Gradient Investments LLC Has $467,000 Holdings in Philip Morris International Inc. (NYSE:PM)

Posted by Defense World Staff on Jun 28th, 2023

Gradient Investments LLC trimmed its holdings in Philip Morris International Inc. (NYSE:PM – Get Rating) by 2.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,800 shares of the company’s stock after selling 124 shares during the period. Gradient Investments LLC’s holdings in Philip Morris International were worth $467,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. First National Bank of South Miami grew its position in shares of Philip Morris International by 2.6% in the 1st quarter. First National Bank of South Miami now owns 8,567 shares of the company’s stock valued at $833,000 after purchasing an additional 220 shares during the period. LVM Capital Management Ltd. MI boosted its holdings in shares of Philip Morris International by 20.6% in the first quarter. LVM Capital Management Ltd. MI now owns 24,767 shares of the company’s stock valued at $2,409,000 after buying an additional 4,230 shares during the period. H&H Retirement Design & Management INC bought a new stake in shares of Philip Morris International during the first quarter worth $213,000. Prentice Wealth Management LLC raised its holdings in shares of Philip Morris International by 14.7% during the first quarter. Prentice Wealth Management LLC now owns 2,921 shares of the company’s stock worth $284,000 after acquiring an additional 374 shares during the period. Finally, Asset Management Corp IL ADV lifted its position in Philip Morris International by 17.8% in the 1st quarter. Asset Management Corp IL ADV now owns 8,946 shares of the company’s stock valued at $870,000 after acquiring an additional 1,350 shares in the last quarter. 77.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. upgraded Philip Morris International from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $109.00 to $116.00 in a report on Thursday, March 30th. Citigroup raised Philip Morris International from a “neutral” rating to a “buy” rating and lifted their target price for the company from $109.00 to $117.00 in a research report on Tuesday, June 20th. Stifel Nicolaus started coverage on Philip Morris International in a research report on Thursday, April 13th. They set a “buy” rating and a $114.00 price target for the company. StockNews.com assumed coverage on shares of Philip Morris International in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, UBS Group upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and increased their target price for the stock from $106.00 to $116.00 in a report on Wednesday, March 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.40.

Philip Morris International Stock Down 0.2 %

Shares of NYSE PM opened at $96.56 on Wednesday. Philip Morris International Inc. has a twelve month low of $82.85 and a twelve month high of $105.62. The company has a market cap of $149.88 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 2.46 and a beta of 0.68. The business’s 50 day moving average price is $94.57 and its two-hundred day moving average price is $98.04.

Philip Morris International (NYSE:PM – Get Rating) last announced its quarterly earnings results on Thursday, April 20th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.04. Philip Morris International had a negative return on equity of 128.55% and a net margin of 10.80%. The business had revenue of $8.10 billion during the quarter, compared to the consensus estimate of $8.03 billion. During the same quarter last year, the firm posted $1.56 EPS. The company’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, research analysts anticipate that Philip Morris International Inc. will post 6.18 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 11th. Stockholders of record on Friday, June 23rd will be paid a dividend of $1.27 per share. The ex-dividend date is Thursday, June 22nd. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.26%. Philip Morris International’s dividend payout ratio (DPR) is currently 90.88%.

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.