Eagle Global Advisors LLC Raises Position in Philip Morris International Inc. (NYSE:PM)

Key Points

• Eagle Global Advisors LLC increased its holdings in Philip Morris International by 1.2%, resulting in ownership of 168,084 shares valued at approximately $26.68 million.
• Philip Morris International surpassed analysts' earnings expectations, reporting $1.91 earnings per share compared to the anticipated $1.86, and a year-over-year revenue growth of 7.1%.
• The company recently announced a quarterly dividend of $1.35 per share, providing a dividend yield of 3.2% with a payout ratio of 102.66%.

Eagle Global Advisors LLC grew its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 1.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 168,084 shares of the company's stock after buying an additional 1,956 shares during the quarter. Philip Morris International accounts for 1.1% of Eagle Global Advisors LLC's portfolio, making the stock its 22nd largest position. Eagle Global Advisors LLC's holdings in Philip Morris International were worth $26,680,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Cypress Capital Group raised its holdings in shares of Philip Morris International by 3.9% during the first quarter. Cypress Capital Group now owns 48,244 shares of the company's stock valued at $7,658,000 after purchasing an additional 1,827 shares during the last quarter. Ballast Inc. purchased a new position in shares of Philip Morris International during the first quarter valued at approximately $234,000. Independent Advisor Alliance raised its holdings in shares of Philip Morris International by 4.9% during the first quarter. Independent Advisor Alliance now owns 80,329 shares of the company's stock valued at $12,751,000 after purchasing an additional 3,781 shares during the last quarter. Linscomb Wealth Inc. raised its holdings in shares of Philip Morris International by 3.3% during the first quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company's stock valued at $13,207,000 after purchasing an additional 2,669 shares during the last quarter. Finally, First American Trust FSB raised its holdings in shares of Philip Morris International by 80.0% during the first quarter. First American Trust FSB now owns 56,382 shares of the company's stock valued at $8,949,000 after purchasing an additional 25,063 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Trading Down 0.4%

Philip Morris International stock traded down $0.66 during midday trading on Thursday, hitting $165.22. The stock had a trading volume of 3,294,929 shares, compared to its average volume of 6,093,715. The firm's fifty day moving average is $175.47 and its two-hundred day moving average is $164.05. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69. The company has a market capitalization of $257.18 billion, a PE ratio of 31.41, a P/E/G ratio of 2.45 and a beta of 0.48.

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, topping analysts' consensus estimates of $1.86 by $0.05. The company had revenue of $10.14 billion for the quarter, compared to analysts' expectations of $10.33 billion. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. The firm's revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.59 EPS. As a group, equities research analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PM. Citigroup reissued an "overweight" rating on shares of Philip Morris International in a report on Tuesday, July 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Morgan Stanley reissued an "overweight" rating and issued a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Needham & Company LLC reissued a "buy" rating and issued a $195.00 price objective on shares of Philip Morris International in a report on Wednesday, July 23rd. Finally, Jefferies Financial Group initiated coverage on shares of Philip Morris International in a report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Philip Morris International presently has a consensus rating of "Moderate Buy" and a consensus target price of $186.27.

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.