Cooper Financial Group Increases Stake in Philip Morris International Inc. (NYSE:PM)

Key Points

• Cooper Financial Group increased its stake in Philip Morris International, acquiring an additional 2,361 shares, bringing its total holdings to 10,403 shares valued at approximately $1.65 million.
• Several institutional investors, including Brighton Jones LLC and Scotia Capital Inc., also raised their positions in Philip Morris International, contributing to a total institutional ownership of 78.63%.
• The company reported $1.91 earnings per share in its latest quarterly earnings, surpassing analysts' expectations, although its revenue fell short of estimates at $10.14 billion.

Cooper Financial Group boosted its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 29.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 10,403 shares of the company's stock after buying an additional 2,361 shares during the period. Cooper Financial Group's holdings in Philip Morris International were worth $1,651,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of PM. Pacifica Partners Inc. grew its stake in shares of Philip Morris International by 115.0% in the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after buying an additional 115 shares in the last quarter. Redmont Wealth Advisors LLC bought a new position in shares of Philip Morris International in the first quarter valued at $35,000. Inlight Wealth Management LLC bought a new position in shares of Philip Morris International in the first quarter valued at $38,000. Pandora Wealth Inc. bought a new position in shares of Philip Morris International in the first quarter valued at $42,000. Finally, Ameriflex Group Inc. bought a new position in shares of Philip Morris International in the fourth quarter valued at $36,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Down 0.2%

PM traded down $0.35 during trading hours on Thursday, hitting $165.54. The stock had a trading volume of 1,933,301 shares, compared to its average volume of 6,084,448. The company's fifty day simple moving average is $175.47 and its 200 day simple moving average is $164.05. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69. The stock has a market cap of $257.67 billion, a PE ratio of 31.46, a price-to-earnings-growth ratio of 2.45 and a beta of 0.48.

Philip Morris International (NYSE:PM - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.86 by $0.05. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. The business had revenue of $10.14 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter last year, the company earned $1.59 EPS. The firm's revenue was up 7.1% compared to the same quarter last year. As a group, equities analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors 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 3.3%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International's dividend payout ratio (DPR) is currently 102.66%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. UBS Group raised their target price 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. Needham & Company LLC reaffirmed a "buy" rating and set a $195.00 price objective on shares of Philip Morris International in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Wall Street Zen cut shares of Philip Morris International from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Citigroup reaffirmed an "overweight" rating on shares of Philip Morris International in a research report on Tuesday, July 22nd. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.