Elite Wealth Management Inc. Acquires New Holdings in Philip Morris International Inc. $PM

Elite Wealth Management Inc. bought a new stake in shares of Philip Morris International Inc. (NYSE:PM) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 26,404 shares of the company’s stock, valued at approximately $4,283,000. Philip Morris International accounts for 1.1% of Elite Wealth Management Inc.’s investment portfolio, making the stock its 17th largest position.

Several other large investors also recently made changes to their positions in PM. Legacy Investment Solutions LLC acquired a new stake in Philip Morris International in the 2nd quarter valued at approximately $25,000. Traub Capital Management LLC bought a new position in shares of Philip Morris International in the second quarter worth $25,000. Marquette Asset Management LLC increased its holdings in shares of Philip Morris International by 1,677.8% during the third quarter. Marquette Asset Management LLC now owns 160 shares of the company’s stock valued at $26,000 after purchasing an additional 151 shares during the period. Abound Wealth Management raised its stake in shares of Philip Morris International by 566.7% during the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after purchasing an additional 136 shares in the last quarter. Finally, Briaud Financial Planning Inc lifted its holdings in Philip Morris International by 266.7% in the second quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Shares of NYSE:PM opened at $162.61 on Monday. The company has a market capitalization of $253.13 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 1.75 and a beta of 0.40. The stock has a fifty day moving average of $155.63 and a 200-day moving average of $162.01. Philip Morris International Inc. has a one year low of $116.12 and a one year high of $186.69.

Philip Morris International (NYSE:PM) last announced 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. As a group, research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is presently 106.52%.

Wall Street Analyst Weigh In

PM has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday. Morgan Stanley set a $175.00 target price on Philip Morris International and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. The Goldman Sachs Group reiterated a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. cut their price objective on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $189.00.

Philip Morris International Profile

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.