Cwm LLC Purchases 24,725 Shares of Philip Morris International Inc. $PM

Key Points

• Cwm LLC increased its stake in Philip Morris International Inc. by 33.0%, acquiring an additional 24,725 shares, bringing its total holdings to 99,590 shares valued at approximately $18.14 million.
• The company announced a quarterly dividend of $1.47, a rise from the previous $1.35, representing a 3.7% yield for investors.
• Philip Morris International has received mixed analyst ratings, with a consensus rating of "Moderate Buy" and various price targets ranging from $166 to $220.

Cwm LLC raised its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 33.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 99,590 shares of the company's stock after acquiring an additional 24,725 shares during the period. Cwm LLC's holdings in Philip Morris International were worth $18,138,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Abound Wealth Management lifted its stake in Philip Morris International by 566.7% during the 2nd quarter. Abound Wealth Management now owns 160 shares of the company's stock valued at $29,000 after acquiring an additional 136 shares during the period. Kelly Lawrence W & Associates Inc. CA bought a new position in Philip Morris International during the 1st quarter valued at about $30,000. CBIZ Investment Advisory Services LLC lifted its stake in Philip Morris International by 405.0% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company's stock valued at $32,000 after acquiring an additional 162 shares during the period. Clal Insurance Enterprises Holdings Ltd bought a new position in Philip Morris International during the 1st quarter valued at about $34,000. Finally, Redmont Wealth Advisors LLC bought a new position in Philip Morris International during the 1st quarter valued at about $35,000. Institutional investors own 78.63% of the company's stock.

Analyst Upgrades and Downgrades

PM has been the topic of several recent research reports. Wall Street Zen cut shares of Philip Morris International from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. UBS Group lowered their price objective on shares of Philip Morris International from $177.00 to $166.00 and set a "neutral" rating on the stock in a research note on Friday, September 5th. Weiss Ratings reiterated a "buy (b)" rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Needham & Company LLC reiterated a "buy" rating and issued a $195.00 price objective on shares of Philip Morris International in a research note on Wednesday, July 23rd. Finally, Jefferies Financial Group initiated coverage on shares of Philip Morris International in a research note on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price objective on the stock. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $195.44.

Philip Morris International Trading Down 0.7%

Philip Morris International stock opened at $159.31 on Tuesday. The firm has a 50 day moving average of $164.17 and a 200 day moving average of $168.90. The firm has a market capitalization of $247.99 billion, a price-to-earnings ratio of 30.29, a P/E/G ratio of 2.34 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.

Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. The company had revenue of $8.12 billion during the quarter. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. On average, analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

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