Beacon Harbor Wealth Advisors Inc. Grows Holdings in Philip Morris International Inc. $PM

Beacon Harbor Wealth Advisors Inc. grew its position in Philip Morris International Inc. (NYSE:PM) by 66.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,425 shares of the company’s stock after purchasing an additional 15,348 shares during the quarter. Beacon Harbor Wealth Advisors Inc.’s holdings in Philip Morris International were worth $6,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of PM. Vanguard Group Inc. raised its holdings in Philip Morris International by 1.6% during the second quarter. Vanguard Group Inc. now owns 142,857,055 shares of the company’s stock valued at $26,018,555,000 after acquiring an additional 2,235,380 shares during the period. State Street Corp boosted its stake in Philip Morris International by 1.6% in the 2nd quarter. State Street Corp now owns 55,831,655 shares of the company’s stock worth $10,243,429,000 after purchasing an additional 871,165 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Philip Morris International by 1.8% in the second quarter. Geode Capital Management LLC now owns 37,181,107 shares of the company’s stock worth $6,760,346,000 after buying an additional 672,983 shares in the last quarter. WCM Investment Management LLC grew its stake in Philip Morris International by 24,968.0% during the second quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock valued at $2,041,223,000 after acquiring an additional 11,230,626 shares in the last quarter. Finally, Fayez Sarofim & Co increased its holdings in shares of Philip Morris International by 7.9% in the second quarter. Fayez Sarofim & Co now owns 10,676,908 shares of the company’s stock worth $1,944,585,000 after purchasing an additional 782,536 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Barclays reduced their price objective on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a research note on Monday, November 17th. Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research note on Thursday, January 22nd. Morgan Stanley set a $175.00 target price on Philip Morris International and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Finally, Jefferies Financial Group lowered Philip Morris International from a “buy” rating to a “hold” rating and decreased their price target for the stock from $220.00 to $180.00 in a research note on Tuesday, January 20th. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $184.56.

Philip Morris International Stock Up 1.8%

PM opened at $180.22 on Thursday. The stock’s fifty day moving average is $162.98 and its two-hundred day moving average is $161.39. The company has a market capitalization of $280.54 billion, a P/E ratio of 32.65, a PEG ratio of 1.91 and a beta of 0.39. Philip Morris International Inc. has a 52 week low of $130.31 and a 52 week high of $186.69.

Philip Morris International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Friday, December 26th were issued a $1.47 dividend. The ex-dividend date was Friday, December 26th. This represents a $5.88 annualized dividend and a dividend yield of 3.3%. Philip Morris International’s 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.