Concurrent Investment Advisors LLC increased its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 62.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,486 shares of the company's stock after purchasing an additional 19,032 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Philip Morris International were worth $7,855,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Pacifica Partners Inc. increased its position in Philip Morris International by 115.0% in the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock worth $35,000 after buying an additional 115 shares during the last quarter. Redmont Wealth Advisors LLC bought a new position in shares of Philip Morris International during the 1st quarter worth $35,000. Inlight Wealth Management LLC purchased a new stake in Philip Morris International in the 1st quarter worth about $38,000. Ameriflex Group Inc. bought a new stake in Philip Morris International in the 4th quarter valued at about $36,000. Finally, Knuff & Co LLC purchased a new stake in Philip Morris International during the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 78.63% of the company's stock.
Philip Morris International Price Performance
NYSE PM opened at $179.00 on Friday. The company's 50 day simple moving average is $177.14 and its two-hundred day simple moving average is $154.59. Philip Morris International Inc. has a 1 year low of $100.80 and a 1 year high of $186.69. The stock has a market capitalization of $278.62 billion, a PE ratio of 36.91, a P/E/G ratio of 2.59 and a beta of 0.51.
Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.08. The firm had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $9.10 billion. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The business's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.50 earnings per share. On average, research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.
Philip Morris International Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be issued a $1.35 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $5.40 annualized dividend and a dividend yield of 3.02%. Philip Morris International's payout ratio is currently 111.34%.
Analyst Ratings Changes
A number of equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. UBS Group raised shares of Philip Morris International from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $130.00 to $170.00 in a report on Friday, April 25th. Morgan Stanley reiterated an "overweight" rating and issued a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Needham & Company LLC started coverage on Philip Morris International in a research report on Thursday, May 22nd. They set a "buy" rating on the stock. Finally, Argus raised Philip Morris International from a "hold" rating to a "buy" rating in a report on Friday, March 14th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, Philip Morris International has an average rating of "Moderate Buy" and an average price target of $176.80.
Read Our Latest Report on Philip Morris International
Philip Morris International Profile
(
Free Report)
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.
Further Reading
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