Philip Morris International Inc. $PM Holdings Raised by Ritholtz Wealth Management

Ritholtz Wealth Management grew its stake in shares of Philip Morris International Inc. (NYSE:PM) by 3.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 75,039 shares of the company’s stock after buying an additional 2,552 shares during the period. Ritholtz Wealth Management’s holdings in Philip Morris International were worth $14,319,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Philip Morris International by 0.4% in the second quarter. BlackRock Inc. now owns 108,039,522 shares of the company’s stock valued at $19,545,430,000 after acquiring an additional 444,449 shares in the last quarter. State Street Corp boosted its stake in shares of Philip Morris International by 1.0% during the second quarter. State Street Corp now owns 55,569,994 shares of the company’s stock valued at $10,134,454,000 after acquiring an additional 536,968 shares during the last quarter. GQG Partners LLC purchased a new stake in Philip Morris International during the 2nd quarter worth about $8,220,008,000. Wellington Management Group LLP increased its position in Philip Morris International by 3.9% during the 2nd quarter. Wellington Management Group LLP now owns 17,506,171 shares of the company’s stock worth $3,167,041,000 after purchasing an additional 650,587 shares in the last quarter. Finally, Bank of America Corp DE purchased a new stake in Philip Morris International during the 2nd quarter worth about $3,075,267,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Stock Up 1.0%

NYSE:PM opened at $196.29 on Thursday. The company has a market cap of $305.95 billion, a P/E ratio of 28.66, a P/E/G ratio of 2.61 and a beta of 0.34. The firm’s 50 day moving average is $195.91 and its two-hundred day moving average is $183.17. Philip Morris International Inc. has a fifty-two week low of $146.35 and a fifty-two week high of $214.35.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Wednesday, October 21st. The company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.06. The company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $11.32 billion. Philip Morris International had a net margin of 10.73% and a negative return on equity of 183.96%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.24 EPS. Research analysts forecast that Philip Morris International Inc. will post 8.32 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Friday, October 2nd were issued a $1.60 dividend. The ex-dividend date was Friday, October 2nd. This is an increase from Philip Morris International’s previous quarterly dividend of $1.47. This represents a $6.40 dividend on an annualized basis and a yield of 3.3%. Philip Morris International’s payout ratio is 93.43%.

Analysts Set New Price Targets

PM has been the subject of several analyst reports. Morgan Stanley boosted their target price on shares of Philip Morris International from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. UBS Group raised their price target on shares of Philip Morris International from $193.00 to $201.00 and gave the stock a “neutral” rating in a research note on Thursday, October 22nd. Argus lifted their price target on shares of Philip Morris International from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, October 26th. Needham & Company LLC boosted their price objective on shares of Philip Morris International from $215.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, October 22nd. Finally, Citigroup upped their price objective on shares of Philip Morris International from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $213.90.

About Philip Morris International

Philip Morris International is a global tobacco and nicotine company that develops, manufactures and sells cigarettes and smoke-free products. Its cigarette brands include Marlboro in markets outside the United States, along with other regional and international brands. The company’s smoke-free portfolio includes IQOS heated tobacco products, ZYN nicotine pouches and VEEV e-vapor products. Philip Morris International sells its products in markets around the world, with availability varying by country and subject to local regulations.