Crossmark Global Holdings Inc. Acquires 8,310 Shares of Philip Morris International Inc. (NYSE:PM)

Crossmark Global Holdings Inc. raised its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 30.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 35,281 shares of the company's stock after purchasing an additional 8,310 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Philip Morris International were worth $5,600,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pacifica Partners Inc. increased its stake in 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 acquiring an additional 115 shares during the period. Redmont Wealth Advisors LLC bought a new stake in Philip Morris International in the first quarter valued at about $35,000. Inlight Wealth Management LLC bought a new stake in Philip Morris International in the first quarter valued at about $38,000. Ameriflex Group Inc. bought a new stake in Philip Morris International in the fourth quarter valued at about $36,000. Finally, Knuff & Co LLC bought a new stake in Philip Morris International in the fourth quarter valued at about $36,000. Institutional investors own 78.63% of the company's stock.

Philip Morris International Stock Up 0.0%

NYSE:PM traded up $0.01 on Wednesday, reaching $177.73. The stock had a trading volume of 3,820,558 shares, compared to its average volume of 5,623,930. Philip Morris International Inc. has a 1-year low of $101.62 and a 1-year high of $186.69. The stock has a fifty day moving average price of $177.53 and a 200-day moving average price of $155.58. The company has a market capitalization of $276.64 billion, a P/E ratio of 36.65, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51.

Philip Morris International (NYSE:PM - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, topping 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 company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same period in the prior year, the business earned $1.50 earnings per share. Philip Morris International's quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be given a dividend of $1.35 per share. 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 3.04%. Philip Morris International's payout ratio is 111.34%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Argus raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. Bank of America upped their target price on shares of Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Wall Street Zen raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. UBS Group upgraded shares of Philip Morris International from a "sell" rating to a "neutral" rating and boosted their price target for the company from $130.00 to $170.00 in a research report on Friday, April 25th. Finally, Stifel Nicolaus boosted their price target 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. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $180.73.

About Philip Morris International

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.