TrueMark Investments LLC Has $13.28 Million Position in Philip Morris International Inc. $PM

TrueMark Investments LLC increased its position in shares of Philip Morris International Inc. (NYSE:PM) by 10.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,909 shares of the company’s stock after purchasing an additional 6,820 shares during the quarter. Philip Morris International accounts for approximately 2.9% of TrueMark Investments LLC’s investment portfolio, making the stock its 3rd largest position. TrueMark Investments LLC’s holdings in Philip Morris International were worth $13,279,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Abound Wealth Management lifted its holdings in shares of Philip Morris International by 566.7% in the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after acquiring an additional 136 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new position in shares of Philip Morris International in the first quarter worth about $30,000. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Philip Morris International by 405.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock worth $32,000 after acquiring an additional 162 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of 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 about $35,000. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Philip Morris International stock opened at $158.08 on Friday. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69. The firm has a 50 day moving average price of $163.40 and a two-hundred day moving average price of $168.82. The firm has a market cap of $246.06 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 2.31 and a beta of 0.46.

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

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 3.7%. The ex-dividend date is Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio (DPR) is 111.79%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $195.00 target price on shares of Philip Morris International in a report on Wednesday, July 23rd. Wall Street Zen lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Barclays dropped their price objective on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. UBS Group dropped their price objective on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a report on Friday, September 5th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $195.44.

Philip Morris International 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.