GeoWealth Management LLC Has $646,000 Stake in Philip Morris International Inc. (NYSE:PM)

GeoWealth Management LLC lifted its position in shares of Philip Morris International Inc. (NYSE:PM) by 584.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,613 shares of the company’s stock after purchasing an additional 5,647 shares during the period. GeoWealth Management LLC’s holdings in Philip Morris International were worth $646,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Morgan Stanley grew its stake in shares of Philip Morris International by 1.0% in the fourth quarter. Morgan Stanley now owns 43,512,330 shares of the company’s stock valued at $4,403,883,000 after acquiring an additional 411,358 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Philip Morris International by 3.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,959,139 shares of the company’s stock worth $3,399,777,000 after acquiring an additional 1,106,408 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Philip Morris International by 5.4% in the 1st quarter. Wellington Management Group LLP now owns 21,448,722 shares of the company’s stock valued at $2,085,888,000 after acquiring an additional 1,099,430 shares during the last quarter. FMR LLC increased its holdings in Philip Morris International by 8.8% in the 1st quarter. FMR LLC now owns 16,211,020 shares of the company’s stock worth $1,576,522,000 after purchasing an additional 1,315,656 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Philip Morris International by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 16,050,540 shares of the company’s stock valued at $1,332,355,000 after acquiring an additional 260,832 shares during the period. 79.70% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Price Performance

Shares of PM stock opened at $92.42 on Tuesday. The business has a 50-day moving average of $92.16 and a 200 day moving average of $94.25. The stock has a market capitalization of $143.47 billion, a PE ratio of 17.95, a P/E/G ratio of 2.16 and a beta of 0.77. Philip Morris International Inc. has a 1-year low of $87.23 and a 1-year high of $105.62.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Thursday, October 19th. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.05. The business had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.21 billion. Philip Morris International had a net margin of 9.62% and a negative return on equity of 129.48%. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.53 EPS. Analysts anticipate that Philip Morris International Inc. will post 6.16 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Wednesday, September 27th were issued a $1.30 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend was Tuesday, September 26th. This represents a $5.20 dividend on an annualized basis and a yield of 5.63%. Philip Morris International’s dividend payout ratio is 100.97%.

Analyst Ratings Changes

Several brokerages have recently commented on PM. StockNews.com assumed coverage on Philip Morris International in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Morgan Stanley cut their target price on Philip Morris International from $118.00 to $113.00 and set an “overweight” rating on the stock in a report on Monday, October 2nd. Redburn Atlantic assumed coverage on shares of Philip Morris International in a research note on Thursday, November 16th. They set a “neutral” rating and a $95.00 price target for the company. Bank of America reduced their price objective on shares of Philip Morris International from $118.00 to $111.00 in a report on Friday, September 29th. Finally, UBS Group cut their price target on Philip Morris International from $116.00 to $112.00 and set a “buy” rating for the company in a research note on Thursday, October 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $109.36.

About Philip Morris International

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.