Westshore Wealth LLC Grows Position in Philip Morris International Inc. (NYSE:PM)

Westshore Wealth LLC increased its position in shares of Philip Morris International Inc. (NYSE:PMGet Rating) by 56.8% during the second quarter, Holdings Channel reports. The institutional investor owned 7,192 shares of the company’s stock after buying an additional 2,604 shares during the quarter. Philip Morris International comprises about 0.5% of Westshore Wealth LLC’s portfolio, making the stock its 27th largest holding. Westshore Wealth LLC’s holdings in Philip Morris International were worth $710,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Tcwp LLC purchased a new position in Philip Morris International in the first quarter valued at approximately $26,000. Bivin & Associates Inc. purchased a new position in shares of Philip Morris International during the fourth quarter worth approximately $27,000. Sandy Cove Advisors LLC purchased a new position in shares of Philip Morris International during the first quarter worth approximately $28,000. American National Bank grew its position in shares of Philip Morris International by 89.1% during the first quarter. American National Bank now owns 312 shares of the company’s stock worth $29,000 after acquiring an additional 147 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Philip Morris International during the first quarter worth approximately $33,000. 76.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PM shares. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Tuesday, July 26th. Jefferies Financial Group lowered their target price on shares of Philip Morris International from $107.00 to $99.00 in a research report 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 target price of $109.13.

Philip Morris International Stock Performance

Philip Morris International stock traded down $3.58 during midday trading on Friday, reaching $92.21. The company’s stock had a trading volume of 78,950 shares, compared to its average volume of 3,687,014. Philip Morris International Inc. has a fifty-two week low of $85.64 and a fifty-two week high of $112.48. The stock’s 50 day simple moving average is $96.48 and its 200 day simple moving average is $98.36. The firm has a market capitalization of $142.94 billion, a PE ratio of 16.08, a P/E/G ratio of 3.72 and a beta of 0.62.

Philip Morris International (NYSE:PMGet Rating) last released its earnings results on Thursday, July 21st. The company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.24. Philip Morris International had a negative return on equity of 115.36% and a net margin of 11.05%. The company had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $6.76 billion. During the same quarter last year, the company earned $1.57 earnings per share. Philip Morris International’s quarterly revenue was down .1% compared to the same quarter last year. Equities analysts predict that Philip Morris International Inc. will post 5.99 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 12th. Stockholders of record on Wednesday, September 28th will be given a $1.27 dividend. The ex-dividend date of this dividend is Tuesday, September 27th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.51%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.25. Philip Morris International’s dividend payout ratio (DPR) is currently 85.91%.

About Philip Morris International

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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

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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