Ballast Inc. Makes New $234,000 Investment in Philip Morris International Inc. (NYSE:PM)

Key Points

• Ballast Inc. recently acquired a new position in Philip Morris International Inc., purchasing 1,475 shares worth approximately $234,000 in the first quarter.
• The company's stock has a market capitalization of $264.98 billion and has recently reported earnings of $1.91 per share, exceeding analysts' expectations of $1.86.
• Philip Morris International declared a quarterly dividend of $1.35, resulting in an annualized dividend yield of 3.2% despite having a high dividend payout ratio of 102.66%.

Ballast Inc. 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 13F filing with the SEC. The institutional investor acquired 1,475 shares of the company's stock, valued at approximately $234,000.

Other hedge funds also recently made changes to their positions in the company. Perigon Wealth Management LLC boosted its position in shares of Philip Morris International by 0.4% in the first quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company's stock valued at $2,236,000 after acquiring an additional 60 shares during the period. TBH Global Asset Management LLC lifted its position in Philip Morris International by 0.9% during the first quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company's stock worth $1,100,000 after purchasing an additional 61 shares during the period. Capital Advisors Wealth Management LLC lifted its position in Philip Morris International by 2.1% during the first quarter. Capital Advisors Wealth Management LLC now owns 3,005 shares of the company's stock worth $477,000 after purchasing an additional 63 shares during the period. Renasant Bank lifted its position in Philip Morris International by 3.3% during the first quarter. Renasant Bank now owns 1,994 shares of the company's stock worth $317,000 after purchasing an additional 63 shares during the period. Finally, Lloyd Advisory Services LLC. lifted its position in Philip Morris International by 3.3% during the first quarter. Lloyd Advisory Services LLC. now owns 2,032 shares of the company's stock worth $323,000 after purchasing an additional 64 shares during the period. Institutional investors and hedge funds own 78.63% of the company's stock.

Analysts Set New Price Targets

PM has been the subject of several recent analyst reports. Morgan Stanley reaffirmed an "overweight" rating and set a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Bank of America upped their price objective 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. 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. Barclays lowered their target price on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. Finally, KGI Securities initiated coverage on Philip Morris International in a research note on Monday, August 4th. They set an "outperform" rating for the company. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $186.27.

Philip Morris International Stock Performance

Shares of Philip Morris International stock traded down $0.66 on Thursday, hitting $165.22. The stock had a trading volume of 3,294,929 shares, compared to its average volume of 6,093,715. The stock has a 50 day moving average of $175.47 and a 200 day moving average of $164.05. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69. The firm has a market capitalization of $257.18 billion, a P/E ratio of 31.41, a PEG ratio of 2.45 and a beta of 0.48.

Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results 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. The business had revenue of $10.14 billion during 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 for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.59 EPS. Equities analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International's dividend payout ratio is currently 102.66%.

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.