1,665 Shares in Philip Morris International Inc. (NYSE:PM) Purchased by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. bought a new position in Philip Morris International Inc. (NYSE:PM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,665 shares of the company's stock, valued at approximately $264,000.

Several other hedge funds and other institutional investors have also bought and sold shares of PM. Pacifica Partners Inc. boosted its holdings in Philip Morris International by 115.0% in the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock worth $35,000 after purchasing an additional 115 shares during the last quarter. Redmont Wealth Advisors LLC bought a new position in shares of Philip Morris International during the 1st quarter valued at $35,000. Ball & Co Wealth Management Inc. purchased a new position in shares of Philip Morris International in the 4th quarter worth $36,000. Ameriflex Group Inc. bought a new stake in shares of Philip Morris International in the fourth quarter worth $36,000. Finally, Inlight Wealth Management LLC purchased a new stake in Philip Morris International during the first quarter valued at $38,000. Institutional investors own 78.63% of the company's stock.

Philip Morris International Stock Up 1.7%

NYSE PM opened at $167.00 on Thursday. Philip Morris International Inc. has a twelve month low of $114.20 and a twelve month high of $186.69. The business has a 50-day moving average price of $176.70 and a 200-day moving average price of $162.53. The firm has a market cap of $259.96 billion, a price-to-earnings ratio of 31.75, a price-to-earnings-growth ratio of 2.39 and a beta of 0.48.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.86 by $0.05. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The business had revenue of $10.14 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same period last year, the firm posted $1.59 EPS. The company's revenue was up 7.1% on a year-over-year basis. Research analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were given a dividend of $1.35 per share. The ex-dividend date was Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.2%. Philip Morris International's dividend payout ratio (DPR) is presently 102.66%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PM shares. Bank of America raised their target price on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Stifel Nicolaus boosted their target price on shares of Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Citigroup reiterated an "overweight" rating on shares of Philip Morris International in a research report on Tuesday, July 22nd. Morgan Stanley reiterated 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $186.27.

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.

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