Pacific Wealth Strategies Group Inc. Increases Stake in Philip Morris International Inc. (NYSE:PM)

Pacific Wealth Strategies Group Inc. grew its stake in Philip Morris International Inc. (NYSE:PM) by 4.6% in the third quarter, Holdings Channel reports. The fund owned 8,641 shares of the company’s stock after purchasing an additional 379 shares during the period. Pacific Wealth Strategies Group Inc.’s holdings in Philip Morris International were worth $819,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Stock Yards Bank & Trust Co. increased its stake in shares of Philip Morris International by 5.1% in the 3rd quarter. Stock Yards Bank & Trust Co. now owns 29,202 shares of the company’s stock worth $2,768,000 after acquiring an additional 1,405 shares during the last quarter. Newfound Research LLC acquired a new stake in shares of Philip Morris International in the 3rd quarter worth $72,000. Archford Capital Strategies LLC increased its stake in shares of Philip Morris International by 115.5% in the 3rd quarter. Archford Capital Strategies LLC now owns 9,563 shares of the company’s stock worth $906,000 after acquiring an additional 5,126 shares during the last quarter. Procyon Private Wealth Partners LLC increased its stake in shares of Philip Morris International by 1.0% in the 3rd quarter. Procyon Private Wealth Partners LLC now owns 14,556 shares of the company’s stock worth $1,380,000 after acquiring an additional 138 shares during the last quarter. Finally, IAM Advisory LLC acquired a new stake in shares of Philip Morris International in the 3rd quarter worth $344,000. 74.90% of the stock is owned by institutional investors and hedge funds.

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

Shares of NYSE:PM traded up $0.38 during midday trading on Thursday, reaching $90.03. 5,066,513 shares of the company’s stock were exchanged, compared to its average volume of 4,370,159. The firm’s 50 day simple moving average is $96.06 and its two-hundred day simple moving average is $98.38. The stock has a market cap of $140.16 billion, a price-to-earnings ratio of 15.63, a P/E/G ratio of 1.84 and a beta of 0.83. Philip Morris International Inc. has a fifty-two week low of $75.42 and a fifty-two week high of $106.51.

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

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

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.

Recommended Story: Float

Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM).

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

Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.