Envestnet Asset Management Inc. Has $907.91 Million Holdings in Philip Morris International Inc. (NYSE:PM)

Envestnet Asset Management Inc. increased its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 3.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,719,832 shares of the company's stock after buying an additional 181,973 shares during the period. Envestnet Asset Management Inc. owned 0.37% of Philip Morris International worth $907,909,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacifica Partners Inc. grew its position in shares of Philip Morris International by 115.0% in the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after purchasing an additional 115 shares during the last quarter. Redmont Wealth Advisors LLC bought a new stake in Philip Morris International in the 1st quarter valued at $35,000. Knuff & Co LLC acquired a new position in Philip Morris International in the 4th quarter valued at $36,000. Ball & Co Wealth Management Inc. bought a new position in Philip Morris International during the 4th quarter worth $36,000. Finally, Ameriflex Group Inc. bought a new position in Philip Morris International during the 4th quarter worth $36,000. 78.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on PM shares. Bank of America upped their price target on shares of Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Citigroup raised their target price on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, April 16th. UBS Group upgraded Philip Morris International from a "sell" rating to a "neutral" rating and boosted their price target for the company from $130.00 to $170.00 in a research note on Friday, April 25th. Stifel Nicolaus raised their price objective on Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Finally, Barclays reiterated an "overweight" rating and set a $220.00 target price (up from $205.00) on shares of Philip Morris International in a research report on Friday, June 13th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $176.80.

Philip Morris International Price Performance

Shares of Philip Morris International stock traded up $2.24 on Monday, hitting $181.12. 4,652,143 shares of the company's stock traded hands, compared to its average volume of 5,638,751. The company has a fifty day moving average of $177.14 and a two-hundred day moving average of $155.03. Philip Morris International Inc. has a one year low of $101.62 and a one year high of $186.69. The company has a market capitalization of $281.92 billion, a price-to-earnings ratio of 37.34, a price-to-earnings-growth ratio of 2.59 and a beta of 0.51.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.61 by $0.08. The firm had revenue of $9.30 billion for 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 in the prior year, the business earned $1.50 EPS. Equities research analysts anticipate 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 will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International's dividend payout ratio (DPR) is currently 111.34%.

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.