Beese Fulmer Investment Management Inc. Acquires 400 Shares of Philip Morris International Inc. (NYSE:PM)

Beese Fulmer Investment Management Inc. increased its holdings in Philip Morris International Inc. (NYSE:PM) by 0.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,690 shares of the company’s stock after buying an additional 400 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Philip Morris International were worth $8,463,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of PM. Clear Harbor Asset Management LLC grew its holdings in Philip Morris International by 59.0% in the first quarter. Clear Harbor Asset Management LLC now owns 4,214 shares of the company’s stock worth $410,000 after purchasing an additional 1,563 shares during the last quarter. Cypress Wealth Services LLC grew its holdings in Philip Morris International by 6.3% in the first quarter. Cypress Wealth Services LLC now owns 4,514 shares of the company’s stock worth $439,000 after purchasing an additional 267 shares during the last quarter. Vise Technologies Inc. grew its holdings in Philip Morris International by 11.9% in the first quarter. Vise Technologies Inc. now owns 8,127 shares of the company’s stock worth $790,000 after purchasing an additional 866 shares during the last quarter. Bison Wealth LLC grew its holdings in Philip Morris International by 8.9% in the first quarter. Bison Wealth LLC now owns 5,537 shares of the company’s stock worth $526,000 after purchasing an additional 453 shares during the last quarter. Finally, Main Street Financial Solutions LLC grew its holdings in Philip Morris International by 19.9% in the first quarter. Main Street Financial Solutions LLC now owns 5,544 shares of the company’s stock worth $539,000 after purchasing an additional 921 shares during the last quarter. Institutional investors own 79.70% of the company’s stock.

Philip Morris International Price Performance

NYSE:PM traded down $0.52 during mid-day trading on Friday, hitting $95.79. The company’s stock had a trading volume of 6,932,697 shares, compared to its average volume of 3,027,615. Philip Morris International Inc. has a 1 year low of $82.85 and a 1 year high of $105.62. The stock has a market cap of $148.70 billion, a price-to-earnings ratio of 18.53, a PEG ratio of 2.02 and a beta of 0.71. The business’s fifty day moving average is $96.49 and its two-hundred day moving average is $96.06.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, July 20th. The company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.50 by $0.10. Philip Morris International had a net margin of 11.63% and a negative return on equity of 127.84%. The company had revenue of $8.97 billion for the quarter, compared to analyst estimates of $8.76 billion. During the same period in the prior year, the company earned $1.48 earnings per share. The firm’s revenue was up 14.5% on a year-over-year basis. Analysts anticipate that Philip Morris International Inc. will post 6.19 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Wednesday, September 27th will be paid a dividend of $1.30 per share. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.27. This represents a $5.20 annualized dividend and a dividend yield of 5.43%. The ex-dividend date of this dividend is Tuesday, September 26th. Philip Morris International’s dividend payout ratio is presently 98.26%.

Analyst Upgrades and Downgrades

PM has been the topic of several analyst reports. 22nd Century Group reaffirmed a “reiterates” rating on shares of Philip Morris International in a report on Tuesday, June 27th. Jefferies Financial Group dropped their price objective on shares of Philip Morris International from $113.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, August 22nd. Citigroup raised shares of Philip Morris International from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $109.00 to $117.00 in a report on Tuesday, June 20th. Finally, StockNews.com started coverage on shares of Philip Morris International in a report on Thursday, August 17th. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and a consensus target price of $110.70.

Philip Morris International Profile

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 primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.