Klein Pavlis & Peasley Financial Inc. Buys 23,134 Shares of Philip Morris International Inc. $PM

Klein Pavlis & Peasley Financial Inc. lifted its position in Philip Morris International Inc. (NYSE:PM) by 151.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 38,362 shares of the company’s stock after purchasing an additional 23,134 shares during the period. Philip Morris International makes up about 3.8% of Klein Pavlis & Peasley Financial Inc.’s holdings, making the stock its 5th largest holding. Klein Pavlis & Peasley Financial Inc.’s holdings in Philip Morris International were worth $6,222,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. PFS Partners LLC lifted its position in Philip Morris International by 24.8% during the 2nd quarter. PFS Partners LLC now owns 292 shares of the company’s stock worth $53,000 after acquiring an additional 58 shares during the last quarter. Uncommon Cents Investing LLC lifted its position in shares of Philip Morris International by 1.1% during the 2nd quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company’s stock worth $1,032,000 after purchasing an additional 61 shares during the last quarter. Second Line Capital LLC boosted its stake in Philip Morris International by 4.8% during the 2nd quarter. Second Line Capital LLC now owns 1,338 shares of the company’s stock valued at $245,000 after purchasing an additional 61 shares during the period. Cranbrook Wealth Management LLC grew its holdings in Philip Morris International by 6.5% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 1,014 shares of the company’s stock valued at $185,000 after buying an additional 62 shares during the last quarter. Finally, Meridian Wealth Partners LLC increased its position in Philip Morris International by 3.1% in the 2nd quarter. Meridian Wealth Partners LLC now owns 2,060 shares of the company’s stock worth $375,000 after buying an additional 62 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PM. Barclays reduced their price objective on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a research report on Monday, November 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. JPMorgan Chase & Co. reduced 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 note on Wednesday, November 26th. Finally, Morgan Stanley set a $175.00 price target on Philip Morris International and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $189.00.

Philip Morris International Price Performance

PM opened at $173.66 on Friday. The company has a market capitalization of $270.33 billion, a P/E ratio of 31.46, a P/E/G ratio of 1.86 and a beta of 0.40. The firm’s fifty day moving average price is $157.72 and its two-hundred day moving average price is $161.87. Philip Morris International Inc. has a fifty-two week low of $119.30 and a fifty-two week high of $186.69.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Friday, October 24th. The company reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.14. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. The company had revenue of $10.85 billion during the quarter, compared to analysts’ expectations of $10.67 billion. During the same quarter in the prior year, the company posted $1.91 EPS. The business’s revenue was up 9.4% on a year-over-year basis. On average, equities research analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Friday, December 26th were paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Friday, December 26th. Philip Morris International’s dividend payout ratio is currently 106.52%.

Philip Morris International Company 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.