Bright Financial Advisors Inc. Invests $257,000 in Philip Morris International Inc. (NYSE:PM)

Key Points

• Bright Financial Advisors Inc. has invested approximately $257,000 in Philip Morris International by acquiring 1,620 shares during the first quarter.
• Wall Street analysts have a moderate outlook on the stock, with 12 analysts rating it as a buy and a target price of $186.27.
• Philip Morris International recently announced a dividend of $1.35 per share, with a dividend yield of 3.2%, although its payout ratio is currently above 100%.

Bright Financial Advisors Inc. bought a new position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 1,620 shares of the company's stock, valued at approximately $257,000.

Several other hedge funds have also modified their holdings of the company. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Philip Morris International in the 1st quarter valued at approximately $34,000. Pacifica Partners Inc. raised its position in shares of 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 last quarter. Redmont Wealth Advisors LLC purchased a new position in shares of Philip Morris International in the 1st quarter valued at approximately $35,000. Ball & Co Wealth Management Inc. purchased a new position in Philip Morris International during the 4th quarter worth approximately $36,000. Finally, Ameriflex Group Inc. purchased a new position in Philip Morris International during the 4th quarter worth approximately $36,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Wall Street Zen lowered shares of Philip Morris International from a "buy" rating to a "hold" rating in a research report on Saturday. UBS Group lifted their price target on shares of Philip Morris International from $170.00 to $181.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Jefferies Financial Group started coverage on shares of Philip Morris International in a research note on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price target on the stock. Barclays dropped their price target 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, July 30th. Finally, Citigroup reissued an "overweight" rating on shares of Philip Morris International in a research note on Tuesday, July 22nd. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $186.27.

Philip Morris International Trading Down 1.0%

Shares of PM opened at $168.58 on Wednesday. The firm has a market cap of $262.41 billion, a P/E ratio of 32.05, a price-to-earnings-growth ratio of 2.48 and a beta of 0.48. Philip Morris International Inc. has a 12-month low of $115.87 and a 12-month high of $186.69. The company's 50-day moving average price is $175.77 and its 200 day moving average price is $164.04.

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 the consensus estimate of $1.86 by $0.05. The company had revenue of $10.14 billion during the quarter, compared to the consensus estimate of $10.33 billion. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. Philip Morris International's revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.59 EPS. Equities research 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 disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.2%. Philip Morris International's payout ratio is currently 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.