Kestra Private Wealth Services LLC Increases Stake in Philip Morris International Inc. (NYSE:PM)

view original post

Kestra Private Wealth Services LLC lifted its holdings in shares of Philip Morris International Inc. (NYSE:PMGet Rating) by 12.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,142 shares of the company’s stock after acquiring an additional 2,184 shares during the period. Kestra Private Wealth Services LLC’s holdings in Philip Morris International were worth $1,798,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Carnegie Capital Asset Management LLC raised its position in shares of Philip Morris International by 2.6% during the 1st quarter. Carnegie Capital Asset Management LLC now owns 8,836 shares of the company’s stock worth $830,000 after acquiring an additional 223 shares in the last quarter. M Holdings Securities Inc. acquired a new stake in Philip Morris International during the 1st quarter worth $1,882,000. Edgemoor Investment Advisors Inc. boosted its stake in Philip Morris International by 14.7% during the 1st quarter. Edgemoor Investment Advisors Inc. now owns 2,940 shares of the company’s stock worth $276,000 after purchasing an additional 376 shares during the period. Scotia Capital Inc. boosted its stake in Philip Morris International by 3.5% during the 1st quarter. Scotia Capital Inc. now owns 50,830 shares of the company’s stock worth $4,775,000 after purchasing an additional 1,705 shares during the period. Finally, Crestwood Advisors Group LLC lifted its stake in shares of Philip Morris International by 6.0% in the 4th quarter. Crestwood Advisors Group LLC now owns 28,978 shares of the company’s stock worth $2,753,000 after acquiring an additional 1,631 shares during the period. Institutional investors and hedge funds own 76.00% of the company’s stock.

Analyst Ratings Changes

PM has been the subject of several recent analyst reports. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Tuesday, July 26th. Jefferies Financial Group reduced their target price on shares of Philip Morris International from $107.00 to $99.00 in a research note on Tuesday, July 19th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $109.13.

Philip Morris International Trading Up 0.4 %

NYSE:PM opened at $94.04 on Friday. The firm has a 50-day moving average price of $96.12 and a two-hundred day moving average price of $98.55. Philip Morris International Inc. has a twelve month low of $85.64 and a twelve month high of $112.48. The company has a market capitalization of $145.78 billion, a P/E ratio of 16.16, a price-to-earnings-growth ratio of 3.61 and a beta of 0.62.

Philip Morris International (NYSE:PMGet Rating) last issued its quarterly earnings results on Thursday, July 21st. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.22. The business had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $6.76 billion. Philip Morris International had a net margin of 11.05% and a negative return on equity of 115.36%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.57 earnings per share. On average, equities research analysts predict that Philip Morris International Inc. will post 5.99 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 12th. Investors of record on Wednesday, September 28th will be issued a dividend of $1.27 per share. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.25. The ex-dividend date is Tuesday, September 27th. This represents a $5.08 annualized dividend and a dividend yield of 5.40%. Philip Morris International’s payout ratio is presently 85.91%.

Philip Morris International Company Profile

(Get Rating)

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 that are sold in markets outside the United States.

See Also

Receive News & Ratings for Philip Morris International Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Philip Morris International and related companies with MarketBeat.com’s FREE daily email newsletter.

Related Posts