Secure Asset Management LLC Purchases 1,279 Shares of Philip Morris International Inc. (NYSE:PM)

Secure Asset Management LLC grew its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 8.3% in the 4th quarter, Holdings Channel reports. The fund owned 16,692 shares of the company’s stock after buying an additional 1,279 shares during the period. Secure Asset Management LLC’s holdings in Philip Morris International were worth $2,009,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Valley Wealth Managers Inc. lifted its holdings in shares of Philip Morris International by 457.5% in the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after purchasing an additional 183 shares in the last quarter. Dunhill Financial LLC lifted its position in shares of Philip Morris International by 203.8% during the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock valued at $29,000 after buying an additional 161 shares during the last quarter. Concord Wealth Partners increased its stake in shares of Philip Morris International by 2,709.1% in the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock worth $38,000 after purchasing an additional 298 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in Philip Morris International in the 3rd quarter valued at approximately $54,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Philip Morris International during the 4th quarter valued at $54,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PM. Citigroup upped their target price on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised their price objective on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Stifel Nicolaus reiterated a “buy” rating and set a $145.00 price target (up from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Barclays dropped their price objective on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.35.

Philip Morris International Stock Performance

Philip Morris International stock opened at $125.36 on Friday. The company has a 50 day moving average price of $125.38 and a 200-day moving average price of $121.77. The company has a market capitalization of $194.92 billion, a PE ratio of 19.90, a P/E/G ratio of 2.03 and a beta of 0.54. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $134.15.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.09. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The company had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. During the same quarter in the previous year, the firm earned $1.67 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, analysts forecast that Philip Morris International Inc. will post 6.5 earnings per share for the current year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, December 26th were paid a $1.35 dividend. The ex-dividend date was Thursday, December 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.31%. Philip Morris International’s dividend payout ratio (DPR) is 85.71%.

Philip Morris International Company 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.