Avion Wealth Grows Position in Philip Morris International Inc. $PM

Avion Wealth grew its position in Philip Morris International Inc. (NYSE:PM) by 73.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 229 shares of the company’s stock after acquiring an additional 97 shares during the quarter. Avion Wealth’s holdings in Philip Morris International were worth $41,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of PM. Abound Wealth Management increased its position in Philip Morris International by 566.7% in the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after purchasing an additional 136 shares during the last quarter. Briaud Financial Planning Inc grew its stake in shares of Philip Morris International by 266.7% in the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after buying an additional 120 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new stake in shares of Philip Morris International in the 1st quarter worth about $30,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of Philip Morris International by 405.0% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock worth $32,000 after buying an additional 162 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Philip Morris International during the 1st quarter valued at about $34,000. 78.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PM. Stifel Nicolaus set a $180.00 price target on Philip Morris International in a research report on Tuesday. Citigroup reiterated a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. JPMorgan Chase & Co. increased their price target on Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Morgan Stanley set a $175.00 price objective on shares of Philip Morris International and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $194.00.

Philip Morris International Stock Performance

Shares of PM stock opened at $158.03 on Friday. The stock has a 50 day moving average price of $162.50 and a 200 day moving average price of $168.77. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69. The firm has a market capitalization of $245.99 billion, a P/E ratio of 28.63, a P/E/G ratio of 2.29 and a beta of 0.46.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 11.02%.The company had revenue of $8.12 billion for the quarter. As a group, sell-side 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 was paid on Monday, October 20th. Investors of record on Friday, October 3rd were paid a $1.47 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $5.88 annualized dividend and a yield of 3.7%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s payout ratio is 106.52%.

About Philip Morris International

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.