Fortis Group Advisors LLC Grows Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Fortis Group Advisors LLC lifted its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 70.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,649 shares of the company's stock after purchasing an additional 2,759 shares during the period. Fortis Group Advisors LLC's holdings in Philip Morris International were worth $1,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacifica Partners Inc. grew its stake in Philip Morris International by 115.0% during the first 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. Redmont Wealth Advisors LLC purchased a new position in Philip Morris International during the first quarter valued at $35,000. Ball & Co Wealth Management Inc. purchased a new position in Philip Morris International during the fourth quarter valued at $36,000. Ameriflex Group Inc. purchased a new position in Philip Morris International during the fourth quarter valued at $36,000. Finally, Inlight Wealth Management LLC purchased a new position in shares of Philip Morris International in the 1st quarter worth $38,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PM has been the subject of a number of recent research reports. Wall Street Zen cut shares of Philip Morris International from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Jefferies Financial Group started coverage on shares of Philip Morris International in a research note on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price objective for the company. Morgan Stanley restated an "overweight" rating and issued a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Needham & Company LLC started coverage on shares of Philip Morris International in a report on Thursday, May 22nd. They issued a "buy" rating for the company. Finally, Citigroup raised their target price on shares of Philip Morris International from $188.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $186.73.

Philip Morris International Price Performance

Shares of NYSE:PM traded down $3.77 during trading hours on Thursday, hitting $179.51. The company's stock had a trading volume of 6,940,221 shares, compared to its average volume of 5,662,811. Philip Morris International Inc. has a 52 week low of $106.76 and a 52 week high of $186.69. The company has a market capitalization of $279.40 billion, a price-to-earnings ratio of 37.01, a P/E/G ratio of 2.63 and a beta of 0.51. The firm's fifty day moving average price is $178.49 and its 200 day moving average price is $157.75.

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

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International's dividend payout ratio is presently 111.34%.

About Philip Morris International

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.