Philip Morris International Inc. $PM Shares Bought by Fifth Third Wealth Advisors LLC

Key Points

• Fifth Third Wealth Advisors LLC increased its stake in Philip Morris International by 47% in the second quarter, owning 46,697 shares valued at approximately $8.5 million.
• Philip Morris International declared a quarterly dividend of $1.47 per share, up from the previous $1.35, representing an annual yield of 3.7%.
• Analysts have a consensus "Moderate Buy" rating for Philip Morris International, with an average target price of $195.44.

Fifth Third Wealth Advisors LLC grew its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 47.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,697 shares of the company's stock after acquiring an additional 14,940 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in Philip Morris International were worth $8,505,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Trust Co. of Toledo NA OH increased its holdings in shares of Philip Morris International by 1.6% during the second quarter. Trust Co. of Toledo NA OH now owns 18,342 shares of the company's stock valued at $3,341,000 after acquiring an additional 286 shares in the last quarter. Eastern Bank increased its stake in Philip Morris International by 2.3% during the 2nd quarter. Eastern Bank now owns 3,423 shares of the company's stock valued at $623,000 after purchasing an additional 78 shares in the last quarter. Strong Tower Advisory Services increased its stake in Philip Morris International by 4.7% during the 2nd quarter. Strong Tower Advisory Services now owns 16,729 shares of the company's stock valued at $3,047,000 after purchasing an additional 753 shares in the last quarter. PDS Planning Inc increased its stake in Philip Morris International by 15.7% during the 2nd quarter. PDS Planning Inc now owns 5,765 shares of the company's stock valued at $1,050,000 after purchasing an additional 782 shares in the last quarter. Finally, JB Capital LLC increased its stake in Philip Morris International by 4.7% during the 2nd quarter. JB Capital LLC now owns 5,719 shares of the company's stock valued at $1,042,000 after purchasing an additional 259 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PM shares. Needham & Company LLC reissued a "buy" rating and issued a $195.00 target price on shares of Philip Morris International in a research report on Wednesday, July 23rd. KGI Securities started coverage on Philip Morris International in a report on Monday, August 4th. They issued an "outperform" rating on the stock. Wall Street Zen lowered Philip Morris International from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Jefferies Financial Group initiated coverage on shares of Philip Morris International in a report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price target on the stock. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Philip Morris International in a report on Wednesday. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $195.44.

Philip Morris International Stock Up 2.3%

Philip Morris International stock opened at $160.51 on Friday. The firm has a market cap of $249.85 billion, a price-to-earnings ratio of 30.52, a price-to-earnings-growth ratio of 2.29 and a beta of 0.46. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69. The business's 50-day moving average price is $164.24 and its 200 day moving average price is $168.67.

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

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be given a dividend of $1.47 per share. This is a boost from Philip Morris International's previous quarterly dividend of $1.35. This represents a $5.88 annualized dividend and a yield of 3.7%. The ex-dividend date is Friday, October 3rd. Philip Morris International's dividend payout ratio (DPR) is 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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