Philip Morris International Inc. $PM Stock Bought by Alps Advisors Inc.

Key Points

• Alps Advisors increased its Philip Morris stake 9.8% in the third quarter, adding 6,051 shares to bring its holdings to 67,828 shares, valued at about $12.9 million.
• Analysts’ consensus rating was “Moderate Buy”, with an average price target of $212.40; the stock opened at $197.76.
• Philip Morris beat quarterly earnings and revenue estimates, with revenue up 5.5% year over year, and raised its quarterly dividend to $1.60 per share.

Alps Advisors Inc. increased its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 9.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,828 shares of the company's stock after buying an additional 6,051 shares during the period. Alps Advisors Inc.'s holdings in Philip Morris International were worth $12,943,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PM. Caitong International Asset Management Co. Ltd bought a new position in shares of Philip Morris International in the second quarter valued at approximately $29,000. Cedar Mountain Advisors LLC lifted its holdings in Philip Morris International by 60.2% during the first quarter. Cedar Mountain Advisors LLC now owns 189 shares of the company's stock worth $31,000 after acquiring an additional 71 shares during the period. Kelly Lawrence W & Associates Inc. CA purchased a new position in Philip Morris International in the second quarter worth $34,000. Kilter Group LLC purchased a new position in Philip Morris International in the second quarter worth $35,000. Finally, Wilkerson Advisory Group LLC grew its stake in Philip Morris International by 109.2% in the 1st quarter. Wilkerson Advisory Group LLC now owns 205 shares of the company's stock valued at $34,000 after purchasing an additional 107 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PM shares. Argus increased their price target on shares of Philip Morris International from $210.00 to $220.00 and gave the company a "buy" rating in a research report on Monday, October 26th. Stifel Nicolaus lifted their price objective on shares of Philip Morris International from $205.00 to $232.00 and gave the stock a "buy" rating in a research report on Tuesday, November 3rd. Morgan Stanley boosted their target price 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. BTIG Research set a $221.00 target price on shares of Philip Morris International and gave the company a "buy" rating in a research report on Friday, July 24th. Finally, UBS Group increased their target price on shares of Philip Morris International from $193.00 to $201.00 and gave the company a "neutral" rating in a research report on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Philip Morris International has an average rating of "Moderate Buy" and an average price target of $212.40.

Philip Morris International Stock Performance

Shares of NYSE:PM opened at $197.76 on Friday. Philip Morris International Inc. has a 52-week low of $146.35 and a 52-week high of $214.35. The firm has a fifty day moving average of $195.56 and a 200 day moving average of $182.81. The firm has a market capitalization of $308.25 billion, a PE ratio of 28.87, a price-to-earnings-growth ratio of 2.65 and a beta of 0.34.

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

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 26th. Shareholders of record on Friday, October 2nd were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.2%. This is a positive change from Philip Morris International's previous quarterly dividend of $1.47. The ex-dividend date of this dividend was Friday, October 2nd. Philip Morris International's dividend payout ratio is presently 93.43%.

About Philip Morris International

Philip Morris International is a global tobacco and nicotine company that develops, manufactures and sells cigarettes and smoke-free products. Its cigarette brands include Marlboro in markets outside the United States, along with other regional and international brands.

The company's smoke-free portfolio includes IQOS heated tobacco products, ZYN nicotine pouches and VEEV e-vapor products. Philip Morris International sells its products in markets around the world, with availability varying by country and subject to local regulations.

Philip Morris International became an independent publicly traded company in 2008 after separating from Altria Group.

Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.