Alpine Bank Wealth Management Takes $533,000 Position in Philip Morris International Inc. (NYSE:PM)

Alpine Bank Wealth Management acquired a new stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,359 shares of the company's stock, valued at approximately $533,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. NewSquare Capital LLC lifted its position in shares of Philip Morris International by 53.7% during the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company's stock valued at $25,000 after acquiring an additional 72 shares during the last quarter. Pacifica Partners Inc. lifted its position in shares of Philip Morris International by 115.0% during the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after acquiring an additional 115 shares during the last quarter. Inlight Wealth Management LLC purchased a new stake in shares of Philip Morris International in the first quarter valued at $38,000. Ameriflex Group Inc. purchased a new stake in shares of Philip Morris International in the fourth quarter valued at $36,000. Finally, Knuff & Co LLC purchased a new stake in shares of Philip Morris International in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 78.63% of the company's stock.

Philip Morris International Trading Up 0.2%

Philip Morris International stock traded up $0.45 during mid-day trading on Friday, hitting $181.11. 7,043,892 shares of the company's stock were exchanged, compared to its average volume of 5,622,344. The stock has a market cap of $281.90 billion, a P/E ratio of 37.34, a P/E/G ratio of 2.62 and a beta of 0.52. Philip Morris International Inc. has a 1-year low of $100.80 and a 1-year high of $186.69. The stock has a 50 day moving average of $175.96 and a two-hundred day moving average of $152.79.

Philip Morris International (NYSE:PM - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.61 by $0.08. The firm had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.10 billion. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The business's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.50 earnings per share. As a group, research analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.98%. The ex-dividend date is Friday, June 27th. Philip Morris International's payout ratio is 111.34%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Citigroup increased their target price on Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, April 16th. Barclays reaffirmed an "overweight" rating and issued a $220.00 price target (up from $205.00) on shares of Philip Morris International in a research note on Friday, June 13th. Argus raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. Stifel Nicolaus upped their price target on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Finally, Needham & Company LLC assumed coverage on shares of Philip Morris International in a research note on Thursday, May 22nd. They issued a "buy" rating on the stock. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Philip Morris International currently has a consensus rating of "Moderate Buy" and an average price target of $176.80.

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.