WealthPlan Investment Management LLC Raises Position in Philip Morris International Inc. $PM

Key Points

• WealthPlan Investment Management LLC increased its position in Philip Morris International by 167.0% in Q2, owning 9,396 shares valued at approximately $1.71 million.
• Philip Morris International recently announced a quarterly dividend increase from $1.35 to $1.47, reflecting an annualized amount of $5.88 with a yield of 3.8%.
• Despite a recent downgrade from Wall Street Zen to a "hold" rating, the stock has a consensus rating of "Moderate Buy" with an average target price of $195.44.

WealthPlan Investment Management LLC raised its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 167.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,396 shares of the company's stock after buying an additional 5,877 shares during the period. WealthPlan Investment Management LLC's holdings in Philip Morris International were worth $1,711,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Linscomb Wealth Inc. boosted its position in Philip Morris International by 3.3% in the 1st quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company's stock valued at $13,207,000 after buying an additional 2,669 shares during the period. Mackenzie Financial Corp lifted its position in shares of Philip Morris International by 7.3% during the 1st quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company's stock worth $568,873,000 after purchasing an additional 242,799 shares during the last quarter. 49 Wealth Management LLC lifted its position in shares of Philip Morris International by 79.0% during the 1st quarter. 49 Wealth Management LLC now owns 5,334 shares of the company's stock worth $847,000 after purchasing an additional 2,354 shares during the last quarter. Cortland Associates Inc. MO lifted its position in shares of Philip Morris International by 704.0% during the 1st quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company's stock worth $22,690,000 after purchasing an additional 125,171 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Philip Morris International by 24.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock worth $69,695,000 after purchasing an additional 87,631 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Price Performance

Shares of PM opened at $155.82 on Friday. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69. The stock has a market cap of $242.55 billion, a PE ratio of 29.62, a price-to-earnings-growth ratio of 2.30 and a beta of 0.46. The firm 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 announced its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The firm had revenue of $8.12 billion during the quarter. As a group, equities analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently disclosed 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 is a boost 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 3.8%. The ex-dividend date is Friday, October 3rd. Philip Morris International's dividend payout ratio (DPR) is presently 111.79%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PM shares. 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. UBS Group decreased their price objective on shares of Philip Morris International from $177.00 to $166.00 and set a "neutral" rating for the company in a research report on Friday, September 5th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Jefferies Financial Group started 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 objective for the company. Finally, Citigroup reaffirmed a "buy" rating on shares of Philip Morris International in a research report on Thursday, September 4th. 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.com, the stock has a consensus 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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