Cullen Frost Bankers Inc. Purchases 1,403 Shares of Philip Morris International Inc. (NYSE:PM)

Cullen Frost Bankers Inc. boosted its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 0.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 276,627 shares of the company's stock after purchasing an additional 1,403 shares during the period. Cullen Frost Bankers Inc.'s holdings in Philip Morris International were worth $43,909,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. 49 Wealth Management LLC grew its holdings in Philip Morris International by 79.0% in the 1st quarter. 49 Wealth Management LLC now owns 5,334 shares of the company's stock valued at $847,000 after buying an additional 2,354 shares during the last quarter. Cortland Associates Inc. MO increased its holdings in shares of Philip Morris International by 704.0% during the 1st quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company's stock worth $22,690,000 after purchasing an additional 125,171 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Philip Morris International by 24.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock valued at $69,695,000 after buying an additional 87,631 shares during the last quarter. Brighton Jones LLC lifted its stake in shares of Philip Morris International by 31.1% in the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock valued at $1,027,000 after buying an additional 2,023 shares during the period. Finally, Symmetry Investments LP bought a new position in Philip Morris International during the fourth quarter valued at about $1,966,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Price Performance

Shares of Philip Morris International stock traded down $0.23 during midday trading on Friday, reaching $178.94. The company had a trading volume of 1,572,728 shares, compared to its average volume of 5,647,640. The firm has a market cap of $278.53 billion, a PE ratio of 36.87, a P/E/G ratio of 2.63 and a beta of 0.51. Philip Morris International Inc. has a fifty-two week low of $106.76 and a fifty-two week high of $186.69. The stock has a fifty day moving average price of $178.64 and a 200 day moving average price of $158.16.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The business's quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the company posted $1.50 EPS. As a group, sell-side analysts forecast 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 was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a yield of 3.02%. Philip Morris International's dividend payout ratio (DPR) is presently 111.34%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PM. Wall Street Zen lowered shares of Philip Morris International from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Jefferies Financial Group initiated coverage on Philip Morris International in a report on Wednesday, July 9th. They set a "buy" rating and a $220.00 price objective on the stock. Stifel Nicolaus lifted 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 note on Thursday, April 24th. JPMorgan Chase & Co. upped their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, UBS Group set a $181.00 price objective on shares of Philip Morris International and gave the company a "neutral" rating in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $186.73.

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.