Pacific Wealth Strategies Group Inc. Raises Stake in Philip Morris International Inc. (NYSE:PM)

Pacific Wealth Strategies Group Inc. grew its stake in shares of Philip Morris International Inc. (NYSE:PM) by 4.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,641 shares of the company’s stock after purchasing an additional 379 shares during the quarter. Pacific Wealth Strategies Group Inc.’s holdings in Philip Morris International were worth $819,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Stock Yards Bank & Trust Co. boosted its stake in shares of Philip Morris International by 5.1% during the third quarter. Stock Yards Bank & Trust Co. now owns 29,202 shares of the company’s stock valued at $2,768,000 after purchasing an additional 1,405 shares during the period. Newfound Research LLC purchased a new stake in Philip Morris International in the third quarter worth about $72,000. Archford Capital Strategies LLC lifted its stake in Philip Morris International by 115.5% in the third quarter. Archford Capital Strategies LLC now owns 9,563 shares of the company’s stock worth $906,000 after acquiring an additional 5,126 shares during the period. Procyon Private Wealth Partners LLC lifted its stake in Philip Morris International by 1.0% in the third quarter. Procyon Private Wealth Partners LLC now owns 14,556 shares of the company’s stock worth $1,380,000 after acquiring an additional 138 shares during the period. Finally, IAM Advisory LLC purchased a new stake in Philip Morris International in the third quarter worth about $344,000. 74.90% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International stock traded up $0.38 during trading hours on Thursday, reaching $90.03. The stock had a trading volume of 5,066,513 shares, compared to its average volume of 4,370,159. Philip Morris International Inc. has a 52 week low of $75.42 and a 52 week high of $106.51. The company has a market cap of $140.16 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 1.84 and a beta of 0.83. The business’s 50 day moving average price is $96.06 and its 200-day moving average price is $98.38.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Monday, October 18th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.55 by $0.03. Philip Morris International had a net margin of 11.11% and a negative return on equity of 98.17%. The firm had revenue of $8.12 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter in the prior year, the company posted $1.42 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities analysts anticipate that Philip Morris International Inc. will post 6.07 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 14th. Stockholders of record on Wednesday, September 29th were issued a dividend of $1.25 per share. The ex-dividend date was Tuesday, September 28th. This represents a $5.00 annualized dividend and a dividend yield of 5.55%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.20. Philip Morris International’s dividend payout ratio is 86.81%.

Separately, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Philip Morris International from $114.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, August 19th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $104.86.

Philip Morris International Company Profile

Philip Morris International, Inc is a holding company. It engages in manufacturing and sale of cigarettes, tobacco and nicotine-containing products. It operates through the following geographical segments: European Union, Eastern Europe, Middles East & Africa, South & Southeast Asia, East Asia & Australia and Latin America & Canada.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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