Assetmark Inc. Has $44.27 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Key Points

• Assetmark Inc. increased its stake in Philip Morris International Inc. by 13.5%, acquiring an additional 33,075 shares, bringing their total to 278,873 shares worth approximately $44.27 million.
• Several institutional investors, including GAMMA Investing LLC and Kovitz Investment Group Partners LLC, significantly boosted their positions in Philip Morris, indicating strong interest in the stock.
• Research firms are bullish on Philip Morris International, with multiple analysts giving the stock a "buy" rating and setting price targets ranging from $182.00 to $220.00.

Assetmark Inc. lifted its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 13.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 278,873 shares of the company's stock after purchasing an additional 33,075 shares during the period. Assetmark Inc.'s holdings in Philip Morris International were worth $44,266,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of PM. Brighton Jones LLC lifted its position in shares of Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock worth $1,027,000 after purchasing an additional 2,023 shares during the last quarter. Revolve Wealth Partners LLC grew its position in shares of Philip Morris International by 4.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company's stock valued at $252,000 after buying an additional 91 shares during the last quarter. American Century Companies Inc. grew its position in shares of Philip Morris International by 37.4% during the 4th quarter. American Century Companies Inc. now owns 14,425 shares of the company's stock valued at $1,736,000 after buying an additional 3,929 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Philip Morris International during the 4th quarter valued at about $209,000. Finally, Congress Wealth Management LLC DE grew its position in shares of Philip Morris International by 16.0% during the 4th quarter. Congress Wealth Management LLC DE now owns 11,875 shares of the company's stock valued at $1,429,000 after buying an additional 1,642 shares during the last quarter. Institutional investors own 78.63% of the company's stock.

Philip Morris International Trading Up 2.6%

PM stock traded up $4.07 on Tuesday, hitting $161.84. 5,028,807 shares of the company's stock traded hands, compared to its average volume of 6,096,182. Philip Morris International Inc. has a 1-year low of $113.15 and a 1-year high of $186.69. The stock has a market cap of $251.90 billion, a price-to-earnings ratio of 30.77, a P/E/G ratio of 2.34 and a beta of 0.51. The stock has a fifty day moving average of $178.55 and a 200-day moving average of $160.95.

Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.86 by $0.05. The business had revenue of $10.14 billion during the quarter, compared to analyst estimates of $10.33 billion. Philip Morris International had a net margin of 10.57% and a negative return on equity of 120.86%. The business's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.59 earnings per share. On average, equities research analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors 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 annualized dividend and a dividend yield of 3.34%. Philip Morris International's dividend payout ratio (DPR) is presently 102.66%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PM shares. Needham & Company LLC reaffirmed a "buy" rating and set a $195.00 price objective on shares of Philip Morris International in a research report on Wednesday, July 23rd. Morgan Stanley reaffirmed an "overweight" rating and set a $182.00 price target (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Wall Street Zen raised Philip Morris International from a "hold" rating to a "buy" rating in a report on Sunday, July 20th. Barclays reaffirmed an "overweight" rating on shares of Philip Morris International in a report on Tuesday, July 22nd. Finally, Jefferies Financial Group started coverage on Philip Morris International in a report on Wednesday, July 9th. They set a "buy" rating and a $220.00 price target on the stock. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $186.73.

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.