2,028 Shares in Philip Morris International Inc. $PM Purchased by Meadow Creek Wealth Advisors LLC

Key Points

• Meadow Creek Wealth Advisors LLC has acquired 2,028 shares of Philip Morris International, valued at approximately $369,000, marking a new investment in the company.
• Institutional investors currently own 78.63% of Philip Morris International's stock, with several firms recently increasing their stakes in the company.
• Philip Morris International recently increased its dividend to $1.47 per share, resulting in a 3.9% yield, up from the previous dividend of $1.35.

Meadow Creek Wealth Advisors LLC acquired a new position in Philip Morris International Inc. (NYSE:PM - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,028 shares of the company's stock, valued at approximately $369,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Linscomb Wealth Inc. raised its stake in shares of Philip Morris International by 3.3% in the 1st quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company's stock valued at $13,207,000 after buying an additional 2,669 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Philip Morris International by 7.3% during the 1st quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company's stock valued at $568,873,000 after acquiring an additional 242,799 shares in the last quarter. 49 Wealth Management LLC increased its stake in Philip Morris International by 79.0% in the first quarter. 49 Wealth Management LLC now owns 5,334 shares of the company's stock valued at $847,000 after acquiring an additional 2,354 shares during the period. Cortland Associates Inc. MO raised its position in Philip Morris International by 704.0% in the first quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company's stock worth $22,690,000 after purchasing an additional 125,171 shares in the last quarter. Finally, First American Trust FSB lifted its stake in Philip Morris International by 80.0% during the first quarter. First American Trust FSB now owns 56,382 shares of the company's stock worth $8,949,000 after purchasing an additional 25,063 shares during the period. 78.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus set a $186.00 price objective on Philip Morris International in a research note on Tuesday. Barclays lowered their price target on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. UBS Group cut their price objective on Philip Morris International from $177.00 to $166.00 and set a "neutral" rating for the company in a report on Friday, September 5th. Wall Street Zen lowered shares of Philip Morris International from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Citigroup reissued a "buy" rating on shares of Philip Morris International in a report on Thursday, September 4th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $195.44.

Philip Morris International Trading Down 3.9%

PM opened at $151.92 on Wednesday. The stock has a market capitalization of $236.48 billion, a PE ratio of 28.88, a PEG ratio of 2.31 and a beta of 0.46. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69. The firm has a 50-day moving average price of $162.81 and a two-hundred day moving average price of $168.80.

Philip Morris International (NYSE:PM - Get Free Report) last posted 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 120.86% and a net margin of 9.03%.The company had revenue of $8.12 billion for the quarter. On average, research analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Friday, October 3rd. This is a boost from Philip Morris International's previous quarterly dividend of $1.35. Philip Morris International's dividend payout ratio (DPR) is 111.79%.

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.

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