Philip Morris International Inc. $PM Stock Purchased by Keybank National Association OH

Keybank National Association OH increased its stake in Philip Morris International Inc. (NYSE:PM) by 5.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 367,303 shares of the company’s stock after buying an additional 20,050 shares during the period. Keybank National Association OH’s holdings in Philip Morris International were worth $70,089,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cornerstone Wealth Management LLC boosted its stake in Philip Morris International by 6.5% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 16,173 shares of the company’s stock worth $3,086,000 after purchasing an additional 981 shares in the last quarter. Csenge Advisory Group grew its position in Philip Morris International by 4.7% during the 3rd quarter. Csenge Advisory Group now owns 45,937 shares of the company’s stock valued at $8,766,000 after purchasing an additional 2,045 shares during the last quarter. D Orazio & Associates Inc. increased its stake in Philip Morris International by 2.2% during the 3rd quarter. D Orazio & Associates Inc. now owns 9,513 shares of the company’s stock valued at $1,815,000 after purchasing an additional 202 shares in the last quarter. Kinsale Capital Group Inc. increased its stake in Philip Morris International by 14.0% during the 3rd quarter. Kinsale Capital Group Inc. now owns 120,097 shares of the company’s stock valued at $22,917,000 after purchasing an additional 14,792 shares in the last quarter. Finally, 71 West Capital Partners increased its stake in Philip Morris International by 4.2% during the 3rd quarter. 71 West Capital Partners now owns 9,586 shares of the company’s stock valued at $1,829,000 after purchasing an additional 389 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PM shares. Citigroup lifted their target price on shares of Philip Morris International from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Weiss Ratings upgraded shares of Philip Morris International from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, November 4th. UBS Group raised their price target on shares of Philip Morris International from $193.00 to $201.00 and gave the company a “neutral” rating in a research report on Thursday, October 22nd. Argus raised their price target on shares of Philip Morris International from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, October 26th. Finally, Needham & Company LLC boosted their price objective on shares of Philip Morris International from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $213.90.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $194.31 on Wednesday. The company has a market cap of $302.86 billion, a P/E ratio of 28.37, a PEG ratio of 2.59 and a beta of 0.34. Philip Morris International Inc. has a 1 year low of $146.35 and a 1 year high of $214.35. The stock’s fifty day moving average price is $195.73 and its 200-day moving average price is $183.05.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Wednesday, October 21st. The company reported $2.36 EPS for the quarter, beating the consensus estimate of $2.30 by $0.06. Philip Morris International had a negative return on equity of 183.96% and a net margin of 10.73%. The company had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $11.32 billion. During the same period last year, the firm posted $2.24 earnings per share. Philip Morris International’s revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Philip Morris International Inc. will post 8.32 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 26th. Shareholders of record on Friday, October 2nd were paid a dividend of $1.60 per share. The ex-dividend date was Friday, October 2nd. This represents a $6.40 annualized dividend and a yield of 3.3%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.47. Philip Morris International’s dividend payout ratio (DPR) is currently 93.43%.

Philip Morris International Company Profile

Philip Morris International is a global tobacco and nicotine company that develops, manufactures and sells cigarettes and smoke-free products. Its cigarette brands include Marlboro in markets outside the United States, along with other regional and international brands. The company’s smoke-free portfolio includes IQOS heated tobacco products, ZYN nicotine pouches and VEEV e-vapor products. Philip Morris International sells its products in markets around the world, with availability varying by country and subject to local regulations.