Commonwealth Financial Services LLC Has $515,000 Position in Philip Morris International Inc. $PM

Commonwealth Financial Services LLC grew its holdings in Philip Morris International Inc. (NYSE:PM) by 3.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,825 shares of the company’s stock after purchasing an additional 93 shares during the quarter. Commonwealth Financial Services LLC’s holdings in Philip Morris International were worth $515,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of PM. Nuveen LLC acquired a new position in Philip Morris International in the first quarter worth $1,712,994,000. Wellington Management Group LLP boosted its stake in Philip Morris International by 26.4% in the first quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock worth $3,466,730,000 after purchasing an additional 4,563,632 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Philip Morris International by 57.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock worth $1,554,686,000 after purchasing an additional 3,575,158 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Philip Morris International by 22.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,018,628 shares of the company’s stock worth $1,431,527,000 after purchasing an additional 1,635,636 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Philip Morris International by 111.1% in the first quarter. AQR Capital Management LLC now owns 3,002,216 shares of the company’s stock worth $473,660,000 after purchasing an additional 1,580,368 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PM shares. Wall Street Zen lowered Philip Morris International from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday. Jefferies Financial Group started coverage on Philip Morris International in a research note on Wednesday, July 9th. They set a “buy” rating and a $220.00 price target on the stock. Barclays cut their price target on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 price target on shares of Philip Morris International in a research note on Wednesday, July 23rd. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $195.44.

Philip Morris International Trading Up 2.3%

NYSE PM opened at $160.51 on Friday. The stock has a 50-day simple moving average of $164.24 and a 200 day simple moving average of $168.77. The company has a market capitalization of $249.85 billion, a PE ratio of 30.52, a P/E/G ratio of 2.34 and a beta of 0.46. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The business had revenue of $8.12 billion during the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. As a group, sell-side analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

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