Advisors Capital Management LLC Has $122.93 Million Position in Philip Morris International Inc. $PM

Advisors Capital Management LLC grew its position in Philip Morris International Inc. (NYSE:PM) by 1.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 674,953 shares of the company’s stock after purchasing an additional 10,875 shares during the period. Philip Morris International comprises about 1.7% of Advisors Capital Management LLC’s portfolio, making the stock its 5th largest position. Advisors Capital Management LLC’s holdings in Philip Morris International were worth $122,929,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. WP Advisors LLC increased its stake in Philip Morris International by 2.7% in the 2nd quarter. WP Advisors LLC now owns 6,432 shares of the company’s stock valued at $1,172,000 after buying an additional 171 shares during the last quarter. Grandfield & Dodd LLC boosted its stake in shares of Philip Morris International by 6.6% in the 2nd quarter. Grandfield & Dodd LLC now owns 6,911 shares of the company’s stock worth $1,259,000 after buying an additional 427 shares during the last quarter. Hibernia Wealth Partners LLC bought a new position in shares of Philip Morris International in the second quarter valued at approximately $381,000. Clearstead Trust LLC grew its holdings in shares of Philip Morris International by 90.0% in the second quarter. Clearstead Trust LLC now owns 361 shares of the company’s stock valued at $66,000 after acquiring an additional 171 shares in the last quarter. Finally, Thompson Davis & CO. Inc. purchased a new stake in shares of Philip Morris International during the second quarter valued at approximately $382,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on PM shares. Morgan Stanley set a $175.00 price objective on Philip Morris International and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Stifel Nicolaus set a $180.00 price target on shares of Philip Morris International in a research report on Tuesday, October 21st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $194.00.

Philip Morris International Stock Down 0.3%

Shares of NYSE PM opened at $155.12 on Friday. The company has a market cap of $241.47 billion, a P/E ratio of 28.10, a P/E/G ratio of 2.25 and a beta of 0.43. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69. The business has a 50-day simple moving average of $157.58 and a two-hundred day simple moving average of $168.00.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The firm had revenue of $8.12 billion for the quarter. Equities research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were paid a $1.47 dividend. The ex-dividend date was Friday, October 3rd. This represents a $5.88 annualized dividend and a yield of 3.8%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio is currently 106.52%.

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.