Bridgewater Advisors Inc. Invests $1.14 Million in Philip Morris International Inc. (NYSE:PM)

Bridgewater Advisors Inc. bought a new stake in Philip Morris International Inc. (NYSE:PM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,721 shares of the company's stock, valued at approximately $1,144,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. 49 Wealth Management LLC increased its holdings in shares of Philip Morris International by 79.0% in the first quarter. 49 Wealth Management LLC now owns 5,334 shares of the company's stock valued at $847,000 after purchasing an additional 2,354 shares during the last quarter. Cortland Associates Inc. MO increased its holdings in shares of Philip Morris International by 704.0% in the first quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company's stock valued at $22,690,000 after purchasing an additional 125,171 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Philip Morris International by 24.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock worth $69,695,000 after acquiring an additional 87,631 shares during the last quarter. Brighton Jones LLC increased its stake in Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock worth $1,027,000 after acquiring an additional 2,023 shares during the last quarter. Finally, Symmetry Investments LP acquired a new stake in Philip Morris International during the fourth quarter worth $1,966,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Stock Performance

NYSE PM traded down $0.42 during trading on Friday, reaching $178.75. 4,565,440 shares of the company's stock were exchanged, compared to its average volume of 5,956,866. The stock has a market cap of $278.23 billion, a P/E ratio of 36.86, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The company has a 50 day moving average price of $178.64 and a two-hundred day moving average price of $158.16. Philip Morris International Inc. has a 1 year low of $106.76 and a 1 year 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, topping analysts' consensus estimates of $1.61 by $0.08. The company had revenue of $9.30 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.50 EPS. Research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date was Friday, June 27th. Philip Morris International's dividend payout ratio (DPR) is 111.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Barclays raised their target price on Philip Morris International from $220.00 to $225.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. 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 note on Wednesday, June 4th. JPMorgan Chase & Co. raised their target price on Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Needham & Company LLC started coverage on Philip Morris International in a research report on Thursday, May 22nd. They set a "buy" rating for the company. Finally, UBS Group set a $181.00 price target on Philip Morris International and gave the stock a "neutral" rating in a research report on Monday. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to 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.