Sigma Investment Counselors Inc. Increases Stake in Philip Morris International Inc. (NYSE:PM)

Sigma Investment Counselors Inc. grew its position in shares of Philip Morris International Inc. (NYSE:PMGet Rating) by 45.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,388 shares of the company’s stock after buying an additional 1,059 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in Philip Morris International were worth $335,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Joel Isaacson & Co. LLC grew its stake in shares of Philip Morris International by 11.4% during the 2nd quarter. Joel Isaacson & Co. LLC now owns 7,541 shares of the company’s stock worth $745,000 after purchasing an additional 774 shares during the period. Westshore Wealth LLC boosted its stake in shares of Philip Morris International by 56.8% during the 2nd quarter. Westshore Wealth LLC now owns 7,192 shares of the company’s stock worth $710,000 after purchasing an additional 2,604 shares during the last quarter. HB Wealth Management LLC boosted its stake in shares of Philip Morris International by 51.3% during the 2nd quarter. HB Wealth Management LLC now owns 24,358 shares of the company’s stock worth $2,405,000 after purchasing an additional 8,258 shares during the last quarter. Ritholtz Wealth Management boosted its stake in shares of Philip Morris International by 36.8% during the 2nd quarter. Ritholtz Wealth Management now owns 19,880 shares of the company’s stock worth $1,963,000 after purchasing an additional 5,352 shares during the last quarter. Finally, Gilman Hill Asset Management LLC boosted its stake in shares of Philip Morris International by 129.0% during the 2nd quarter. Gilman Hill Asset Management LLC now owns 7,740 shares of the company’s stock worth $764,000 after purchasing an additional 4,360 shares during the last quarter. Hedge funds and other institutional investors own 76.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on PM. Jefferies Financial Group decreased their price target on shares of Philip Morris International from $107.00 to $99.00 in a research note on Tuesday, July 19th. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Tuesday, July 26th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and a consensus price target of $109.13.

Philip Morris International Stock Performance

Shares of PM stock traded down $4.04 during mid-day trading on Friday, reaching $91.75. 98,798 shares of the company were exchanged, compared to its average volume of 3,687,014. Philip Morris International Inc. has a fifty-two week low of $85.64 and a fifty-two week high of $112.48. The company has a market capitalization of $142.23 billion, a P/E ratio of 16.08, a P/E/G ratio of 3.72 and a beta of 0.62. The business’s 50 day simple moving average is $96.48 and its 200 day simple moving average is $98.36.

Philip Morris International (NYSE:PMGet Rating) last released its quarterly earnings results on Thursday, July 21st. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.24. Philip Morris International had a net margin of 11.05% and a negative return on equity of 115.36%. The business had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $6.76 billion. During the same quarter last year, the company earned $1.57 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. On average, analysts forecast that Philip Morris International Inc. will post 5.99 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 12th. Shareholders of record on Wednesday, September 28th will be issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date of this dividend is Tuesday, September 27th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.25. Philip Morris International’s payout ratio is currently 85.91%.

About Philip Morris International

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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 that are sold in markets outside the United States.

Further Reading

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

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