Philip Morris International Inc. $PM Shares Purchased by Forvis Mazars Wealth Advisors LLC

Forvis Mazars Wealth Advisors LLC raised its stake in shares of Philip Morris International Inc. (NYSE:PM) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,755 shares of the company’s stock after acquiring an additional 354 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Philip Morris International were worth $2,323,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. PFS Partners LLC increased its holdings in Philip Morris International by 24.8% in the second quarter. PFS Partners LLC now owns 292 shares of the company’s stock valued at $53,000 after buying an additional 58 shares during the last quarter. Perigon Wealth Management LLC grew its position in shares of Philip Morris International by 0.4% in the 1st quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company’s stock worth $2,236,000 after acquiring an additional 60 shares in the last quarter. TBH Global Asset Management LLC increased its holdings in shares of Philip Morris International by 0.9% in the 1st quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company’s stock valued at $1,100,000 after acquiring an additional 61 shares during the last quarter. Uncommon Cents Investing LLC raised its position in shares of Philip Morris International by 1.1% during the 2nd quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company’s stock valued at $1,032,000 after acquiring an additional 61 shares in the last quarter. Finally, NFP Retirement Inc. raised its position in shares of Philip Morris International by 2.5% during the 1st quarter. NFP Retirement Inc. now owns 2,589 shares of the company’s stock valued at $411,000 after acquiring an additional 62 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PM. JPMorgan Chase & Co. boosted their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $195.00 price target on shares of Philip Morris International in a report on Wednesday, July 23rd. Barclays dropped their price objective 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. UBS Group decreased their target price on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research note on Friday, September 5th. Finally, Citigroup reiterated a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. 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 has a consensus rating of “Moderate Buy” and a consensus target price of $195.44.

Philip Morris International Stock Up 1.3%

Philip Morris International stock opened at $158.08 on Monday. 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 $246.06 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 2.31 and a beta of 0.46. The firm has a 50-day moving average price of $163.40 and a two-hundred day moving average price of $168.86.

Philip Morris International (NYSE:PM) last released its quarterly 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%. Research 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 declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.7%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Friday, October 3rd. Philip Morris International’s dividend payout ratio is 111.79%.

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.