Equitable Trust Co. Increases Stock Position in Philip Morris International Inc. $PM

Key Points

• Equitable Trust Co. has significantly increased its stake in Philip Morris International by 230.5%, acquiring an additional 29,531 shares during the second quarter, bringing its total holdings to 42,343 shares valued at $7.71 million.
• Philip Morris International recently declared a quarterly dividend of $1.47, up from the previous dividend of $1.35, resulting in an annual yield of 3.7%.
• Research analysts have rated Philip Morris International with a consensus of "Moderate Buy", with a target price averaging $195.44.

Equitable Trust Co. raised its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 230.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,343 shares of the company's stock after buying an additional 29,531 shares during the quarter. Equitable Trust Co.'s holdings in Philip Morris International were worth $7,712,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PM. Founders Grove Wealth Partners LLC grew its holdings in Philip Morris International by 21.6% in the second quarter. Founders Grove Wealth Partners LLC now owns 3,881 shares of the company's stock worth $707,000 after purchasing an additional 690 shares during the period. Morningstar Investment Management LLC bought a new stake in shares of Philip Morris International in the 2nd quarter worth approximately $495,000. RFG Advisory LLC boosted its position in shares of Philip Morris International by 1.5% in the 2nd quarter. RFG Advisory LLC now owns 23,942 shares of the company's stock worth $4,361,000 after purchasing an additional 352 shares in the last quarter. Naviter Wealth LLC boosted its position in shares of Philip Morris International by 206.8% in the 2nd quarter. Naviter Wealth LLC now owns 6,412 shares of the company's stock worth $1,172,000 after purchasing an additional 4,322 shares in the last quarter. Finally, Moran Wealth Management LLC bought a new stake in shares of Philip Morris International in the 2nd quarter worth approximately $312,000. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Performance

Shares of Philip Morris International stock opened at $159.31 on Tuesday. The stock's fifty day moving average is $164.17 and its 200 day moving average is $168.90. The stock has a market cap of $247.99 billion, a P/E ratio of 30.29, a P/E/G ratio of 2.34 and a beta of 0.46. Philip Morris International Inc. has a one year low of $116.12 and a one year high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share (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. 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 declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is 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 currently 111.79%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Needham & Company LLC reiterated a "buy" rating and set a $195.00 price objective on shares of Philip Morris International in a research note on Wednesday, July 23rd. Wall Street Zen downgraded shares of Philip Morris International from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. upped their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. KGI Securities initiated coverage on Philip Morris International in a report on Monday, August 4th. They issued an "outperform" rating for the company. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Philip Morris International in a report on Wednesday, October 8th. Eleven research analysts have rated the stock with a Buy rating and one has issued 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 target price of $195.44.

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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