AlphaCore Capital LLC Makes New Investment in Philip Morris International Inc. (NYSE:PM)

Key Points

• AlphaCore Capital LLC has purchased 2,363 shares of Philip Morris International, valued at approximately $378,000, as part of their new investment strategy during the first quarter.
• Institutional investors and hedge funds now own 78.63% of Philip Morris International's stock, indicating significant institutional interest in the company.
• Philip Morris International's recent earnings per share of $1.91 exceeded market expectations and reflects a 7.1% year-over-year revenue increase, though quarterly revenue fell short of analyst forecasts.

AlphaCore Capital LLC purchased a new position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,363 shares of the company's stock, valued at approximately $378,000.

A number of other institutional investors have also recently bought and sold shares of the business. Pacifica Partners Inc. grew its position in shares of 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 during the last quarter. Redmont Wealth Advisors LLC acquired a new position in shares of Philip Morris International in the first quarter valued at approximately $35,000. Ball & Co Wealth Management Inc. acquired a new position in shares of Philip Morris International in the fourth quarter valued at approximately $36,000. Ameriflex Group Inc. acquired a new position in shares of Philip Morris International in the fourth quarter valued at approximately $36,000. Finally, Inlight Wealth Management LLC acquired a new position in shares of Philip Morris International in the first quarter valued at approximately $38,000. Institutional investors and hedge funds own 78.63% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Morgan Stanley reaffirmed an "overweight" rating and issued a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. 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 note on Thursday, April 24th. Wall Street Zen cut Philip Morris International from a "buy" rating to a "hold" rating in a research note on Saturday. Jefferies Financial Group started coverage on Philip Morris International in a research note on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price target for the company. Finally, UBS Group boosted their price target on Philip Morris International from $170.00 to $181.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $186.27.

Philip Morris International Price Performance

NYSE PM opened at $170.23 on Friday. The business has a fifty day moving average price of $176.29 and a two-hundred day moving average price of $163.44. Philip Morris International Inc. has a fifty-two week low of $115.62 and a fifty-two week high of $186.69. The stock has a market capitalization of $264.98 billion, a PE ratio of 32.36, a PEG ratio of 2.48 and a beta of 0.48.

Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.91 earnings per share for the quarter, topping 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 firm had revenue of $10.14 billion during the quarter, compared to analysts' expectations of $10.33 billion. During the same period in the prior year, the company earned $1.59 earnings per share. The company's quarterly revenue was up 7.1% on a year-over-year basis. As a group, sell-side analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

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

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.

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