Philip Morris International Inc. (NYSE:PM) Holdings Lifted by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC raised its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 127.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 364,272 shares of the company's stock after purchasing an additional 203,838 shares during the quarter. Philip Morris International comprises approximately 1.0% of Exchange Traded Concepts LLC's holdings, making the stock its 18th biggest holding. Exchange Traded Concepts LLC's holdings in Philip Morris International were worth $57,821,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. NewSquare Capital LLC boosted its holdings in shares of Philip Morris International by 53.7% in the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company's stock valued at $25,000 after purchasing an additional 72 shares during the last quarter. Pacifica Partners Inc. lifted its holdings in shares of Philip Morris International by 115.0% during the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after acquiring an additional 115 shares in the last quarter. Ameriflex Group Inc. acquired a new position in shares of Philip Morris International during the 4th quarter valued at $36,000. Knuff & Co LLC acquired a new position in shares of Philip Morris International during the 4th quarter valued at $36,000. Finally, Ball & Co Wealth Management Inc. acquired a new position in shares of Philip Morris International during the 4th quarter valued at $36,000. Institutional investors and hedge funds own 78.63% of the company's stock.

Philip Morris International Stock Down 0.6%

Shares of PM traded down $1.09 during midday trading on Monday, hitting $183.24. The company had a trading volume of 5,181,015 shares, compared to its average volume of 5,614,186. The company's 50 day moving average price is $170.67 and its 200 day moving average price is $149.47. The stock has a market cap of $285.21 billion, a price-to-earnings ratio of 40.63, a PEG ratio of 2.65 and a beta of 0.52. Philip Morris International Inc. has a 52 week low of $98.93 and a 52 week high of $186.65.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates of $1.61 by $0.08. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter in the prior year, the firm earned $1.50 EPS. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. Equities analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International's dividend payout ratio is presently 111.34%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PM. Needham & Company LLC began coverage on shares of Philip Morris International in a report on Thursday, May 22nd. They set a "buy" rating on the stock. Citigroup lifted their target price on shares of Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, April 16th. Barclays restated an "overweight" rating and set a $220.00 target price (up previously from $205.00) on shares of Philip Morris International in a report on Friday. Morgan Stanley reaffirmed an "overweight" rating and set a $182.00 price target (up previously from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Finally, Stifel Nicolaus lifted their price target on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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.