EverSource Wealth Advisors LLC Has $1.39 Million Position in Philip Morris International Inc. $PM

Key Points

• EverSource Wealth Advisors LLC increased its holdings in Philip Morris International by 24.4%, owning 8,746 shares worth approximately $1.39 million as of the latest filing.
• Major institutional investors have shown significant interest in Philip Morris, with companies like Nuveen LLC and Goldman Sachs increasing their stakes substantially in recent quarters.
• Philip Morris reported quarterly earnings of $1.91 per share, exceeding analysts' expectations, though revenue fell short of targets at $10.14 billion.

EverSource Wealth Advisors LLC raised its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 24.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,746 shares of the company's stock after buying an additional 1,713 shares during the period. EverSource Wealth Advisors LLC's holdings in Philip Morris International were worth $1,388,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Linscomb Wealth Inc. lifted its position in Philip Morris International by 3.3% in the 1st quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company's stock worth $13,207,000 after buying an additional 2,669 shares in the last quarter. Mackenzie Financial Corp lifted its position in Philip Morris International by 7.3% in the 1st quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company's stock worth $568,873,000 after buying an additional 242,799 shares in the last quarter. 49 Wealth Management LLC lifted its position in Philip Morris International by 79.0% in the 1st quarter. 49 Wealth Management LLC now owns 5,334 shares of the company's stock worth $847,000 after buying an additional 2,354 shares in the last quarter. Cortland Associates Inc. MO lifted its position in Philip Morris International by 704.0% in the 1st quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company's stock worth $22,690,000 after buying an additional 125,171 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Philip Morris International by 24.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock worth $69,695,000 after buying an additional 87,631 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Up 0.1%

NYSE PM traded up $0.18 during midday trading on Monday, hitting $166.37. The company had a trading volume of 3,769,562 shares, compared to its average volume of 6,840,928. The stock has a market cap of $258.97 billion, a price-to-earnings ratio of 31.63, a P/E/G ratio of 2.42 and a beta of 0.48. The firm has a fifty day simple moving average of $174.55 and a two-hundred day simple moving average of $165.29. Philip Morris International Inc. has a fifty-two week low of $116.12 and a fifty-two 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.05. The company had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.33 billion. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The business's quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the business posted $1.59 EPS. As a group, equities analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, June 27th. Philip Morris International's dividend payout ratio (DPR) is currently 102.66%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PM shares. Barclays cut their price target on shares of Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Bank of America raised their price target on shares of Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. KGI Securities started coverage on shares of Philip Morris International in a report on Monday, August 4th. They set an "outperform" rating on the stock. JPMorgan Chase & Co. raised their price target 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. Finally, Jefferies Financial Group assumed coverage on shares of Philip Morris International in a report on Wednesday, July 9th. They set a "buy" rating and a $220.00 price target on the stock. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price 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.