Brooklyn Investment Group Purchases 4,587 Shares of Philip Morris International Inc. $PM

Key Points

• Brooklyn Investment Group increased its stake in Philip Morris International by 62.2%, now owning a total of 11,964 shares valued at approximately $1.9 million.
• Analysts have a consensus rating of "Moderate Buy" for Philip Morris, with 12 analysts rating the stock a buy and a target price set at an average of $186.27.
• The company recently announced a quarterly dividend of $1.35 per share, reflecting a 3.2% yield and a dividend payout ratio of 102.66%.

Brooklyn Investment Group boosted its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 62.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,964 shares of the company's stock after buying an additional 4,587 shares during the quarter. Brooklyn Investment Group's holdings in Philip Morris International were worth $1,899,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PM. Brighton Jones LLC raised its holdings in Philip Morris International by 31.1% in 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 in the last quarter. Revolve Wealth Partners LLC raised its holdings in Philip Morris International by 4.5% in 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 in the last quarter. Dimensional Fund Advisors LP raised its holdings in Philip Morris International by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,139,375 shares of the company's stock worth $377,818,000 after purchasing an additional 19,164 shares in the last quarter. Curi RMB Capital LLC raised its holdings in Philip Morris International by 35.3% in the 4th quarter. Curi RMB Capital LLC now owns 107,939 shares of the company's stock worth $12,990,000 after purchasing an additional 28,164 shares in the last quarter. Finally, MYDA Advisors LLC raised its holdings in Philip Morris International by 44.8% in the 4th quarter. MYDA Advisors LLC now owns 84,000 shares of the company's stock worth $10,109,000 after purchasing an additional 26,000 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PM has been the subject of several research reports. Citigroup restated an "overweight" rating on shares of Philip Morris International in a report on Tuesday, July 22nd. Needham & Company LLC restated a "buy" rating and issued a $195.00 price objective on shares of Philip Morris International in a report on Wednesday, July 23rd. Bank of America upped their target price 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. Barclays reduced 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 report on Wednesday, July 30th. Finally, KGI Securities initiated coverage on shares of Philip Morris International in a research report on Monday, August 4th. They issued an "outperform" rating on the stock. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $186.27.

Philip Morris International Price Performance

NYSE:PM opened at $166.19 on Monday. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69. The firm's 50-day moving average price is $174.84 and its 200-day moving average price is $165.04. The company has a market capitalization of $258.69 billion, a PE ratio of 31.60, a P/E/G ratio of 2.42 and a beta of 0.48.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.86 by $0.05. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The company had revenue of $10.14 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the prior year, the firm posted $1.59 EPS. Philip Morris International's revenue for the quarter was up 7.1% on a year-over-year basis. Equities analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International's dividend payout ratio is 102.66%.

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.

Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM - Free Report).

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.