Almanack Investment Partners LLC. Takes Position in Philip Morris International Inc. (NYSE:PM)

Almanack Investment Partners LLC. bought a new stake in Philip Morris International Inc. (NYSE:PM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,484 shares of the company's stock, valued at approximately $236,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Philip Morris International by 24.9% in the 1st 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. Brighton Jones LLC increased its position in Philip Morris International by 31.1% in the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock valued at $1,027,000 after acquiring an additional 2,023 shares during the period. Symmetry Investments LP acquired a new position in Philip Morris International in the 4th quarter valued at about $1,966,000. Worth Asset Management LLC acquired a new position in Philip Morris International in the 1st quarter valued at about $2,223,000. Finally, Annex Advisory Services LLC increased its position in Philip Morris International by 46.6% in the 1st quarter. Annex Advisory Services LLC now owns 34,715 shares of the company's stock valued at $5,510,000 after acquiring an additional 11,034 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PM shares. Wall Street Zen upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. UBS Group upgraded Philip Morris International from a "sell" rating to a "neutral" rating and boosted their price target for the company from $130.00 to $170.00 in a research report on Friday, April 25th. Stifel Nicolaus boosted their price target on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Bank of America boosted their price target on Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, Barclays restated an "overweight" rating and issued a $220.00 price target (up previously from $205.00) on shares of Philip Morris International in a research report on Friday, June 13th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, Philip Morris International has a consensus rating of "Moderate Buy" and an average price target of $176.80.

Philip Morris International Trading Up 0.2%

NYSE PM opened at $181.11 on Friday. The business's 50 day moving average is $175.96 and its two-hundred day moving average is $152.97. Philip Morris International Inc. has a 12-month low of $100.80 and a 12-month high of $186.69. The stock has a market capitalization of $281.90 billion, a price-to-earnings ratio of 37.34, a PEG ratio of 2.62 and a beta of 0.52.

Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.08. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The company had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $9.10 billion. During the same quarter in the previous year, the firm posted $1.50 EPS. The firm's quarterly revenue was up 5.8% on a year-over-year basis. Equities analysts forecast 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 will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Friday, June 27th. Philip Morris International's dividend payout ratio is currently 111.34%.

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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