Apollon Wealth Management LLC Purchases 9,074 Shares of Philip Morris International Inc. $PM

Key Points

• Apollon Wealth Management LLC increased its holdings in Philip Morris International by 16.7% in Q2, acquiring an additional 9,074 shares, bringing its total to 63,450 shares valued at approximately $11.56 million.
• Several institutional investors, including PFS Partners LLC and Perigon Wealth Management LLC, have also increased their stakes in Philip Morris, which now sees 78.63% of its stock owned by institutional investors.
• Philip Morris International announced a quarterly dividend increase from $1.35 to $1.47, representing an annualized yield of 3.7% with a payout ratio of 111.79%.

Apollon Wealth Management LLC boosted its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 16.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,450 shares of the company's stock after purchasing an additional 9,074 shares during the quarter. Apollon Wealth Management LLC's holdings in Philip Morris International were worth $11,556,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. PFS Partners LLC raised its holdings in Philip Morris International by 24.8% in the second quarter. PFS Partners LLC now owns 292 shares of the company's stock worth $53,000 after purchasing an additional 58 shares in the last quarter. Perigon Wealth Management LLC increased its holdings in shares of Philip Morris International by 0.4% during the first quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company's stock valued at $2,236,000 after acquiring an additional 60 shares in the last quarter. TBH Global Asset Management LLC increased its holdings in shares of Philip Morris International by 0.9% during the first quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company's stock valued at $1,100,000 after acquiring an additional 61 shares in the last quarter. Uncommon Cents Investing LLC increased its holdings in shares of Philip Morris International by 1.1% during the second quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company's stock valued at $1,032,000 after acquiring an additional 61 shares in the last quarter. Finally, NFP Retirement Inc. increased its holdings in shares of Philip Morris International by 2.5% during the first quarter. NFP Retirement Inc. now owns 2,589 shares of the company's stock valued at $411,000 after acquiring an additional 62 shares in the last quarter. Institutional investors own 78.63% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PM shares. Barclays reduced their price target on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Wall Street Zen downgraded Philip Morris International from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Jefferies Financial Group started coverage on Philip Morris International in a report on Wednesday, July 9th. They set a "buy" rating and a $220.00 price target for the company. Needham & Company LLC restated a "buy" rating and set a $195.00 price target on shares of Philip Morris International in a report on Wednesday, July 23rd. Finally, Citigroup restated a "buy" rating on shares of Philip Morris International in a report on Thursday, September 4th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $195.44.

Philip Morris International Stock Performance

NYSE PM opened at $160.51 on Friday. Philip Morris International Inc. has a one year low of $116.12 and a one year high of $186.69. The stock has a 50-day moving average of $164.24 and a 200 day moving average of $168.67. The company has a market capitalization of $249.85 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 2.29 and a beta of 0.46.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 EPS 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 during the quarter. On average, equities analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be given a $1.47 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This is a positive change from Philip Morris International's previous quarterly dividend of $1.35. This represents a $5.88 annualized dividend and a yield of 3.7%. Philip Morris International's payout ratio is 111.79%.

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.

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