Elite Wealth Management Inc. Takes Position in Philip Morris International Inc. $PM

Elite Wealth Management Inc. purchased a new position in shares of Philip Morris International Inc. (NYSE:PM) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 26,404 shares of the company’s stock, valued at approximately $4,283,000. Philip Morris International accounts for 1.1% of Elite Wealth Management Inc.’s holdings, making the stock its 17th biggest position.

A number of other hedge funds have also modified their holdings of PM. Corient Private Wealth LLC grew its position in shares of Philip Morris International by 1.2% in the second quarter. Corient Private Wealth LLC now owns 490,590 shares of the company’s stock valued at $89,354,000 after purchasing an additional 5,681 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in Philip Morris International by 295.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 67,717 shares of the company’s stock valued at $12,333,000 after acquiring an additional 50,610 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Philip Morris International by 88.9% in the 2nd quarter. Prudential Financial Inc. now owns 2,138,118 shares of the company’s stock worth $389,415,000 after acquiring an additional 1,006,014 shares during the period. Trek Financial LLC grew its holdings in shares of Philip Morris International by 732.3% during the 2nd quarter. Trek Financial LLC now owns 42,829 shares of the company’s stock worth $7,801,000 after purchasing an additional 37,683 shares in the last quarter. Finally, Railway Pension Investments Ltd raised its stake in shares of Philip Morris International by 2.9% in the third quarter. Railway Pension Investments Ltd now owns 514,040 shares of the company’s stock valued at $83,377,000 after purchasing an additional 14,600 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Stock Up 2.4%

PM stock opened at $162.61 on Monday. The business has a fifty day moving average of $155.63 and a 200-day moving average of $162.01. The company has a market cap of $253.13 billion, a P/E ratio of 29.46, a PEG ratio of 1.75 and a beta of 0.40. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. The company had revenue of $8.12 billion for the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. As a group, equities research analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Friday, December 26th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is currently 106.52%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. JPMorgan Chase & Co. dropped their target price on shares of Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. Stifel Nicolaus set a $180.00 price objective on shares of Philip Morris International in a research note on Tuesday, October 21st. Barclays reduced their target price on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday, November 17th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $189.00.

Philip Morris International Profile

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.