Arrow Investment Advisors LLC Makes New $259,000 Investment in Philip Morris International Inc. (NYSE:PM)

Arrow Investment Advisors LLC acquired a new position in Philip Morris International Inc. (NYSE:PM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,633 shares of the company's stock, valued at approximately $259,000.

Several other institutional investors have also added to or reduced their stakes in the company. Stableford Capital II LLC lifted its stake in Philip Morris International by 286.2% in the first quarter. Stableford Capital II LLC now owns 7,936 shares of the company's stock worth $1,295,000 after purchasing an additional 5,881 shares during the last quarter. Good Steward Wealth Advisors LLC purchased a new position in shares of Philip Morris International during the first quarter worth approximately $856,000. Investment Research & Advisory Group Inc. increased its position in shares of Philip Morris International by 6.3% during the first quarter. Investment Research & Advisory Group Inc. now owns 20,416 shares of the company's stock worth $3,241,000 after acquiring an additional 1,214 shares during the period. Walter & Keenan Wealth Management LLC IN ADV increased its position in shares of Philip Morris International by 3.7% during the first quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 8,943 shares of the company's stock worth $1,420,000 after acquiring an additional 321 shares during the period. Finally, Blue Trust Inc. increased its position in shares of Philip Morris International by 2.4% during the first quarter. Blue Trust Inc. now owns 24,315 shares of the company's stock worth $3,859,000 after acquiring an additional 559 shares during the period. Institutional investors own 78.63% of the company's stock.

Philip Morris International Stock Down 0.0%

PM stock traded down $0.04 during trading on Friday, hitting $182.57. 10,713,275 shares of the company's stock traded hands, compared to its average volume of 5,649,314. The firm has a market capitalization of $284.18 billion, a P/E ratio of 37.64, a PEG ratio of 2.65 and a beta of 0.52. The business has a fifty day simple moving average of $173.82 and a two-hundred day simple moving average of $150.99. Philip Morris International Inc. has a 1 year low of $98.93 and a 1 year high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.08. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. Philip Morris International's revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company posted $1.50 earnings per share. On average, equities 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 declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Friday, June 27th. Philip Morris International's payout ratio is presently 111.34%.

Analyst Ratings Changes

A number of equities analysts have recently commented on PM shares. Citigroup raised their target price on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. Needham & Company LLC started coverage on shares of Philip Morris International in a research report on Thursday, May 22nd. They set a "buy" rating on the stock. Bank of America raised 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 report on Wednesday, June 4th. UBS Group raised shares of Philip Morris International from a "sell" rating to a "neutral" rating and raised their target price for the stock from $130.00 to $170.00 in a research report on Friday, April 25th. Finally, Stifel Nicolaus raised their target price on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $176.80.

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.