CCM Investment Group LLC Invests $7.64 Million in Philip Morris International Inc. (NYSE:PM)

Key Points

• CCM Investment Group LLC purchased 49,249 shares of Philip Morris International, valued at approximately $7.64 million, making it the company's 12th biggest holding.
• Philip Morris International reported a net margin of 9.03% for the last quarter, with revenues of $10.14 billion, slightly below analysts' estimates.
• The company announced a quarterly dividend of $1.35 per share, with a yield of 3.2%, despite having a dividend payout ratio of 102.66%.

CCM Investment Group LLC acquired a new position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 49,249 shares of the company's stock, valued at approximately $7,641,000. Philip Morris International accounts for 0.8% of CCM Investment Group LLC's portfolio, making the stock its 12th largest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Perigon Wealth Management LLC lifted its position in Philip Morris International by 0.4% during the 1st quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company's stock worth $2,236,000 after buying an additional 60 shares in the last quarter. TBH Global Asset Management LLC increased its stake in shares of Philip Morris International by 0.9% during the 1st 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 last quarter. Capital Advisors Wealth Management LLC increased its stake in shares of Philip Morris International by 2.1% during the 1st 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 last quarter. Renasant Bank increased its stake in shares of Philip Morris International by 3.3% during the 1st quarter. Renasant Bank now owns 1,994 shares of the company's stock worth $317,000 after purchasing an additional 63 shares during the last quarter. Finally, Lloyd Advisory Services LLC. increased its stake in shares of Philip Morris International by 3.3% during the 1st 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 last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Trading Down 1.0%

NYSE PM traded down $1.74 during trading on Tuesday, reaching $168.58. The company's stock had a trading volume of 5,443,920 shares, compared to its average volume of 7,016,421. The firm has a market capitalization of $262.41 billion, a price-to-earnings 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 firm has a 50 day moving average price of $175.77 and a 200 day moving average price of $164.04.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.86 by $0.05. The firm 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 business's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.59 EPS. On average, equities analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend 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%.

Wall Street Analysts Forecast Growth

PM has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Philip Morris International from a "buy" rating to a "hold" rating in a research note on Saturday. Needham & Company LLC reiterated a "buy" rating and issued a $195.00 price target on shares of Philip Morris International in a research note on Wednesday, July 23rd. Morgan Stanley reiterated an "overweight" rating and issued a $182.00 price target (up previously from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Barclays decreased 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, UBS Group upped 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. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $186.27.

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.