Procyon Private Wealth Partners LLC Raises Holdings in Philip Morris International Inc. (NYSE:PM)

Procyon Private Wealth Partners LLC grew its position in Philip Morris International Inc. (NYSE:PM) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,556 shares of the company’s stock after buying an additional 138 shares during the quarter. Procyon Private Wealth Partners LLC’s holdings in Philip Morris International were worth $1,380,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PM. Hoylecohen LLC lifted its holdings in shares of Philip Morris International by 13.4% in the 1st quarter. Hoylecohen LLC now owns 5,700 shares of the company’s stock worth $506,000 after buying an additional 672 shares during the period. Verition Fund Management LLC purchased a new stake in shares of Philip Morris International during the 1st quarter worth $258,000. D. E. Shaw & Co. Inc. lifted its stake in shares of Philip Morris International by 889.9% during the 1st quarter. D. E. Shaw & Co. Inc. now owns 7,622 shares of the company’s stock worth $676,000 after purchasing an additional 6,852 shares during the last quarter. Gladstone Institutional Advisory LLC purchased a new stake in shares of Philip Morris International during the 1st quarter worth $325,000. Finally, Axiom Investment Management LLC purchased a new stake in shares of Philip Morris International during the 1st quarter worth $126,000. Institutional investors and hedge funds own 74.90% of the company’s stock.

Philip Morris International stock opened at $90.03 on Thursday. The stock has a 50-day moving average of $96.06 and a two-hundred day moving average of $98.38. Philip Morris International Inc. has a one year low of $75.42 and a one year high of $106.51. The stock has a market cap of $140.16 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 1.84 and a beta of 0.83.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Monday, October 18th. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.03. Philip Morris International had a negative return on equity of 98.17% and a net margin of 11.11%. The company had revenue of $8.12 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same period last year, the business posted $1.42 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. Equities research analysts predict that Philip Morris International Inc. will post 6.07 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 14th. Stockholders of record on Wednesday, September 29th were issued a $1.25 dividend. The ex-dividend date of this dividend was Tuesday, September 28th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a dividend yield of 5.55%. Philip Morris International’s dividend payout ratio is currently 86.81%.

Separately, Deutsche Bank Aktiengesellschaft upped their price objective on Philip Morris International from $114.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, August 19th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $104.86.

Philip Morris International Profile

Philip Morris International, Inc is a holding company. It engages in manufacturing and sale of cigarettes, tobacco and nicotine-containing products. It operates through the following geographical segments: European Union, Eastern Europe, Middles East & Africa, South & Southeast Asia, East Asia & Australia and Latin America & Canada.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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