Wealth Enhancement Advisory Services LLC acquired a new position in shares of Philip Morris International Inc. (NYSE:PM – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 47,782 shares of the company’s stock, valued at approximately $4,647,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Kwmg LLC increased its stake in shares of Philip Morris International by 3.2% in the fourth quarter. Kwmg LLC now owns 3,161 shares of the company’s stock valued at $320,000 after buying an additional 98 shares during the period. Means Investment CO. Inc. increased its stake in shares of Philip Morris International by 0.3% in the fourth quarter. Means Investment CO. Inc. now owns 39,184 shares of the company’s stock valued at $3,966,000 after buying an additional 98 shares during the period. Colonial River Wealth Management LLC increased its stake in shares of Philip Morris International by 0.6% in the fourth quarter. Colonial River Wealth Management LLC now owns 16,381 shares of the company’s stock valued at $1,658,000 after buying an additional 98 shares during the period. Sugarloaf Wealth Management LLC increased its stake in shares of Philip Morris International by 4.0% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 2,600 shares of the company’s stock valued at $263,000 after buying an additional 99 shares during the period. Finally, Horizon Investment Services LLC increased its stake in shares of Philip Morris International by 2.1% in the fourth quarter. Horizon Investment Services LLC now owns 4,871 shares of the company’s stock valued at $493,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 77.43% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have recently weighed in on PM. Stifel Nicolaus started coverage on Philip Morris International in a research note on Thursday, April 13th. They issued a “buy” rating and a $114.00 price target for the company. 22nd Century Group restated a “reiterates” rating on shares of Philip Morris International in a research report on Tuesday, June 27th. StockNews.com started coverage on Philip Morris International in a research report on Thursday, May 18th. They set a “hold” rating on the stock. JPMorgan Chase & Co. upgraded Philip Morris International from a “neutral” rating to an “overweight” rating and upped their target price for the company from $109.00 to $116.00 in a research report on Thursday, March 30th. Finally, Citigroup upgraded Philip Morris International from a “neutral” rating to a “buy” rating and upped their target price for the company from $109.00 to $117.00 in a research report on Tuesday, June 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $111.40.
Philip Morris International Stock Performance
Philip Morris International (NYSE:PM – Free Report) last announced its 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. The company had revenue of $8.10 billion for the quarter, compared to analysts’ expectations of $8.03 billion. Philip Morris International had a negative return on equity of 128.55% and a net margin of 10.80%. Philip Morris International’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.56 earnings per share. Research analysts forecast that Philip Morris International Inc. will post 6.2 EPS for the current year.
Philip Morris International Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 11th. Investors of record on Friday, June 23rd will be given a dividend of $1.27 per share. The ex-dividend date of this dividend is Thursday, June 22nd. This represents a $5.08 annualized dividend and a dividend yield of 5.20%. Philip Morris International’s payout ratio is 90.88%.
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 that are sold in markets outside the United States.
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