Del Sette Capital Management LLC Purchases New Position in Philip Morris International Inc. (NYSE:PM)

Del Sette Capital Management LLC bought a new position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,632 shares of the company's stock, valued at approximately $2,323,000. Philip Morris International comprises 1.8% of Del Sette Capital Management LLC's portfolio, making the stock its 21st biggest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pacifica Partners Inc. grew 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 buying an additional 115 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new position in Philip Morris International in the 1st quarter valued at about $35,000. Inlight Wealth Management LLC purchased a new position in Philip Morris International in the 1st quarter worth approximately $38,000. Ameriflex Group Inc. acquired a new position in shares of Philip Morris International in the 4th quarter valued at approximately $36,000. Finally, Hughes Financial Services LLC acquired a new stake in shares of Philip Morris International during the 1st quarter valued at approximately $46,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

PM has been the topic of a number of analyst reports. Wall Street Zen raised Philip Morris International from a "hold" rating to a "buy" rating in a report on Sunday. Jefferies Financial Group initiated coverage on Philip Morris International in a research note on Wednesday, July 9th. They issued a "buy" rating and a $220.00 target price for the company. Morgan Stanley reaffirmed an "overweight" rating and set a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Citigroup upped their price objective on Philip Morris International from $188.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Finally, Needham & Company LLC started coverage on Philip Morris International in a report on Thursday, May 22nd. They issued a "buy" rating on the stock. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $186.73.

Philip Morris International Stock Down 0.2%

PM stock traded down $0.42 during trading on Friday, hitting $178.75. 4,649,814 shares of the company's stock traded hands, compared to its average volume of 5,666,761. Philip Morris International Inc. has a 52 week low of $106.76 and a 52 week high of $186.69. The stock has a fifty day moving average price of $178.83 and a two-hundred day moving average price of $158.83. The stock has a market capitalization of $278.23 billion, a price-to-earnings ratio of 36.86, a price-to-earnings-growth ratio of 2.56 and a beta of 0.51.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.61 by $0.08. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The company had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter last year, the company posted $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 expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 annualized dividend and a dividend yield of 3.02%. Philip Morris International's dividend payout ratio is currently 111.34%.

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.