Thrive Wealth Management LLC Increases Stake in Philip Morris International Inc. (NYSE:PM)

Thrive Wealth Management LLC increased its stake in Philip Morris International Inc. (NYSE:PM) by 7.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,776 shares of the company’s stock after purchasing an additional 571 shares during the quarter. Thrive Wealth Management LLC’s holdings in Philip Morris International were worth $759,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Optiver Holding B.V. acquired a new stake in shares of Philip Morris International in the fourth quarter worth approximately $29,000. Stone House Investment Management LLC acquired a new stake in shares of Philip Morris International in the first quarter worth approximately $29,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of Philip Morris International in the first quarter worth approximately $32,000. Barrett & Company Inc. acquired a new stake in shares of Philip Morris International in the first quarter worth approximately $32,000. Finally, FSC Wealth Advisors LLC boosted its position in shares of Philip Morris International by 75.0% in the first quarter. FSC Wealth Advisors LLC now owns 350 shares of the company’s stock worth $34,000 after acquiring an additional 150 shares during the last quarter. 79.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Jefferies Financial Group cut their price target 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 lifted their price target for the company from $109.00 to $117.00 in a research report on Tuesday, June 20th. 22nd Century Group reaffirmed a “reiterates” rating on shares of Philip Morris International in a research report on Tuesday, June 27th. Finally, StockNews.com initiated coverage on shares of Philip Morris International in a research report on Thursday, August 17th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average price target of $110.70.

Philip Morris International Stock Up 0.3 %

Shares of NYSE PM traded up $0.30 during trading on Monday, reaching $96.09. 356,761 shares of the stock were exchanged, compared to its average volume of 4,196,130. The business’s 50-day moving average price is $96.49 and its 200 day moving average price is $96.05. Philip Morris International Inc. has a twelve month low of $82.85 and a twelve month high of $105.62. The company has a market capitalization of $149.16 billion, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 2.02 and a beta of 0.71.

Philip Morris International (NYSE:PM) last posted its earnings results on Thursday, July 20th. The company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $8.97 billion for the quarter, compared to analysts’ expectations of $8.76 billion. During the same period in the previous year, the company posted $1.48 earnings per share. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, sell-side analysts expect that Philip Morris International Inc. will post 6.19 earnings per share 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 given a dividend of $1.30 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.27. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date of this dividend is Tuesday, September 26th. Philip Morris International’s payout ratio is presently 98.26%.

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.