Bleakley Financial Group LLC Raises Stake in Philip Morris International Inc. (NYSE:PM)

Bleakley Financial Group LLC increased its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 4.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,857 shares of the company's stock after buying an additional 3,872 shares during the period. Bleakley Financial Group LLC's holdings in Philip Morris International were worth $15,692,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC lifted its stake in shares of Philip Morris International by 31.1% during the 4th 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 period. Revolve Wealth Partners LLC lifted its stake 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 worth $252,000 after purchasing an additional 91 shares during the period. Proficio Capital Partners LLC raised its position in shares of Philip Morris International by 60.4% in the 4th quarter. Proficio Capital Partners LLC now owns 3,863 shares of the company's stock worth $465,000 after buying an additional 1,455 shares during the period. Picton Mahoney Asset Management raised its position in shares of Philip Morris International by 47.8% in the 4th quarter. Picton Mahoney Asset Management now owns 866 shares of the company's stock worth $104,000 after buying an additional 280 shares during the period. Finally, Choate Investment Advisors raised its position in shares of Philip Morris International by 122.2% in the 4th quarter. Choate Investment Advisors now owns 8,214 shares of the company's stock worth $989,000 after buying an additional 4,517 shares during the period. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Price Performance

Shares of Philip Morris International stock opened at $179.73 on Monday. Philip Morris International Inc. has a 1-year low of $104.84 and a 1-year high of $186.69. The company has a market capitalization of $279.75 billion, a PE ratio of 37.06, a P/E/G ratio of 2.60 and a beta of 0.51. The business has a 50-day moving average of $178.05 and a 200-day moving average of $157.00.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, beating 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 quarter last year, the firm earned $1.50 EPS. Philip Morris International's quarterly revenue was up 5.8% on a year-over-year basis. On average, equities analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Friday, June 27th. Philip Morris International's payout ratio is 111.34%.

Analyst Upgrades and Downgrades

PM has been the topic of several research reports. Jefferies Financial Group initiated coverage on Philip Morris International in a research report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 target price on the stock. Stifel Nicolaus increased their target price on Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Bank of America increased their target price on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. UBS Group raised Philip Morris International from a "sell" rating to a "neutral" rating and increased their target price for the stock from $130.00 to $170.00 in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. increased their target price on Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $185.73.

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.

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