Fi3 FINANCIAL ADVISORS LLC Takes $248,000 Position in Philip Morris International Inc. (NYSE:PM)

Key Points

• Fi3 Financial Advisors LLC acquired 1,559 shares of Philip Morris International Inc. for approximately $248,000 in the first quarter.
• GAMMA Investing LLC significantly boosted its holdings by 19,986.5%, now owning 4.4 million shares valued at over $712 million.
• The stock currently holds a consensus Moderate Buy rating, with a price target averaging $186.27 among analysts.

Fi3 FINANCIAL ADVISORS LLC purchased a new stake in Philip Morris International Inc. (NYSE:PM - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,559 shares of the company's stock, valued at approximately $248,000.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in 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 purchasing an additional 4,464,590 shares during the period. Kovitz Investment Group Partners LLC increased its holdings 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 valued at $656,303,000 after purchasing an additional 4,298,530 shares during the period. Capital World Investors increased its holdings 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 valued at $14,752,926,000 after purchasing an additional 4,216,586 shares during the period. Goldman Sachs Group Inc. increased its holdings in Philip Morris International by 57.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company's stock valued at $1,554,686,000 after purchasing an additional 3,575,158 shares during the period. Finally, Lone Pine Capital LLC increased its holdings 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 valued at $778,469,000 after purchasing an additional 1,987,716 shares during the period. 78.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PM has been the subject of a number of recent research reports. Jefferies Financial Group started coverage on Philip Morris International in a report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price objective for the company. Morgan Stanley reiterated an "overweight" rating and set a $182.00 price target (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Bank of America increased their price target on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Barclays decreased their price target on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $195.00 price target on shares of Philip Morris International in a report on Wednesday, July 23rd. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, Philip Morris International currently has a consensus rating of "Moderate Buy" and an average price target of $186.27.

Philip Morris International Price Performance

Shares of PM opened at $163.92 on Wednesday. The stock has a 50-day moving average of $176.93 and a 200-day moving average of $162.49. The company has a market cap of $255.15 billion, a PE ratio of 31.16, a P/E/G ratio of 2.37 and a beta of 0.48. Philip Morris International Inc. has a one year low of $113.20 and a one year high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.86 by $0.05. The company had revenue of $10.14 billion during the quarter, compared to the consensus estimate of $10.33 billion. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. The firm's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the business posted $1.59 EPS. Analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

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

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.

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