Turtle Creek Wealth Advisors LLC Increases Stock Position in Philip Morris International Inc. $PM

Key Points

• Turtle Creek Wealth Advisors LLC increased its stake in Philip Morris International by 70.7%, owning 27,487 shares valued at approximately $5 million.
• Philip Morris International declared a quarterly dividend of $1.47, up from the previous $1.35, with a yield of 3.7%.
• Market analysts maintain a consensus rating of "Moderate Buy" for Philip Morris International, with a target price of $195.44.

Turtle Creek Wealth Advisors LLC raised its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 70.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,487 shares of the company's stock after buying an additional 11,389 shares during the period. Turtle Creek Wealth Advisors LLC's holdings in Philip Morris International were worth $5,006,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PM. 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 buying an additional 136 shares during the period. Kelly Lawrence W & Associates Inc. CA purchased a new stake in Philip Morris International during the 1st quarter valued at $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 buying an additional 162 shares during the period. Clal Insurance Enterprises Holdings Ltd purchased a new stake in Philip Morris International during the 1st quarter valued at $34,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Philip Morris International during the 1st quarter valued at $35,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Trading Down 0.7%

NYSE:PM opened at $157.88 on Thursday. The company has a 50-day moving average price of $163.89 and a 200-day moving average price of $168.75. The stock has a market cap of $245.75 billion, a price-to-earnings ratio of 30.02, a P/E/G ratio of 2.32 and a beta of 0.46. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. The company had revenue of $8.12 billion during the quarter. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. Equities analysts forecast that Philip Morris International Inc. will post 7.14 EPS 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. Investors of record on Friday, October 3rd will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, October 3rd. This is a positive change from Philip Morris International's previous quarterly dividend of $1.35. Philip Morris International's dividend payout ratio (DPR) is 111.79%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PM. Jefferies Financial Group began coverage on shares of Philip Morris International in a research report on Wednesday, July 9th. They set a "buy" rating and a $220.00 price target for the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Philip Morris International from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Citigroup reaffirmed a "buy" rating on shares of Philip Morris International in a research report on Thursday, September 4th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $195.00 target price on shares of Philip Morris International in a research report on Wednesday, July 23rd. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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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