Courage Miller Partners LLC Buys Shares of 1,500 Philip Morris International Inc. (NYSE:PM)

Courage Miller Partners LLC bought a new stake in Philip Morris International Inc. (NYSE:PM - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 1,500 shares of the company's stock, valued at approximately $238,000.

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

Philip Morris International Trading Up 1.8%

Shares of PM traded up $3.09 during trading hours on Friday, reaching $179.00. The company had a trading volume of 2,734,143 shares, compared to its average volume of 5,642,713. The firm has a 50 day simple moving average of $177.14 and a 200-day simple moving average of $154.80. The company has a market capitalization of $278.61 billion, a price-to-earnings ratio of 36.91, a PEG ratio of 2.59 and a beta of 0.51. Philip Morris International Inc. has a 12-month low of $101.62 and a 12-month high of $186.69.

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

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be issued a $1.35 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.02%. Philip Morris International's dividend payout ratio is presently 111.34%.

Analysts Set New Price Targets

A number of analysts recently weighed in on PM shares. Needham & Company LLC started coverage on shares of Philip Morris International in a research note on Thursday, May 22nd. They set a "buy" rating for the company. Wall Street Zen upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Citigroup raised their target price on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, April 16th. Bank of America raised their target price on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Finally, Stifel Nicolaus raised their target price on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $176.80.

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.