Corient Private Wealth LLC Boosts Holdings in Philip Morris International Inc. $PM

Corient Private Wealth LLC increased its position in Philip Morris International Inc. (NYSE:PM) by 1.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 490,590 shares of the company’s stock after purchasing an additional 5,681 shares during the period. Corient Private Wealth LLC’s holdings in Philip Morris International were worth $89,354,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of Philip Morris International by 31.1% in the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock worth $1,027,000 after acquiring an additional 2,023 shares during the period. Revolve Wealth Partners LLC grew its stake in shares of Philip Morris International by 4.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock valued at $252,000 after purchasing an additional 91 shares during the period. American Century Companies Inc. increased its position in shares of Philip Morris International by 2.2% during the 1st quarter. American Century Companies Inc. now owns 14,748 shares of the company’s stock valued at $2,341,000 after purchasing an additional 323 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Philip Morris International by 5.7% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 115,173 shares of the company’s stock valued at $18,281,000 after purchasing an additional 6,217 shares during the last quarter. Finally, Cascade Financial Partners LLC bought a new position in shares of Philip Morris International in the 1st quarter worth approximately $224,000. 78.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. UBS Group reduced their target price 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. JPMorgan Chase & Co. reduced their price objective on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Wall Street Zen upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, November 17th. Barclays reduced their price target on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a research report on Monday, November 17th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and an average target price of $189.00.

Philip Morris International Stock Up 3.0%

Shares of Philip Morris International stock opened at $158.22 on Tuesday. The company has a market capitalization of $246.29 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 1.83 and a beta of 0.42. The stock’s 50-day simple moving average is $153.71 and its 200-day simple moving average is $165.02. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69.

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

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Investors of record on Friday, December 26th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is presently 106.52%.

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.