Clune & Associates LTD. Takes $200,000 Position in Philip Morris International Inc. $PM

Clune & Associates LTD. purchased a new position in Philip Morris International Inc. (NYSE:PM) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,099 shares of the company’s stock, valued at approximately $200,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Abound Wealth Management increased its holdings in shares of Philip Morris International by 566.7% during the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after acquiring an additional 136 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA purchased a new stake in Philip Morris International during the 1st quarter valued at about $30,000. CBIZ Investment Advisory Services LLC increased its stake in Philip Morris International by 405.0% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock valued at $32,000 after purchasing an additional 162 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new position in Philip Morris International in the first quarter worth about $34,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of Philip Morris International in the first quarter worth approximately $35,000. Institutional investors own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PM. Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Citigroup reissued a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Jefferies Financial Group initiated coverage on Philip Morris International in a research report on Wednesday, July 9th. They set a “buy” rating and a $220.00 price objective on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $195.00 target price on shares of Philip Morris International in a research report on Wednesday, July 23rd. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $195.44.

Philip Morris International Price Performance

PM stock opened at $157.90 on Tuesday. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69. The company has a market cap of $245.78 billion, a P/E ratio of 30.02, a price-to-earnings-growth ratio of 2.31 and a beta of 0.46. The stock’s fifty day moving average price is $163.15 and its 200-day moving average price is $168.92.

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

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were issued a $1.47 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.7%. Philip Morris International’s payout ratio is 111.79%.

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.