Kingsview Wealth Management LLC Buys 18,257 Shares of Philip Morris International Inc. (NYSE:PM)

Kingsview Wealth Management LLC lifted its stake in Philip Morris International Inc. (NYSE:PM) by 97.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,065 shares of the company’s stock after purchasing an additional 18,257 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Philip Morris International were worth $4,461,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. raised its holdings in Philip Morris International by 457.5% in the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after acquiring an additional 183 shares during the last quarter. Dunhill Financial LLC raised its holdings in Philip Morris International by 203.8% in the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock worth $29,000 after acquiring an additional 161 shares during the last quarter. Concord Wealth Partners raised its stake in Philip Morris International by 2,709.1% during the 3rd quarter. Concord Wealth Partners now owns 309 shares of the company’s stock valued at $38,000 after buying an additional 298 shares during the last quarter. Asset Dedication LLC raised its stake in Philip Morris International by 55.5% during the 4th quarter. Asset Dedication LLC now owns 412 shares of the company’s stock valued at $50,000 after buying an additional 147 shares during the last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in Philip Morris International during the 3rd quarter valued at $54,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PM shares. UBS Group boosted their target price on shares of Philip Morris International from $105.00 to $120.00 and gave the company a “sell” rating in a research note on Friday. Morgan Stanley started coverage on shares of Philip Morris International in a research note on Thursday, January 16th. They set an “overweight” rating and a $140.00 target price for the company. Barclays decreased their target price on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Stifel Nicolaus upped their price objective on Philip Morris International from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday. Finally, JPMorgan Chase & Co. upped their price objective on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and an average target price of $134.35.

Philip Morris International Stock Down 0.6 %

PM opened at $144.40 on Friday. The firm has a 50-day simple moving average of $125.66 and a two-hundred day simple moving average of $123.87. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $146.78. The company has a market capitalization of $224.51 billion, a PE ratio of 32.02, a price-to-earnings-growth ratio of 2.55 and a beta of 0.55.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.06. Philip Morris International had a net margin of 9.24% and a negative return on equity of 120.08%. As a group, sell-side analysts expect that Philip Morris International Inc. will post 7.11 earnings per share for the current year.

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, December 26th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is presently 119.73%.

Philip Morris International Profile

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 primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.