Philip Morris International Inc. $PM Stock: Kestra Investment Management LLC Decreases Holdings

Kestra Investment Management LLC reduced its position in Philip Morris International Inc. (NYSE:PM) by 16.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,814 shares of the company’s stock after selling 4,456 shares during the quarter. Kestra Investment Management LLC’s holdings in Philip Morris International were worth $4,353,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PM. GQG Partners LLC acquired a new position in shares of Philip Morris International in the 2nd quarter worth approximately $8,220,008,000. Bank of America Corp DE bought a new stake in shares of Philip Morris International in the 2nd quarter valued at approximately $3,075,267,000. Legal & General Group Plc bought a new stake in shares of Philip Morris International in the 2nd quarter valued at approximately $1,316,151,000. Jupiter Topco LLC bought a new stake in shares of Philip Morris International in the 2nd quarter valued at approximately $726,464,000. Finally, Bank of New York Mellon Corp raised its position in shares of Philip Morris International by 30.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 11,669,878 shares of the company’s stock valued at $2,111,198,000 after acquiring an additional 2,755,662 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Trading Down 2.4%

NYSE:PM opened at $193.16 on Tuesday. The firm has a market capitalization of $301.07 billion, a PE ratio of 28.20, a price-to-earnings-growth ratio of 2.83 and a beta of 0.34. The stock has a 50 day moving average of $195.59 and a 200-day moving average of $182.93. Philip Morris International Inc. has a 52 week low of $146.35 and a 52 week high of $214.35.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.06. The business had revenue of $11.44 billion for 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 business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.24 EPS. As a group, analysts predict that Philip Morris International Inc. will post 8.32 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Friday, October 2nd were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Friday, October 2nd. This is an increase from Philip Morris International’s previous quarterly dividend of $1.47. Philip Morris International’s dividend payout ratio (DPR) is currently 93.43%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PM. Needham & Company LLC raised their price objective on Philip Morris International from $215.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, October 22nd. BTIG Research set a $221.00 target price on shares of Philip Morris International and gave the company a “buy” rating in a research note on Friday, July 24th. Barclays boosted their target price on shares of Philip Morris International from $205.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. UBS Group increased their target price on shares of Philip Morris International from $193.00 to $201.00 and gave the stock a “neutral” rating in a report on Thursday, October 22nd. Finally, Stifel Nicolaus raised their price target 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. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $212.40.

Philip Morris International Company Profile

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.