Firestone Capital Management Invests $231,000 in Philip Morris International Inc. (NYSE:PM)

Firestone Capital Management acquired a new stake in Philip Morris International Inc. (NYSE:PM - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,457 shares of the company's stock, valued at approximately $231,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Philip Morris International by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 139,432,392 shares of the company's stock worth $16,780,688,000 after buying an additional 1,167,810 shares in the last quarter. Capital World Investors boosted its holdings in Philip Morris International by 3.6% in the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company's stock valued at $14,752,926,000 after purchasing an additional 4,216,586 shares in the last quarter. GQG Partners LLC boosted its holdings in Philip Morris International by 14.3% in the fourth quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock valued at $5,866,678,000 after purchasing an additional 6,092,558 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Philip Morris International by 9.9% in the fourth quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company's stock valued at $4,241,837,000 after purchasing an additional 3,185,258 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Philip Morris International by 3.1% in the fourth quarter. Wellington Management Group LLP now owns 17,276,790 shares of the company's stock valued at $2,079,262,000 after purchasing an additional 516,617 shares in the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Price Performance

Philip Morris International stock traded up $0.13 during trading hours on Tuesday, hitting $180.88. The stock had a trading volume of 4,322,698 shares, compared to its average volume of 5,646,086. The stock has a market capitalization of $281.54 billion, a price-to-earnings ratio of 37.29, a PEG ratio of 2.61 and a beta of 0.51. Philip Morris International Inc. has a 1-year low of $104.84 and a 1-year high of $186.69. The stock's fifty day moving average is $178.33 and its two-hundred day moving average is $157.57.

Philip Morris International (NYSE:PM - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.08. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. Philip Morris International's revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.50 earnings per share. As a group, sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International's payout ratio is currently 111.34%.

Analyst Upgrades and Downgrades

PM has been the subject of a number of research reports. Bank of America boosted their price objective on Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. UBS Group set a $181.00 price objective on Philip Morris International and gave the company a "neutral" rating in a research note on Monday. Citigroup boosted their price objective on Philip Morris International from $188.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Needham & Company LLC started coverage on Philip Morris International in a research note on Thursday, May 22nd. They issued a "buy" rating for the company. Finally, Morgan Stanley restated an "overweight" rating and set a $182.00 price target (up previously from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $186.73.

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.