1,550 Shares in Philip Morris International Inc. (NYSE:PM) Acquired by Alterna Wealth Management Inc.

Alterna Wealth Management Inc. acquired a new stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 1,550 shares of the company's stock, valued at approximately $246,000.

Other large investors also recently bought and sold shares of the company. Perigon Wealth Management LLC boosted its position in shares of Philip Morris International by 0.4% during the 1st quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company's stock valued at $2,236,000 after acquiring an additional 60 shares during the last quarter. TBH Global Asset Management LLC raised its stake in Philip Morris International by 0.9% during the first quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company's stock worth $1,100,000 after purchasing an additional 61 shares during the period. Capital Advisors Wealth Management LLC boosted its holdings in Philip Morris International by 2.1% in the 1st quarter. Capital Advisors Wealth Management LLC now owns 3,005 shares of the company's stock valued at $477,000 after purchasing an additional 63 shares during the last quarter. Lloyd Advisory Services LLC. boosted its holdings in Philip Morris International by 3.3% in the 1st quarter. Lloyd Advisory Services LLC. now owns 2,032 shares of the company's stock valued at $323,000 after purchasing an additional 64 shares during the last quarter. Finally, Western Wealth Management LLC grew its stake in shares of Philip Morris International by 1.5% in the 1st quarter. Western Wealth Management LLC now owns 4,446 shares of the company's stock valued at $706,000 after buying an additional 64 shares during the period. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Stock Down 0.8%

NYSE:PM traded down $1.50 on Wednesday, reaching $176.03. 5,571,923 shares of the company's stock were exchanged, compared to its average volume of 5,623,040. The firm has a market capitalization of $273.99 billion, a price-to-earnings ratio of 36.29, a price-to-earnings-growth ratio of 2.64 and a beta of 0.51. Philip Morris International Inc. has a 52-week low of $100.80 and a 52-week high of $186.69. The business has a fifty day moving average of $176.63 and a 200-day moving average of $153.71.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates of $1.61 by $0.08. The firm had revenue of $9.30 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.50 earnings per share. As a group, equities analysts anticipate 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 announced 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. The ex-dividend date of this dividend is Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a yield of 3.07%. Philip Morris International's dividend payout ratio (DPR) is presently 111.34%.

Analyst Ratings Changes

PM has been the topic of a number of recent analyst reports. Citigroup upped their price objective 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 restated an "overweight" rating and issued a $220.00 target price (up previously from $205.00) on shares of Philip Morris International in a research report on Friday, June 13th. Bank of America increased their price target on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Needham & Company LLC assumed coverage on Philip Morris International in a research report on Thursday, May 22nd. They set a "buy" rating for the company. Finally, Morgan Stanley restated an "overweight" rating and issued a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $176.80.

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.