EP Wealth Advisors LLC purchased a new position in shares of Philip Morris International Inc. (NYSE:PM – Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 11,628 shares of the company’s stock, valued at approximately $98,000.
Other hedge funds have also modified their holdings of the company. Optiver Holding B.V. purchased a new position in shares of Philip Morris International during the 4th quarter worth $29,000. Stone House Investment Management LLC acquired a new position in Philip Morris International during the 1st quarter worth about $29,000. BOK Financial Private Wealth Inc. acquired a new position in Philip Morris International during the 1st quarter worth about $32,000. Barrett & Company Inc. acquired a new position in Philip Morris International during the 1st quarter worth about $32,000. Finally, FSC Wealth Advisors LLC lifted its stake in Philip Morris International by 75.0% during the 1st quarter. FSC Wealth Advisors LLC now owns 350 shares of the company’s stock worth $34,000 after acquiring an additional 150 shares in the last quarter. 79.70% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on PM shares. 22nd Century Group reissued a “reiterates” rating on shares of Philip Morris International in a research note on Tuesday, June 27th. Jefferies Financial Group decreased their target price on Philip Morris International from $113.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday, August 22nd. Citigroup raised Philip Morris International from a “neutral” rating to a “buy” rating and increased their target price for the stock from $109.00 to $117.00 in a research note on Tuesday, June 20th. Finally, StockNews.com started coverage on Philip Morris International in a research note on Thursday, August 17th. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $110.70.
Philip Morris International Price Performance
PM stock opened at $97.32 on Wednesday. The firm has a market capitalization of $151.07 billion, a P/E ratio of 18.82, a P/E/G ratio of 2.01 and a beta of 0.71. The business’s 50-day moving average is $96.44 and its two-hundred day moving average is $96.02. Philip Morris International Inc. has a 1 year low of $82.85 and a 1 year high of $105.62.
Philip Morris International (NYSE:PM – Get Free Report) last released its quarterly earnings data on Thursday, July 20th. The company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.10. Philip Morris International had a negative return on equity of 127.84% and a net margin of 11.63%. The business had revenue of $8.97 billion for the quarter, compared to the consensus estimate of $8.76 billion. During the same quarter in the prior year, the business posted $1.48 EPS. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, analysts expect that Philip Morris International Inc. will post 6.19 EPS for the current year.
Philip Morris International Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Wednesday, September 27th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, September 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.34%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.27. Philip Morris International’s dividend payout ratio is presently 98.26%.
About Philip Morris International
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.
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