Bleakley Financial Group LLC Grows Stock Holdings in Philip Morris International Inc. $PM

Key Points

• Bleakley Financial Group LLC increased its stake in Philip Morris International by 19.2% during Q2, owning a total of 117,873 shares now valued at approximately $21.47 million.
• Analysts have set a consensus price target of $194.00 for Philip Morris shares, with a mix of ratings including twelve "Buy" and one "Hold."
• Philip Morris recently raised its quarterly dividend from $1.35 to $1.47, equating to a yield of 3.7%, although it has a high payout ratio of over 106%.

Bleakley Financial Group LLC grew its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 19.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 117,873 shares of the company's stock after buying an additional 19,016 shares during the period. Bleakley Financial Group LLC's holdings in Philip Morris International were worth $21,468,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Insight Advisors LLC PA lifted its holdings in shares of Philip Morris International by 2.8% during the 2nd quarter. Insight Advisors LLC PA now owns 2,419 shares of the company's stock valued at $441,000 after purchasing an additional 67 shares during the last quarter. Strategic Blueprint LLC increased its position in Philip Morris International by 4.2% during the 2nd quarter. Strategic Blueprint LLC now owns 8,452 shares of the company's stock valued at $1,539,000 after buying an additional 342 shares in the last quarter. Forum Financial Management LP raised its stake in Philip Morris International by 3.1% in the second quarter. Forum Financial Management LP now owns 14,672 shares of the company's stock valued at $2,672,000 after buying an additional 437 shares during the last quarter. Ethic Inc. boosted its holdings in Philip Morris International by 13.2% in the second quarter. Ethic Inc. now owns 37,406 shares of the company's stock worth $6,772,000 after acquiring an additional 4,350 shares in the last quarter. Finally, Meadow Creek Wealth Advisors LLC purchased a new stake in shares of Philip Morris International during the second quarter worth about $369,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on PM. Stifel Nicolaus set a $180.00 price objective on shares of Philip Morris International in a research report on Tuesday. Citigroup reaffirmed a "buy" rating on shares of Philip Morris International in a report on Thursday, September 4th. Barclays dropped their price objective on shares of Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. UBS Group cut their target price on Philip Morris International from $177.00 to $166.00 and set a "neutral" rating on the stock in a research report on Friday, September 5th. Finally, Wall Street Zen cut Philip Morris International from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $194.00.

Philip Morris International Price Performance

PM stock opened at $156.91 on Thursday. The company has a market capitalization of $244.25 billion, a P/E ratio of 28.43, a price-to-earnings-growth ratio of 2.22 and a beta of 0.46. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69. The firm's fifty day simple moving average is $162.64 and its 200-day simple moving average is $168.72.

Philip Morris International (NYSE:PM - Get Free Report) 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 net margin of 9.03% and a negative return on equity of 120.17%. The firm had revenue of $8.12 billion during the quarter. As a group, sell-side analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were issued a $1.47 dividend. This is a boost from Philip Morris International's previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $5.88 annualized dividend and a dividend yield of 3.7%. Philip Morris International's payout ratio is presently 106.52%.

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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