Algert Global LLC Boosts Stock Position in Philip Morris International Inc. $PM

Key Points

• Algert Global LLC increased its stock position in Philip Morris International Inc. by 3.6% in the first quarter, bringing their total shares to 50,694, valued at approximately $8,047,000.
• A variety of institutional investors, including Mackenzie Financial Corp and Cortland Associates Inc., have also made significant increases to their stakes in the company during the same period.
• Recent analyst reports have set various price targets for Philip Morris shares, with Barclays lowering its target to $220.00 while JPMorgan Chase raised theirs to $190.00, indicating a generally positive outlook on the stock.

Algert Global LLC boosted its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 3.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 50,694 shares of the company's stock after purchasing an additional 1,754 shares during the quarter. Algert Global LLC's holdings in Philip Morris International were worth $8,047,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Linscomb Wealth Inc. grew its stake in Philip Morris International by 3.3% in the 1st quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company's stock worth $13,207,000 after acquiring an additional 2,669 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Philip Morris International by 7.3% during the first quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company's stock worth $568,873,000 after purchasing an additional 242,799 shares during the last quarter. 49 Wealth Management LLC grew its position 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 period. Cortland Associates Inc. MO grew its position 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 period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Philip Morris International by 24.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock valued at $69,695,000 after purchasing an additional 87,631 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on PM shares. Barclays decreased their price target on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Morgan Stanley reissued an "overweight" rating and issued a $182.00 target price (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. UBS Group boosted their target price on shares of Philip Morris International from $170.00 to $181.00 and gave the company a "neutral" rating in a report on Monday, July 14th. JPMorgan Chase & Co. increased their price target on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, Citigroup reiterated an "overweight" rating on shares of Philip Morris International in a report on Tuesday, July 22nd. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $186.27.

Philip Morris International Trading Up 0.6%

Shares of PM stock opened at $166.19 on Monday. The company has a market cap of $258.69 billion, a PE ratio of 31.60, a P/E/G ratio of 2.42 and a beta of 0.48. The company's fifty day simple moving average is $174.84 and its 200-day simple moving average is $165.04. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69.

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

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 annualized dividend and a yield of 3.2%. Philip Morris International's payout ratio is 102.66%.

Philip Morris International 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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