Baker Avenue Asset Management LP Acquires Shares of 1,979 Philip Morris International Inc. (NYSE:PM)

Key Points

• Baker Avenue Asset Management LP has acquired 1,979 shares of Philip Morris International Inc. for approximately $314,000 in the first quarter, highlighting ongoing interest from institutional investors.
• Philip Morris recently announced a quarterly dividend of $1.35 per share, resulting in an annualized yield of 3.3%, despite a high dividend payout ratio of 102.66%.
• Analysts generally maintain a positive outlook on Philip Morris, with an average target price of $186.27, and twelve analysts assigning a buy rating to the stock.

Baker Avenue Asset Management LP acquired a new stake in Philip Morris International Inc. (NYSE:PM - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,979 shares of the company's stock, valued at approximately $314,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PM. Perigon Wealth Management LLC increased its stake in Philip Morris International by 0.4% during the 1st quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company's stock worth $2,236,000 after buying an additional 60 shares during the period. TBH Global Asset Management LLC increased its stake in Philip Morris International by 0.9% during the 1st quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company's stock worth $1,100,000 after buying an additional 61 shares during the period. Capital Advisors Wealth Management LLC increased its stake in Philip Morris International by 2.1% during the 1st quarter. Capital Advisors Wealth Management LLC now owns 3,005 shares of the company's stock worth $477,000 after buying an additional 63 shares during the period. Lloyd Advisory Services LLC. increased its stake in Philip Morris International by 3.3% during the 1st quarter. Lloyd Advisory Services LLC. now owns 2,032 shares of the company's stock worth $323,000 after buying an additional 64 shares during the period. Finally, Western Wealth Management LLC increased its stake in Philip Morris International by 1.5% during the 1st quarter. Western Wealth Management LLC now owns 4,446 shares of the company's stock worth $706,000 after buying an additional 64 shares during the period. Hedge funds and other institutional investors own 78.63% of the company's stock.

Analyst Upgrades and Downgrades

PM has been the topic of several recent research reports. Barclays cut their target price on shares of Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a research note on Wednesday. Citigroup reissued an "overweight" rating on shares of Philip Morris International in a research report on Tuesday, July 22nd. Wall Street Zen raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Sunday, July 20th. Jefferies Financial Group assumed coverage on shares of Philip Morris International in a research report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their price objective 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. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Philip Morris International currently has an average rating of "Moderate Buy" and an average price target of $186.27.

Philip Morris International Price Performance

NYSE PM opened at $162.96 on Friday. The firm's fifty day moving average price is $177.55 and its 200 day moving average price is $161.90. The company has a market capitalization of $253.66 billion, a price-to-earnings ratio of 30.98, a price-to-earnings-growth ratio of 2.37 and a beta of 0.49. Philip Morris International Inc. has a 12 month low of $113.15 and a 12 month high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, beating analysts' consensus estimates of $1.86 by $0.05. The firm had revenue of $10.14 billion for the quarter, compared to the consensus estimate of $10.33 billion. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The company's revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm posted $1.59 EPS. As a group, 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 business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International's dividend payout ratio (DPR) is 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.

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