Rossby Financial LCC Purchases New Shares in Philip Morris International Inc. (NYSE:PM)

Rossby Financial LCC acquired a new position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,688 shares of the company's stock, valued at approximately $287,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. NewSquare Capital LLC increased its position in shares of Philip Morris International by 53.7% during the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company's stock worth $25,000 after purchasing an additional 72 shares in the last quarter. Pacifica Partners Inc. grew its stake in Philip Morris International by 115.0% during the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock worth $35,000 after buying an additional 115 shares during the last quarter. Knuff & Co LLC purchased a new position in Philip Morris International during the 4th quarter worth $36,000. Ball & Co Wealth Management Inc. acquired a new position in Philip Morris International during the 4th quarter valued at about $36,000. Finally, Ameriflex Group Inc. purchased a new stake in Philip Morris International in the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Stock Performance

Shares of Philip Morris International stock traded up $3.09 during trading on Friday, hitting $179.00. 2,734,143 shares of the company's stock were exchanged, compared to its average volume of 5,634,419. The stock has a market capitalization of $278.62 billion, a price-to-earnings ratio of 36.91, a PEG ratio of 2.59 and a beta of 0.51. The business has a 50-day simple moving average of $177.14 and a 200-day simple moving average of $154.59. Philip Morris International Inc. has a 52-week low of $100.80 and a 52-week high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share 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 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%. The company's revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $1.50 EPS. On average, equities analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders 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 yield of 3.02%. Philip Morris International's payout ratio is 111.34%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PM. UBS Group upgraded Philip Morris International from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $130.00 to $170.00 in a research note on Friday, April 25th. Citigroup boosted 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 report on Wednesday, April 16th. Needham & Company LLC started coverage on shares of Philip Morris International in a research note on Thursday, May 22nd. They set a "buy" rating on the stock. Morgan Stanley reiterated an "overweight" rating and set a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Finally, Argus raised Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $176.80.

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.