Arkadios Wealth Advisors Purchases 2,104 Shares of Philip Morris International Inc. (NYSE:PM)

Key Points

• Arkadios Wealth Advisors increased its holdings in Philip Morris International by 8.5%, owning 26,726 shares valued at approximately $4.24 million as of the latest SEC filing.
• Recent analyst reports have shown a range of target price adjustments for Philip Morris, with UBS Group raising its target from $170 to $181, while Barclays lowered it from $225 to $220, yet maintaining an "overweight" rating.
• The company recently announced a quarterly dividend of $1.35, representing a 3.33% yield and a dividend payout ratio of 102.66% during a period of evolving towards smoke-free products.

Arkadios Wealth Advisors raised its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 8.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,726 shares of the company's stock after purchasing an additional 2,104 shares during the quarter. Arkadios Wealth Advisors' holdings in Philip Morris International were worth $4,242,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Pacifica Partners Inc. boosted its position in Philip Morris International by 115.0% during 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 bought a new position in Philip Morris International during the first quarter valued at about $35,000. Ball & Co Wealth Management Inc. bought a new position in Philip Morris International during the fourth quarter valued at about $36,000. Ameriflex Group Inc. acquired a new stake in Philip Morris International during the fourth quarter valued at approximately $36,000. Finally, Inlight Wealth Management LLC acquired a new stake in Philip Morris International during the first quarter valued at approximately $38,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Price Performance

Philip Morris International stock traded down $1.09 during trading hours on Friday, hitting $162.96. The company had a trading volume of 7,552,974 shares, compared to its average volume of 6,566,090. The firm has a market cap of $253.66 billion, a PE ratio of 30.98, a PEG ratio of 2.37 and a beta of 0.49. Philip Morris International Inc. has a one year low of $113.15 and a one year high of $186.69. The firm has a 50-day moving average of $177.55 and a 200 day moving average of $161.60.

Philip Morris International (NYSE:PM - Get Free Report) last announced its 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 company had revenue of $10.14 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same period last year, the firm earned $1.59 earnings per share. The business's revenue for the quarter was up 7.1% on a year-over-year basis. As a group, research 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 announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were given a $1.35 dividend. The ex-dividend date was Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a yield of 3.3%. Philip Morris International's dividend payout ratio (DPR) is currently 102.66%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PM shares. Stifel Nicolaus boosted their target price on Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. JPMorgan Chase & Co. upped their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Needham & Company LLC restated a "buy" rating and issued a $195.00 price objective on shares of Philip Morris International in a research report on Wednesday, July 23rd. Bank of America upped their target price on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Finally, Citigroup reaffirmed an "overweight" rating on shares of Philip Morris International in a research note on Tuesday, July 22nd. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Philip Morris International presently has a consensus rating of "Moderate Buy" and a consensus target price of $186.27.

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.