E Fund Management Co. Ltd. Has $3.18 Million Stake in Philip Morris International Inc. (NYSE:PM)

Key Points

• E Fund Management Co. Ltd. increased its stake in Philip Morris International by 18.7%, acquiring an additional 3,162 shares to hold a total of 20,044 shares worth approximately $3.2 million.
• Philip Morris International's recent earnings report showed earnings per share of $1.91, exceeding analysts' expectations, despite a revenue that fell short of forecasts at $10.14 billion.
• The company announced a quarterly dividend of $1.35 per share, which translates to an annual dividend of $5.40 and a yield of 3.2%.

E Fund Management Co. Ltd. lifted its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 18.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,044 shares of the company's stock after buying an additional 3,162 shares during the quarter. E Fund Management Co. Ltd.'s holdings in Philip Morris International were worth $3,182,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Clal Insurance Enterprises Holdings Ltd bought a new position in Philip Morris International during the first quarter worth $34,000. Pacifica Partners Inc. boosted its position in 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 purchasing an additional 115 shares during the period. Redmont Wealth Advisors LLC bought a new position in Philip Morris International during the first quarter worth $35,000. Ball & Co Wealth Management Inc. bought a new position in Philip Morris International during the fourth quarter worth $36,000. Finally, Ameriflex Group Inc. bought a new position in Philip Morris International during the fourth quarter worth $36,000. 78.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Bank of America lifted their price objective on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Wall Street Zen cut shares of Philip Morris International from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Jefferies Financial Group assumed coverage on Philip Morris International in a research note on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price target for the company. Stifel Nicolaus boosted their price target on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Finally, Citigroup reissued an "overweight" rating on shares of Philip Morris International in a research report on Tuesday, July 22nd. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $186.27.

Philip Morris International Stock Down 0.4%

Shares of Philip Morris International stock traded down $0.66 during trading on Thursday, reaching $165.22. The company's stock had a trading volume of 3,294,940 shares, compared to its average volume of 7,054,380. The firm has a market cap of $257.18 billion, a PE ratio of 31.41, a P/E/G ratio of 2.41 and a beta of 0.48. The business's 50-day moving average price is $175.15 and its 200-day moving average price is $164.30. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly 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. The business had revenue of $10.14 billion during the quarter, compared to the consensus estimate of $10.33 billion. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. Philip Morris International's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.59 earnings per share. Equities analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International's payout ratio is 102.66%.

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.