Primoris Wealth Advisors LLC Increases Holdings in Philip Morris International Inc. $PM

Key Points

• Primoris Wealth Advisors LLC increased its holdings in Philip Morris International by 41.9% during the second quarter, owning around $3.79 million worth of shares, making it the firm’s 12th largest holding.
• Philip Morris International has recently declared a quarterly dividend of $1.47, boosting the annualized dividend to $5.88 with a yield of 3.8%.
• Wall Street analysts remain optimistic about Philip Morris stock, with eleven analysts issuing a Buy rating and setting an average target price of $195.44.

Primoris Wealth Advisors LLC boosted its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 41.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,813 shares of the company's stock after purchasing an additional 6,150 shares during the period. Philip Morris International comprises approximately 2.6% of Primoris Wealth Advisors LLC's holdings, making the stock its 12th largest holding. Primoris Wealth Advisors LLC's holdings in Philip Morris International were worth $3,791,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Abound Wealth Management boosted its position in Philip Morris International by 566.7% during the 2nd quarter. Abound Wealth Management now owns 160 shares of the company's stock valued at $29,000 after acquiring an additional 136 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new stake in Philip Morris International during the 1st quarter valued at approximately $30,000. CBIZ Investment Advisory Services LLC boosted its position in Philip Morris International by 405.0% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company's stock valued at $32,000 after acquiring an additional 162 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Philip Morris International in the 1st quarter worth approximately $34,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Philip Morris International in the 1st quarter worth approximately $35,000. 78.63% of the stock is owned by institutional investors.

Philip Morris International Price Performance

NYSE:PM opened at $155.82 on Friday. The firm has a market capitalization of $242.55 billion, a price-to-earnings ratio of 29.62, a price-to-earnings-growth ratio of 2.30 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. The business has a fifty day moving average price of $163.64 and a 200-day moving average price of $168.73.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The firm had revenue of $8.12 billion during the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. On average, equities research analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal 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 3.8%. 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%.

Wall Street Analyst Weigh In

PM has been the topic of a number of analyst reports. Barclays dropped their price target on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Jefferies Financial Group began coverage on Philip Morris International in a research report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price objective on the stock. Needham & Company LLC reiterated a "buy" rating and set a $195.00 target price on shares of Philip Morris International in a research note on Wednesday, July 23rd. Citigroup restated a "buy" rating on shares of Philip Morris International in a research note on Thursday, September 4th. Finally, JPMorgan Chase & Co. upped their price target on Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average 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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