Cerity Partners LLC Buys 9,637 Shares of Philip Morris International Inc. (NYSE:PM)

Cerity Partners LLC lifted its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 304,597 shares of the company's stock after acquiring an additional 9,637 shares during the period. Cerity Partners LLC's holdings in Philip Morris International were worth $48,360,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Pacifica Partners Inc. boosted its holdings in shares of Philip Morris International by 115.0% during the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock worth $35,000 after purchasing an additional 115 shares during the period. Redmont Wealth Advisors LLC bought a new stake in shares of Philip Morris International during the first quarter valued at approximately $35,000. Ball & Co Wealth Management Inc. bought a new stake in Philip Morris International in the 4th quarter worth approximately $36,000. Ameriflex Group Inc. bought a new stake in Philip Morris International in the 4th quarter worth approximately $36,000. Finally, Inlight Wealth Management LLC purchased a new position in shares of Philip Morris International during the 1st quarter worth $38,000. 78.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Needham & Company LLC started coverage on shares of Philip Morris International in a research note on Thursday, May 22nd. They issued a "buy" rating on the stock. Stifel Nicolaus increased their target price on shares of Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. UBS Group set a $181.00 price target on shares of Philip Morris International and gave the company a "neutral" rating in a research note on Monday. Bank of America increased their price target 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. Finally, Morgan Stanley restated an "overweight" rating and set a $182.00 target price (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $186.73.

Philip Morris International Stock Performance

Shares of Philip Morris International stock traded up $0.24 during midday trading on Monday, reaching $180.15. 2,234,402 shares of the company's stock traded hands, compared to its average volume of 5,630,172. The company has a market cap of $280.41 billion, a price-to-earnings ratio of 37.16, a price-to-earnings-growth ratio of 2.60 and a beta of 0.51. The company's 50 day simple moving average is $178.05 and its 200 day simple moving average is $157.00. Philip Morris International Inc. has a 52 week low of $104.84 and a 52 week high of $186.69.

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

Philip Morris International Announces Dividend

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

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.