Donoghue Forlines LLC Has $2.36 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Key Points

• Donoghue Forlines LLC increased its investment in Philip Morris International by 18.7% in Q1, holding 14,880 shares valued at approximately $2.36 million, which accounts for 0.7% of their total portfolio.
• The company's quarterly earnings showed a profit of $1.91 per share, surpassing estimates, despite a revenue that fell short of expectations at $10.14 billion.
• Philip Morris International announced a quarterly dividend of $1.35 per share, yielding 3.2%, but has a high dividend payout ratio of 102.66%.

Donoghue Forlines LLC lifted its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 18.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,880 shares of the company's stock after buying an additional 2,340 shares during the period. Philip Morris International makes up 0.7% of Donoghue Forlines LLC's holdings, making the stock its 23rd largest position. Donoghue Forlines LLC's holdings in Philip Morris International were worth $2,362,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mackenzie Financial Corp raised its position in shares of Philip Morris International by 7.3% during the first quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company's stock worth $568,873,000 after purchasing an additional 242,799 shares during the period. 49 Wealth Management LLC raised its position in shares of Philip Morris International by 79.0% during the first quarter. 49 Wealth Management LLC now owns 5,334 shares of the company's stock worth $847,000 after purchasing an additional 2,354 shares during the period. Cortland Associates Inc. MO raised its position in shares of Philip Morris International by 704.0% during the first 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 worth $69,695,000 after purchasing an additional 87,631 shares during the period. Finally, SpringVest Wealth Management LLC acquired a new stake in shares of Philip Morris International during the first quarter worth $253,000. Institutional investors own 78.63% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PM. Needham & Company LLC reaffirmed a "buy" rating and set a $195.00 target price on shares of Philip Morris International in a research report on Wednesday, July 23rd. Citigroup reissued an "overweight" rating on shares of Philip Morris International in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. upped their price target on Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Jefferies Financial Group assumed 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. Finally, Barclays dropped their price target on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Philip Morris International presently has a consensus rating of "Moderate Buy" and a consensus target price of $186.27.

Philip Morris International Trading Up 1.2%

NYSE PM traded up $2.06 on Friday, reaching $170.23. The stock had a trading volume of 3,774,105 shares, compared to its average volume of 7,028,849. The business has a 50 day moving average price of $176.29 and a 200 day moving average price of $163.71. Philip Morris International Inc. has a 1 year low of $115.62 and a 1 year high of $186.69. The company has a market capitalization of $264.98 billion, a price-to-earnings ratio of 32.36, a P/E/G ratio of 2.48 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, beating analysts' consensus estimates 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 firm had revenue of $10.14 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter in the previous year, the company posted $1.59 earnings per share. The business's quarterly revenue was up 7.1% compared to the same quarter last year. On average, analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, June 27th. Philip Morris International's dividend payout ratio is 102.66%.

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.