Philip Morris International Inc. $PM Position Boosted by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services increased its Philip Morris stake by 19.9% in the third quarter, adding 61,991 shares and bringing its holdings to 372,905 shares, valued at about $71.2 million.
• Philip Morris beat quarterly earnings and revenue estimates, reporting EPS of $2.36 and revenue of $11.44 billion; revenue rose 5.5% year over year.
• The company raised its quarterly dividend from $1.47 to $1.60 per share. Analysts’ average rating was “Moderate Buy,” with an average price target of $212.40.

Kestra Advisory Services LLC raised its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 19.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 372,905 shares of the company's stock after purchasing an additional 61,991 shares during the period. Kestra Advisory Services LLC's holdings in Philip Morris International were worth $71,158,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of PM. Financial Network Wealth Advisors LLC increased its stake in shares of Philip Morris International by 9.9% during the 3rd quarter. Financial Network Wealth Advisors LLC now owns 620 shares of the company's stock worth $118,000 after purchasing an additional 56 shares in the last quarter. Hughes Financial Services LLC raised its position in shares of Philip Morris International by 8.4% during the 3rd quarter. Hughes Financial Services LLC now owns 719 shares of the company's stock worth $150,000 after purchasing an additional 56 shares during the last quarter. Platt Wealth Management LLC raised its position in shares of Philip Morris International by 2.1% during the 2nd quarter. Platt Wealth Management LLC now owns 2,833 shares of the company's stock worth $512,000 after purchasing an additional 58 shares during the last quarter. Security Financial Services INC. raised its position in shares of Philip Morris International by 2.2% during the 3rd quarter. Security Financial Services INC. now owns 2,978 shares of the company's stock worth $568,000 after purchasing an additional 64 shares during the last quarter. Finally, Clearwater Capital Advisors LLC raised its position in shares of Philip Morris International by 2.4% during the 1st quarter. Clearwater Capital Advisors LLC now owns 2,798 shares of the company's stock worth $463,000 after purchasing an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Stock Performance

Philip Morris International stock opened at $201.26 on Friday. Philip Morris International Inc. has a 1 year low of $146.35 and a 1 year high of $214.35. The firm has a 50 day moving average price of $195.42 and a 200 day moving average price of $182.66. The company has a market cap of $313.69 billion, a price-to-earnings ratio of 29.38, a PEG ratio of 2.83 and a beta of 0.34.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings results on Wednesday, October 21st. The company reported $2.36 earnings per share for the quarter, topping analysts' consensus estimates of $2.30 by $0.06. The company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $11.32 billion. Philip Morris International had a net margin of 10.73% and a negative return on equity of 183.96%. Philip Morris International's revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.24 earnings per share. Sell-side analysts predict that Philip Morris International Inc. will post 8.32 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Friday, October 2nd were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Friday, October 2nd. This is a positive change from Philip Morris International's previous quarterly dividend of $1.47. Philip Morris International's payout ratio is currently 93.43%.

Analyst Upgrades and Downgrades

PM has been the topic of a number of analyst reports. BTIG Research set a $221.00 target price on Philip Morris International and gave the company a "buy" rating in a report on Friday, July 24th. Citigroup raised their price target on Philip Morris International from $210.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Needham & Company LLC boosted their price target on Philip Morris International from $215.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, October 22nd. Argus upped their price objective on Philip Morris International from $210.00 to $220.00 and gave the company a "buy" rating in a research report on Monday, October 26th. Finally, Barclays raised their price target on shares of Philip Morris International from $205.00 to $225.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $212.40.

About Philip Morris International

Philip Morris International Inc NYSE: PM is a global tobacco and nicotine company headquartered in Stamford, Connecticut. It was established as an independent company in 2008 following the separation of Philip Morris International from Altria Group. The company develops, manufactures and markets tobacco, nicotine and other related consumer products primarily outside the United States.

Its portfolio includes internationally recognized cigarette brands such as Marlboro, Parliament, L&M, Chesterfield and Bond Street.

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