Avantax Advisory Services Inc. Grows Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Key Points

• Avantax Advisory Services Inc. increased its holdings in Philip Morris International Inc. by 7.5% during the first quarter, owning a total of 100,761 shares valued at approximately $15.99 million.
• Analysts are optimistic about Philip Morris, with twelve buy ratings and a consensus target price of **$186.73**, indicating a moderate buy sentiment in the market.
• The company recently declared a quarterly dividend of $1.35 per share, reflecting an annualized yield of 3.36%, despite a dividend payout ratio of over 102%.

Avantax Advisory Services Inc. raised its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 7.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,761 shares of the company's stock after acquiring an additional 7,046 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Philip Morris International were worth $15,994,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Pacifica Partners Inc. boosted its holdings in Philip Morris International by 115.0% in the 1st 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 period. Redmont Wealth Advisors LLC purchased a new stake in shares of Philip Morris International in the first quarter worth $35,000. Ball & Co Wealth Management Inc. bought a new stake in Philip Morris International during the fourth quarter valued at $36,000. Ameriflex Group Inc. purchased a new position in Philip Morris International during the fourth quarter worth about $36,000. Finally, Inlight Wealth Management LLC bought a new position in Philip Morris International in the 1st quarter worth about $38,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Wall Street Analyst Weigh In

PM has been the subject of several recent analyst reports. Needham & Company LLC reissued a "buy" rating and set a $195.00 price objective on shares of Philip Morris International in a report on Wednesday. Barclays restated an "overweight" rating on shares of Philip Morris International in a research report on Tuesday. JPMorgan Chase & Co. upped their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Morgan Stanley restated an "overweight" rating and set a $182.00 price target (up previously from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Finally, Citigroup reiterated an "overweight" rating on shares of Philip Morris International in a report on Tuesday. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Philip Morris International currently has an average rating of "Moderate Buy" and an average target price of $186.73.

Philip Morris International Price Performance

Shares of PM stock opened at $160.92 on Friday. The business has a 50-day moving average of $178.86 and a 200 day moving average of $160.14. Philip Morris International Inc. has a 1-year low of $112.43 and a 1-year high of $186.69. The stock has a market capitalization of $250.47 billion, a PE ratio of 30.59, a P/E/G ratio of 2.30 and a beta of 0.51.

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

Philip Morris International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International's dividend payout ratio (DPR) is presently 102.66%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.