Ibex Wealth Advisors Makes New $5.38 Million Investment in Philip Morris International Inc. $PM

Ibex Wealth Advisors purchased a new stake in shares of Philip Morris International Inc. (NYSE:PM) during the second quarter, Holdings Channel reports. The fund purchased 29,530 shares of the company’s stock, valued at approximately $5,378,000.

Other hedge funds have also recently bought and sold shares of the company. WCM Investment Management LLC increased its holdings in shares of Philip Morris International by 24,968.0% during the 2nd quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock valued at $2,041,223,000 after acquiring an additional 11,230,626 shares during the last quarter. Nuveen LLC acquired a new stake in Philip Morris International in the 1st quarter worth approximately $1,712,994,000. Wellington Management Group LLP grew its holdings in Philip Morris International by 26.4% during the first quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock valued at $3,466,730,000 after purchasing an additional 4,563,632 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of 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 valued at $1,554,686,000 after purchasing an additional 3,575,158 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of 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 buying an additional 1,635,636 shares during the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Barclays lowered their target price on shares of 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. Wall Street Zen downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research report on Sunday. Citigroup reiterated a “buy” rating on shares of Philip Morris International in a research note 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. Finally, KGI Securities assumed coverage on Philip Morris International in a report on Monday, August 4th. They issued an “outperform” rating on the stock. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $194.00.

Philip Morris International Stock Performance

NYSE PM opened at $153.26 on Monday. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69. The stock has a market cap of $238.58 billion, a PE ratio of 27.77, a PEG ratio of 2.22 and a beta of 0.43. The firm has a 50-day simple moving average of $158.30 and a 200 day simple moving average of $168.38.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results 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 9.33%.The firm had revenue of $8.12 billion during the quarter. Research analysts forecast that Philip Morris International Inc. will post 7.14 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 20th. Investors of record on Friday, October 3rd were given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.8%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Friday, October 3rd. Philip Morris International’s dividend payout ratio (DPR) is 106.52%.

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.