Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $17.38 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Key Points

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Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 928.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 109,466 shares of the company's stock after acquiring an additional 98,825 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Philip Morris International were worth $17,376,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PM. GAMMA Investing LLC raised its holdings in shares of Philip Morris International by 19,986.5% in the first quarter. GAMMA Investing LLC now owns 4,486,928 shares of the company's stock valued at $712,210,000 after buying an additional 4,464,590 shares during the last quarter. Kovitz Investment Group Partners LLC increased its position in Philip Morris International by 372.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,453,285 shares of the company's stock worth $656,303,000 after purchasing an additional 4,298,530 shares during the period. Capital World Investors increased its position in Philip Morris International by 3.6% in the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company's stock worth $14,752,926,000 after purchasing an additional 4,216,586 shares during the period. Lone Pine Capital LLC increased its position in Philip Morris International by 44.4% in the fourth quarter. Lone Pine Capital LLC now owns 6,468,372 shares of the company's stock worth $778,469,000 after purchasing an additional 1,987,716 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in Philip Morris International by 22.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,018,628 shares of the company's stock worth $1,431,527,000 after purchasing an additional 1,635,636 shares during the period. 78.63% of the stock is owned by institutional investors.

Philip Morris International Stock Performance

NYSE PM traded down $0.08 during trading on Monday, hitting $162.88. The stock had a trading volume of 5,186,048 shares, compared to its average volume of 6,174,779. Philip Morris International Inc. has a 12 month low of $113.15 and a 12 month high of $186.69. The company has a market capitalization of $253.54 billion, a PE ratio of 30.97, a P/E/G ratio of 2.37 and a beta of 0.49. The company's 50-day moving average price is $177.55 and its two-hundred day moving average price is $162.20.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping 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 company had revenue of $10.14 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same quarter in the prior year, the business posted $1.59 EPS. The business's revenue was up 7.1% compared to the same quarter last year. As a group, equities analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on PM. Jefferies Financial Group began coverage on Philip Morris International in a research report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price objective for the company. Citigroup reiterated an "overweight" rating on shares of Philip Morris International in a research report on Tuesday, July 22nd. Bank of America boosted their target price on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Needham & Company LLC restated a "buy" rating and set a $195.00 target price on shares of Philip Morris International in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. boosted their target price on Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Philip Morris International presently has a consensus rating of "Moderate Buy" and an average price target of $186.27.

Philip Morris International 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.