Birinyi Associates Inc. Makes New $238,000 Investment in Philip Morris International Inc. (NYSE:PM)

Birinyi Associates Inc. purchased a new position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,500 shares of the company's stock, valued at approximately $238,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Pacifica Partners Inc. raised its position 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 buying an additional 115 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new stake in shares of Philip Morris International during the first quarter valued at approximately $35,000. Ball & Co Wealth Management Inc. purchased a new stake in shares of Philip Morris International during the fourth quarter valued at approximately $36,000. Ameriflex Group Inc. purchased a new stake in shares of Philip Morris International during the fourth quarter valued at approximately $36,000. Finally, Inlight Wealth Management LLC purchased a new stake in shares of Philip Morris International during the first quarter valued at approximately $38,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Price Performance

Shares of Philip Morris International stock traded down $0.42 during trading hours on Friday, reaching $178.75. The company had a trading volume of 4,649,814 shares, compared to its average volume of 5,666,761. Philip Morris International Inc. has a one year low of $106.76 and a one year high of $186.69. The business has a fifty day simple moving average of $178.83 and a 200 day simple moving average of $158.83. The firm has a market cap of $278.23 billion, a PE ratio of 36.86, a price-to-earnings-growth ratio of 2.56 and a beta of 0.51.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.08. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The firm had revenue of $9.30 billion during the quarter, compared to analyst estimates of $9.10 billion. During the same period last year, the company earned $1.50 earnings per share. The business's revenue for the quarter was up 5.8% on a year-over-year basis. On average, research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.02%. Philip Morris International's dividend payout ratio (DPR) is presently 111.34%.

Analysts Set New Price Targets

A number of brokerages recently commented on PM. Needham & Company LLC began coverage on Philip Morris International in a research report on Thursday, May 22nd. They set a "buy" rating for the company. Stifel Nicolaus increased their price objective on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Jefferies Financial Group began coverage on Philip Morris International in a report on Wednesday, July 9th. They set a "buy" rating and a $220.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Finally, Bank of America increased their price objective on Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. One 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.