Alliance Wealth Management Group Buys New Holdings in Philip Morris International Inc. (NYSE:PM)

Key Points

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Alliance Wealth Management Group acquired a new stake in Philip Morris International Inc. (NYSE:PM - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,424 shares of the company's stock, valued at approximately $543,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PM. Pacifica Partners Inc. increased its stake in Philip Morris International by 115.0% in the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after purchasing an additional 115 shares in the last quarter. Redmont Wealth Advisors LLC bought a new stake in Philip Morris International in the first quarter valued at approximately $35,000. Inlight Wealth Management LLC bought a new position in Philip Morris International during the first quarter worth about $38,000. Ameriflex Group Inc. bought a new position in Philip Morris International during the fourth quarter worth about $36,000. Finally, Hughes Financial Services LLC bought a new position in Philip Morris International during the first quarter worth about $46,000. 78.63% of the stock is owned by institutional investors.

Philip Morris International Trading Down 0.7%

Shares of NYSE PM traded down $1.09 during mid-day trading on Friday, hitting $162.96. The company had a trading volume of 7,552,974 shares, compared to its average volume of 6,566,090. The company has a market capitalization of $253.66 billion, a PE ratio of 30.98, a price-to-earnings-growth ratio of 2.39 and a beta of 0.49. The firm has a 50-day simple moving average of $177.55 and a two-hundred day simple moving average of $161.60. Philip Morris International Inc. has a one year low of $113.15 and a one year high of $186.69.

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 for the quarter, beating the consensus estimate of $1.86 by $0.05. The company had revenue of $10.14 billion during the quarter, compared to analysts' expectations of $10.33 billion. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. Philip Morris International's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.59 EPS. Sell-side analysts expect 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 declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International's dividend payout ratio is 102.66%.

Wall Street Analyst Weigh In

Several research firms have weighed in on PM. Bank of America lifted their target price on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Morgan Stanley reiterated an "overweight" rating and set a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Needham & Company LLC reiterated a "buy" rating and set a $195.00 price objective on shares of Philip Morris International in a report on Wednesday, July 23rd. Barclays lowered their price objective on shares of Philip Morris International from $225.00 to $220.00 and set an "overweight" rating for the company in a research report on Wednesday. Finally, Citigroup reissued an "overweight" rating on shares of Philip Morris International in a research report on Tuesday, July 22nd. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, Philip Morris International has an average rating of "Moderate Buy" and an average price target of $186.27.

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.