Denali Advisors LLC Takes $3.04 Million Position in Philip Morris International Inc. (NYSE:PM)

Denali Advisors LLC bought a new position in Philip Morris International Inc. (NYSE:PM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 19,122 shares of the company's stock, valued at approximately $3,035,000.

Several other institutional investors and hedge funds have also bought and sold shares of PM. Birinyi Associates Inc. purchased a new position in Philip Morris International in the 1st quarter worth approximately $238,000. Csenge Advisory Group increased its position in shares of Philip Morris International by 5.4% during the 1st quarter. Csenge Advisory Group now owns 28,977 shares of the company's stock valued at $4,729,000 after purchasing an additional 1,495 shares during the last quarter. Private Advisor Group LLC increased its position in shares of Philip Morris International by 1.7% during the 1st quarter. Private Advisor Group LLC now owns 84,986 shares of the company's stock valued at $13,490,000 after purchasing an additional 1,420 shares during the last quarter. FLC Capital Advisors boosted its holdings in Philip Morris International by 2.3% during the 1st quarter. FLC Capital Advisors now owns 14,937 shares of the company's stock valued at $2,371,000 after acquiring an additional 340 shares during the period. Finally, Yeomans Consulting Group Inc. purchased a new position in Philip Morris International during the 1st quarter valued at $299,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PM shares. Jefferies Financial Group started coverage on Philip Morris International in a research report on Wednesday, July 9th. They set a "buy" rating and a $220.00 price target on the stock. Bank of America raised their price objective on Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Needham & Company LLC assumed coverage on Philip Morris International in a research report on Thursday, May 22nd. They set a "buy" rating on the stock. Barclays raised their price objective on Philip Morris International from $220.00 to $225.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Finally, Citigroup raised their price objective on Philip Morris International from $188.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $186.73.

Philip Morris International Stock Down 0.2%

Shares of NYSE:PM traded down $0.42 during trading on Friday, hitting $178.75. The stock had a trading volume of 4,649,814 shares, compared to its average volume of 5,666,761. Philip Morris International Inc. has a 12-month low of $106.76 and a 12-month high of $186.69. 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. The stock has a 50-day simple moving average of $178.83 and a two-hundred day simple moving average of $158.83.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) 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 analysts' expectations of $9.10 billion. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $1.50 earnings per share. As a group, sell-side analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The business also recently declared 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. This represents a $5.40 annualized dividend and a yield of 3.02%. The ex-dividend date was Friday, June 27th. Philip Morris International's dividend payout ratio is currently 111.34%.

Philip Morris International Company 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.