Envestnet Asset Management Inc. Raises Holdings in Philip Morris International Inc. (NYSE:PM)

Envestnet Asset Management Inc. increased its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,719,832 shares of the company's stock after purchasing an additional 181,973 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.37% of Philip Morris International worth $907,909,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC boosted its stake in Philip Morris International by 0.4% in the 1st quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company's stock worth $2,236,000 after purchasing an additional 60 shares during the period. TBH Global Asset Management LLC raised its holdings in shares of Philip Morris International by 0.9% during the 1st quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company's stock worth $1,100,000 after acquiring an additional 61 shares in the last quarter. Capital Advisors Wealth Management LLC raised its holdings in shares of Philip Morris International by 2.1% during the 1st quarter. Capital Advisors Wealth Management LLC now owns 3,005 shares of the company's stock worth $477,000 after acquiring an additional 63 shares in the last quarter. Lloyd Advisory Services LLC. raised its holdings in shares of Philip Morris International by 3.3% during the 1st quarter. Lloyd Advisory Services LLC. now owns 2,032 shares of the company's stock worth $323,000 after acquiring an additional 64 shares in the last quarter. Finally, Western Wealth Management LLC raised its holdings in shares of Philip Morris International by 1.5% during the 1st quarter. Western Wealth Management LLC now owns 4,446 shares of the company's stock worth $706,000 after acquiring an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Trading Down 2.0%

PM traded down $3.54 on Tuesday, hitting $177.66. The company had a trading volume of 4,175,208 shares, compared to its average volume of 5,631,143. The firm has a market cap of $276.53 billion, a P/E ratio of 36.63, a PEG ratio of 2.59 and a beta of 0.51. Philip Morris International Inc. has a 1 year low of $101.62 and a 1 year high of $186.69. The company's fifty day moving average price is $177.38 and its 200 day moving average price is $155.43.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.08. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The firm had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter in the previous year, the business earned $1.50 EPS. The company's quarterly revenue was up 5.8% compared to the same quarter last year. On average, analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be given a dividend of $1.35 per share. The ex-dividend date is Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.04%. Philip Morris International's dividend payout ratio (DPR) is presently 111.34%.

Analyst Ratings Changes

Several research firms recently weighed in on PM. Wall Street Zen upgraded Philip Morris International from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Needham & Company LLC began coverage on Philip Morris International in a report on Thursday, May 22nd. They set a "buy" rating on the stock. Stifel Nicolaus increased their price target on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a report on Thursday, April 24th. UBS Group upgraded Philip Morris International from a "sell" rating to a "neutral" rating and increased their price target for the company from $130.00 to $170.00 in a report on Friday, April 25th. Finally, Argus upgraded Philip Morris International from a "hold" rating to a "buy" rating in a report on Friday, March 14th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $176.80.

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.