Cypress Capital Group Acquires 1,956 Shares of Philip Morris International Inc. $PM

Key Points

• Cypress Capital Group increased its holdings in Philip Morris International by 4.1%, acquiring an additional 1,956 shares, bringing its total ownership to 50,200 shares valued at approximately $9.14 million.
• Philip Morris International recently announced a quarterly dividend increase from $1.35 to $1.47, representing a yield of 3.7% and a payout ratio of 111.79%.
• Analysts have mixed ratings for Philip Morris International, with JPMorgan raising its target price to $190.00, while UBS Group lowered it to $166.00, reflecting varied expectations on the stock's performance.

Cypress Capital Group lifted its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 4.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 50,200 shares of the company's stock after purchasing an additional 1,956 shares during the period. Philip Morris International accounts for about 1.1% of Cypress Capital Group's investment portfolio, making the stock its 23rd biggest position. Cypress Capital Group's holdings in Philip Morris International were worth $9,143,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of PM. Brighton Jones LLC lifted its holdings in Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock worth $1,027,000 after buying an additional 2,023 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of Philip Morris International by 4.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company's stock valued at $252,000 after purchasing an additional 91 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Philip Morris International by 26.5% during the 1st quarter. GAMMA Investing LLC now owns 28,268 shares of the company's stock valued at $4,487,000 after purchasing an additional 5,930 shares during the last quarter. Tritonpoint Wealth LLC increased its position in shares of Philip Morris International by 10.5% in the 1st quarter. Tritonpoint Wealth LLC now owns 3,095 shares of the company's stock valued at $495,000 after acquiring an additional 294 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Philip Morris International by 24.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock valued at $69,695,000 after acquiring an additional 87,631 shares during the period. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Price Performance

Shares of NYSE PM opened at $160.51 on Monday. The company has a 50 day simple moving average of $164.24 and a 200-day simple moving average of $168.87. The company has a market capitalization of $249.85 billion, a P/E ratio of 30.52, a P/E/G ratio of 2.34 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.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. The business 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%. As a group, research analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The business 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. This is a boost from Philip Morris International's previous quarterly dividend of $1.35. The ex-dividend date is Friday, October 3rd. This represents a $5.88 annualized dividend and a yield of 3.7%. Philip Morris International's payout ratio is 111.79%.

Wall Street Analysts Forecast Growth

PM has been the topic of several research reports. 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. JPMorgan Chase & Co. raised their target price on Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Wall Street Zen lowered shares of Philip Morris International from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Citigroup reaffirmed a "buy" rating on shares of Philip Morris International in a research note on Thursday, September 4th. 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 target price on the stock. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Philip Morris International presently has a consensus rating of "Moderate Buy" and an average price target of $195.44.

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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