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

Spire Wealth Management grew its position in Philip Morris International Inc. (NYSE:PM) by 235.9% during the third quarter, HoldingsChannel.com reports. The fund owned 43,288 shares of the company’s stock after acquiring an additional 30,400 shares during the quarter. Spire Wealth Management’s holdings in Philip Morris International were worth $7,021,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in Philip Morris International in the second quarter worth $25,000. Traub Capital Management LLC purchased a new position in shares of Philip Morris International in the 2nd quarter worth $25,000. Abound Wealth Management increased its holdings in shares of Philip Morris International by 566.7% in the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after buying an additional 136 shares during the last quarter. Briaud Financial Planning Inc increased its holdings in shares of Philip Morris International by 266.7% in the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after buying an additional 120 shares during the last quarter. Finally, Estabrook Capital Management purchased a new stake in shares of Philip Morris International during the 2nd quarter valued at about $30,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on PM. The Goldman Sachs Group reiterated a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Wall Street Zen upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, November 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Stifel Nicolaus set a $180.00 price target on Philip Morris International in a research report on Tuesday, October 21st. Finally, Morgan Stanley set a $175.00 price objective on shares of Philip Morris International and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and an average target price of $189.00.

Philip Morris International Stock Performance

Shares of NYSE PM opened at $155.20 on Thursday. Philip Morris International Inc. has a fifty-two week low of $116.12 and a fifty-two week high of $186.69. The company has a market cap of $241.59 billion, a price-to-earnings ratio of 28.12, a PEG ratio of 1.67 and a beta of 0.40. The business’s 50 day moving average price is $155.01 and its 200-day moving average price is $162.47.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data 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 negative return on equity of 122.14% and a net margin of 9.33%. Sell-side analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Friday, December 26th will be issued a $1.47 dividend. The ex-dividend date is Friday, December 26th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.8%. Philip Morris International’s dividend payout ratio is presently 106.52%.

Philip Morris International Company Profile

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.