris International Inc. $PM

Canvas Wealth Advisors LLC acquired a new position in Philip Morris International Inc. (NYSE:PM) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,837 shares of the company’s stock, valued at approximately $335,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its stake in shares of Philip Morris International by 31.1% during the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock valued at $1,027,000 after buying an additional 2,023 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in Philip Morris International by 4.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock worth $252,000 after acquiring an additional 91 shares during the period. GAMMA Investing LLC grew its holdings in Philip Morris International by 26.5% during the first quarter. GAMMA Investing LLC now owns 28,268 shares of the company’s stock worth $4,487,000 after acquiring an additional 5,930 shares during the period. Advisor Resource Council purchased a new position in Philip Morris International during the first quarter valued at approximately $1,094,000. Finally, Woodmont Investment Counsel LLC lifted its holdings in Philip Morris International by 3.9% in the first quarter. Woodmont Investment Counsel LLC now owns 5,473 shares of the company’s stock valued at $869,000 after acquiring an additional 205 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Up 1.3%

PM opened at $158.08 on Monday. The firm’s fifty day simple moving average is $163.40 and its two-hundred day simple moving average is $168.86. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69. The company has a market cap of $246.06 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 2.31 and a beta of 0.46.

Philip Morris International (NYSE:PM) last released its 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 during the quarter. On average, research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently declared 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 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 (DPR) is presently 111.79%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PM shares. Jefferies Financial Group started coverage on shares of Philip Morris International in a research note on Wednesday, July 9th. They set a “buy” rating and a $220.00 price objective on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. UBS Group lowered their target price on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a research note on Friday, September 5th. Finally, JPMorgan Chase & Co. raised their target price on Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.