Philip Morris International Inc. $PM Shares Bought by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC lifted its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 7,843.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 25,340 shares of the company’s stock after purchasing an additional 25,021 shares during the period. Provenance Wealth Advisors LLC’s holdings in Philip Morris International were worth $4,835,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd bought a new position in shares of Philip Morris International in the second quarter valued at about $29,000. Cedar Mountain Advisors LLC grew its holdings in Philip Morris International by 60.2% during the 1st quarter. Cedar Mountain Advisors LLC now owns 189 shares of the company’s stock worth $31,000 after acquiring an additional 71 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new stake in Philip Morris International during the 2nd quarter worth about $34,000. Kilter Group LLC bought a new stake in Philip Morris International during the 2nd quarter worth about $35,000. Finally, Wilkerson Advisory Group LLC increased its position in Philip Morris International by 109.2% in the 1st quarter. Wilkerson Advisory Group LLC now owns 205 shares of the company’s stock valued at $34,000 after acquiring an additional 107 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Performance

PM opened at $207.48 on Wednesday. The company has a fifty day moving average price of $194.93 and a two-hundred day moving average price of $182.33. Philip Morris International Inc. has a 52 week low of $144.22 and a 52 week high of $214.35. The firm has a market capitalization of $323.40 billion, a PE ratio of 30.29, a P/E/G ratio of 2.79 and a beta of 0.34.

Philip Morris International (NYSE:PM) last issued its earnings results on Wednesday, October 21st. The company reported $2.36 EPS for the quarter, beating the consensus estimate of $2.30 by $0.06. The company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $11.32 billion. Philip Morris International had a net margin of 10.73% and a negative return on equity of 183.96%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.24 EPS. Equities analysts forecast that Philip Morris International Inc. will post 8.32 EPS for the current 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 issued a $1.60 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.47. This represents a $6.40 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Friday, October 2nd. Philip Morris International’s dividend payout ratio is currently 93.43%.

Wall Street Analyst Weigh In

PM has been the subject of a number of research analyst reports. UBS Group boosted their target price on shares of Philip Morris International from $193.00 to $201.00 and gave the stock a “neutral” rating in a research note on Thursday, October 22nd. Barclays upped their target price on shares of Philip Morris International from $205.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Citigroup increased their price target on shares of Philip Morris International from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Argus raised their price target on shares of Philip Morris International from $210.00 to $220.00 and gave the company a “buy” rating in a report on Monday, October 26th. Finally, Morgan Stanley boosted their price objective on shares of Philip Morris International from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.40.

Philip Morris International Company Profile

Philip Morris International Inc (NYSE:PM) is a global tobacco and nicotine company headquartered in Stamford, Connecticut. It was established as an independent company in 2008 following the separation of Philip Morris International from Altria Group. The company develops, manufactures and markets tobacco, nicotine and other related consumer products primarily outside the United States.

Its portfolio includes internationally recognized cigarette brands such as Marlboro, Parliament, L&M, Chesterfield and Bond Street.