Beacon Harbor Wealth Advisors Inc. Increases Stock Position in Philip Morris International Inc. $PM

Beacon Harbor Wealth Advisors Inc. increased its stake in Philip Morris International Inc. (NYSE:PM) by 66.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,425 shares of the company’s stock after acquiring an additional 15,348 shares during the period. Beacon Harbor Wealth Advisors Inc.’s holdings in Philip Morris International were worth $6,233,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PM. Legacy Investment Solutions LLC purchased a new position in shares of Philip Morris International during the second quarter worth approximately $25,000. Traub Capital Management LLC purchased a new stake in Philip Morris International during the 2nd quarter valued at about $25,000. Marquette Asset Management LLC boosted its holdings in Philip Morris International by 1,677.8% during the 3rd quarter. Marquette Asset Management LLC now owns 160 shares of the company’s stock valued at $26,000 after acquiring an additional 151 shares during the period. Estabrook Capital Management bought a new position in shares of Philip Morris International in the second quarter worth approximately $30,000. Finally, Briaud Financial Planning Inc raised its holdings in Philip Morris International by 266.7% during the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock valued at $30,000 after buying an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Up 1.8%

Shares of NYSE:PM opened at $180.22 on Thursday. The stock has a market capitalization of $280.54 billion, a PE ratio of 32.65, a price-to-earnings-growth ratio of 1.91 and a beta of 0.39. The firm’s 50 day moving average price is $162.98 and its 200-day moving average price is $161.39. Philip Morris International Inc. has a twelve month low of $130.31 and a twelve month high of $186.69.

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Friday, December 26th were given a dividend of $1.47 per share. The ex-dividend date of this dividend was Friday, December 26th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.3%. Philip Morris International’s payout ratio is presently 106.52%.

Wall Street Analysts Forecast Growth

PM has been the subject of a number of recent analyst reports. Stifel Nicolaus set a $180.00 price target on Philip Morris International in a research report on Tuesday, October 21st. JPMorgan Chase & Co. cut their price objective on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 26th. Barclays decreased their price objective on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a report on Monday, November 17th. Wall Street Zen cut Philip Morris International from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research note on Thursday, January 22nd. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $184.56.

Philip Morris International Company 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.