Ritholtz Wealth Management Grows Position in Philip Morris International Inc. $PM

Key Points

• Ritholtz Wealth Management increased its stake in Philip Morris International Inc. by 31.7%, owning 80,993 shares valued at approximately $14.75 million after additional purchases.
• Philip Morris International recently announced a quarterly dividend increase to $1.47 per share, up from the previous $1.35, with an annualized yield of 3.7%.
• Despite recent growth in investment, shares of Philip Morris International have experienced a 0.2% decline, with market analysts holding mixed ratings and a consensus price target of $195.44.

Ritholtz Wealth Management grew its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 31.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 80,993 shares of the company's stock after purchasing an additional 19,506 shares during the period. Ritholtz Wealth Management's holdings in Philip Morris International were worth $14,751,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PM. Abound Wealth Management lifted its position in shares of 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 during the period. Kelly Lawrence W & Associates Inc. CA acquired a new stake in Philip Morris International in the first quarter valued at $30,000. CBIZ Investment Advisory Services LLC increased its position in shares of Philip Morris International by 405.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company's stock valued at $32,000 after buying an additional 162 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Philip Morris International during the 1st quarter worth $34,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Philip Morris International in the 1st quarter worth about $35,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Stock Down 0.2%

Shares of NYSE:PM opened at $159.08 on Wednesday. The company has a market cap of $247.62 billion, a P/E ratio of 30.24, a P/E/G ratio of 2.33 and a beta of 0.46. The business has a fifty day simple moving average of $164.07 and a 200-day simple moving average of $168.83. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share 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%. Sell-side 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 business also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be issued a $1.47 dividend. The ex-dividend date is Friday, October 3rd. This is a positive change from Philip Morris International's previous quarterly dividend of $1.35. This represents a $5.88 dividend on an annualized basis and a yield of 3.7%. Philip Morris International's payout ratio is presently 111.79%.

Wall Street Analyst Weigh In

Several analysts have recently commented on PM shares. UBS Group lowered their price target on shares of Philip Morris International from $177.00 to $166.00 and set a "neutral" rating on the stock in a research report on Friday, September 5th. Citigroup reaffirmed a "buy" rating on shares of Philip Morris International in a research note on Thursday, September 4th. Wall Street Zen downgraded Philip Morris International from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Jefferies Financial Group initiated coverage on Philip Morris International in a research report on Wednesday, July 9th. They set a "buy" rating and a $220.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on shares of 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 assigned a Hold rating to the company's stock. According to MarketBeat, Philip Morris International presently has an average rating of "Moderate Buy" and a consensus price target of $195.44.

About Philip Morris International

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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