PM is a cash cow. It's trading as if nations all over the world will be raising taxes on cigarettes as they have here in the US.
I take the guess work out of when to buy more shares by selling puts. If you like the stock at 34 then sell the 35 puts. If they put you the stock your option adjusted cost will be under 35. If they don't put you the stock you could use the premiums to support your cigar habit as I do.