Exchange Traded Concepts LLC increased its stake in Philip Morris International Inc. (NYSE:PM – Get Rating) by 1.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 171,328 shares of the company's stock after acquiring an additional 2,447 shares during the period. Philip Morris International comprises 0.5% of Exchange Traded Concepts LLC's investment portfolio, making the stock its 27th biggest position. Exchange Traded Concepts LLC's holdings in Philip Morris International were worth $16,917,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Peterson Financial Group Inc. raised its position in shares of Philip Morris International by 5.7% during the 2nd quarter. Peterson Financial Group Inc. now owns 13,992 shares of the company's stock valued at $1,381,000 after acquiring an additional 751 shares during the last quarter. Center For Asset Management LLC acquired a new position in shares of Philip Morris International in the 2nd quarter valued at $760,000. Cornerstone Wealth Group LLC grew its holdings in shares of Philip Morris International by 6.9% in the 2nd quarter. Cornerstone Wealth Group LLC now owns 5,660 shares of the company's stock valued at $559,000 after buying an additional 365 shares during the period. Toews Corp ADV boosted its stake in Philip Morris International by 190.7% in the 2nd quarter. Toews Corp ADV now owns 12,500 shares of the company's stock worth $1,234,000 after purchasing an additional 8,200 shares during the period. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in Philip Morris International by 50.0% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 9,842 shares of the company's stock worth $972,000 after purchasing an additional 3,282 shares during the period. Institutional investors own 76.00% of the company's stock.
Get Philip Morris International alerts:Analysts Set New Price Targets
A number of equities analysts recently weighed in on PM shares. StockNews.com raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Tuesday, July 26th. Credit Suisse Group restated a "neutral" rating and set a $107.00 price objective on shares of Philip Morris International in a research note on Wednesday. Finally, Jefferies Financial Group reduced their price objective on shares of Philip Morris International from $107.00 to $99.00 in a research note on Tuesday, July 19th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Philip Morris International has a consensus rating of "Moderate Buy" and a consensus price target of $108.89.
Philip Morris International Stock Down 1.6 %
Shares of PM traded down $1.43 during mid-day trading on Thursday, hitting $85.92. 55,988 shares of the company's stock were exchanged, compared to its average volume of 4,230,696. Philip Morris International Inc. has a 52 week low of $85.64 and a 52 week high of $112.48. The stock's 50-day simple moving average is $96.38 and its 200-day simple moving average is $98.28. The firm has a market cap of $133.19 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 3.43 and a beta of 0.62.Philip Morris International (NYSE:PM – Get Rating) last posted its quarterly earnings results on Thursday, July 21st. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.24. Philip Morris International had a net margin of 11.05% and a negative return on equity of 115.36%. The business had revenue of $7.83 billion for the quarter, compared to analyst estimates of $6.76 billion. During the same quarter last year, the business posted $1.57 EPS. The firm's revenue for the quarter was down .1% on a year-over-year basis. Analysts forecast that Philip Morris International Inc. will post 5.84 earnings per share for the current fiscal year.
Philip Morris International Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 12th. Stockholders of record on Wednesday, September 28th will be paid a dividend of $1.27 per share. The ex-dividend date is Tuesday, September 27th. This represents a $5.08 annualized dividend and a dividend yield of 5.91%. This is an increase from Philip Morris International's previous quarterly dividend of $1.25. Philip Morris International's dividend payout ratio (DPR) is presently 87.29%.
Philip Morris International Profile
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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 that are sold in markets outside the United States.
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