Philip Morris International Inc. $PM Stock Acquired by Choreo LLC

Key Points

• Choreo LLC increased its Philip Morris International position by 7.1% in the third quarter, adding 10,065 shares for a total holding of 152,500 shares valued at approximately $29.1 million. Institutional investors collectively own 78.63% of the stock.
• Philip Morris reported quarterly earnings of $2.36 per share, beating estimates of $2.30, while revenue rose 5.5% year over year to $11.44 billion.
• The company increased its quarterly dividend to $1.60 per share, or $6.40 annualized, representing a 3.1% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $209.70.

Choreo LLC increased its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 7.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 152,500 shares of the company's stock after acquiring an additional 10,065 shares during the period. Choreo LLC's holdings in Philip Morris International were worth $29,100,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Blueprint Financial Advisors LLC bought a new position in Philip Morris International in the 3rd quarter worth approximately $1,916,000. Livelsberger Financial Advisory acquired a new stake in Philip Morris International in the 3rd quarter valued at approximately $114,000. Sage Rhino Capital LLC acquired a new stake in Philip Morris International in the 3rd quarter valued at approximately $208,000. Financial Network Wealth Advisors LLC raised its stake in Philip Morris International by 9.9% during the 3rd quarter. Financial Network Wealth Advisors LLC now owns 620 shares of the company's stock valued at $118,000 after acquiring an additional 56 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its stake in Philip Morris International by 14.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,971 shares of the company's stock valued at $1,352,000 after acquiring an additional 880 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Price Performance

Philip Morris International stock opened at $208.66 on Friday. The firm has a 50 day simple moving average of $193.86 and a 200-day simple moving average of $181.71. The stock has a market capitalization of $325.23 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 2.72 and a beta of 0.34. Philip Morris International Inc. has a 12-month low of $142.11 and a 12-month high of $210.45.

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

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 26th. Shareholders of record on Friday, October 2nd were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Friday, October 2nd. This is an increase from Philip Morris International's previous quarterly dividend of $1.47. Philip Morris International's dividend payout ratio is 93.43%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. 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 research report on Thursday, October 22nd. BTIG Research set a $221.00 price target on Philip Morris International and gave the company a "buy" rating in a report on Friday, July 24th. Weiss Ratings upgraded shares of Philip Morris International from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, October 8th. Morgan Stanley lifted their price objective on shares of Philip Morris International from $200.00 to $215.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Finally, UBS Group upped their price objective on shares of Philip Morris International from $193.00 to $201.00 and gave the stock a "neutral" rating in a report on Thursday, October 22nd. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $209.70.

Philip Morris International Company Profile

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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