Philip Morris International Inc. $PM Stock: Jefferies Financial Group Inc. Increases Position

Jefferies Financial Group Inc. lifted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 234.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,403 shares of the company’s stock after acquiring an additional 20,608 shares during the period. Jefferies Financial Group Inc.’s holdings in Philip Morris International were worth $5,611,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PM. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Philip Morris International in the 2nd quarter valued at approximately $29,000. Wilkerson Advisory Group LLC increased its holdings in shares of Philip Morris International by 109.2% during the 1st quarter. Wilkerson Advisory Group LLC now owns 205 shares of the company’s stock worth $34,000 after buying an additional 107 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA purchased a new stake in shares of Philip Morris International during the 2nd quarter valued at approximately $34,000. Kilter Group LLC purchased a new stake in shares of Philip Morris International during the 2nd quarter valued at approximately $35,000. Finally, Evergreen Advisors LLC purchased a new stake in shares of Philip Morris International during the 1st quarter valued at approximately $46,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Performance

NYSE:PM opened at $197.42 on Friday. The stock has a market capitalization of $307.71 billion, a P/E ratio of 28.82, a PEG ratio of 2.63 and a beta of 0.34. The company has a 50 day moving average price of $196.09 and a 200 day moving average price of $183.28. 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 posted its earnings results on Wednesday, October 21st. The company reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.06. The firm had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $11.32 billion. Philip Morris International had a net margin of 10.73% and a negative return on equity of 183.96%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm 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 declared a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Friday, October 2nd were given a dividend of $1.60 per share. This is an increase from Philip Morris International’s previous quarterly dividend of $1.47. This represents a $6.40 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, October 2nd. Philip Morris International’s dividend payout ratio (DPR) is 93.43%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Argus increased their price objective on Philip Morris International from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Monday, October 26th. Barclays lifted their target price on Philip Morris International from $205.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. BTIG Research set a $221.00 price target on Philip Morris International and gave the company a “buy” rating in a research note on Friday, July 24th. Weiss Ratings upgraded Philip Morris International from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, November 4th. Finally, Stifel Nicolaus raised their price objective on Philip Morris International from $205.00 to $232.00 and gave the stock a “buy” rating in a research report on Tuesday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned 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 $213.90.

Philip Morris International Company Profile

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.