Ardent Capital Management Inc. Raises Stock Position in Philip Morris International Inc. (NYSE:PM)

Key Points

• Ardent Capital Management Inc. increased its stake in Philip Morris International Inc. by 19.1% during the first quarter, holding a total of 30,284 shares valued at approximately $4.8 million.
• Philip Morris reported $1.91 earnings per share for the last quarter, exceeding analysts' expectations of $1.86, despite a revenue of $10.14 billion that fell short of expectations.
• The company declared a quarterly dividend of $1.35 per share, representing a 3.2% yield, but noted a high dividend payout ratio of 102.66%.

Ardent Capital Management Inc. boosted its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 19.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 30,284 shares of the company's stock after acquiring an additional 4,850 shares during the period. Philip Morris International accounts for 2.1% of Ardent Capital Management Inc.'s portfolio, making the stock its 8th largest position. Ardent Capital Management Inc.'s holdings in Philip Morris International were worth $4,807,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PM. GAMMA Investing LLC grew its holdings in shares of Philip Morris International by 19,986.5% in the 1st quarter. GAMMA Investing LLC now owns 4,486,928 shares of the company's stock valued at $712,210,000 after buying an additional 4,464,590 shares during the period. Kovitz Investment Group Partners LLC grew its holdings in shares of Philip Morris International by 372.2% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 5,453,285 shares of the company's stock valued at $656,303,000 after buying an additional 4,298,530 shares during the period. Capital World Investors grew its holdings in shares of Philip Morris International by 3.6% in the 4th quarter. Capital World Investors now owns 122,584,210 shares of the company's stock valued at $14,752,926,000 after buying an additional 4,216,586 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Philip Morris International by 57.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company's stock valued at $1,554,686,000 after buying an additional 3,575,158 shares during the period. Finally, Lone Pine Capital LLC grew its holdings in shares of Philip Morris International by 44.4% in the 4th quarter. Lone Pine Capital LLC now owns 6,468,372 shares of the company's stock valued at $778,469,000 after buying an additional 1,987,716 shares during the period. Institutional investors and hedge funds own 78.63% of the company's stock.

Philip Morris International Stock Up 1.2%

PM traded up $2.06 during trading on Friday, hitting $170.23. The company had a trading volume of 3,774,105 shares, compared to its average volume of 7,011,663. The company 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 Inc. has a one year low of $115.62 and a one year high of $186.69. The firm's 50-day moving average price is $176.29 and its 200 day moving average price is $163.44.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.86 by $0.05. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The firm had revenue of $10.14 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same period in the previous year, the firm posted $1.59 EPS. The company's revenue for the quarter was up 7.1% on a year-over-year basis. Sell-side analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 annualized dividend and a yield of 3.2%. Philip Morris International's payout ratio is 102.66%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PM. Jefferies Financial Group began coverage on shares of Philip Morris International in a report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price target for the company. Wall Street Zen lowered shares of Philip Morris International from a "buy" rating to a "hold" rating in a report on Saturday. Bank of America boosted their price target on shares of Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. KGI Securities assumed coverage on shares of Philip Morris International in a report on Monday, August 4th. They issued an "outperform" rating for the company. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $195.00 price objective on shares of Philip Morris International in a research report on Wednesday, July 23rd. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, Philip Morris International has an average rating of "Moderate Buy" and an average target price of $186.27.

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.