Foundations Investment Advisors LLC Boosts Stake in Philip Morris International Inc. (NYSE:PM)

Key Points

• Foundations Investment Advisors LLC increased its stake in Philip Morris International by 56.5%, owning 35,067 shares valued at approximately $5.57 million after acquiring additional shares in the first quarter.
• Numerous hedge funds raised their holdings in Philip Morris International, with notable increases of 79.0% and 704.0% from other institutional investors in the first quarter.
• Philip Morris International's quarterly earnings report beat analysts' expectations with $1.91 earnings per share, though revenue fell slightly short of estimates at $10.14 billion.

Foundations Investment Advisors LLC raised its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 56.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,067 shares of the company's stock after buying an additional 12,663 shares during the period. Foundations Investment Advisors LLC's holdings in Philip Morris International were worth $5,566,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Purkiss Capital Advisors LLC raised its stake in Philip Morris International by 22.5% during the first quarter. Purkiss Capital Advisors LLC now owns 2,471 shares of the company's stock worth $392,000 after acquiring an additional 454 shares in the last quarter. Norden Group LLC lifted its stake in Philip Morris International by 22.7% in the first quarter. Norden Group LLC now owns 51,234 shares of the company's stock valued at $8,132,000 after buying an additional 9,487 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Philip Morris International by 7.3% in the first quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company's stock worth $568,873,000 after purchasing an additional 242,799 shares in the last quarter. Atlas Legacy Advisors LLC acquired a new position in Philip Morris International during the first quarter worth $221,000. Finally, Vantage Financial Partners LLC bought a new position in Philip Morris International in the first quarter valued at $248,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PM shares. JPMorgan Chase & Co. boosted their price target on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Needham & Company LLC restated a "buy" rating and set a $195.00 price objective on shares of Philip Morris International in a research note on Wednesday, July 23rd. Stifel Nicolaus increased their price objective 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. Morgan Stanley restated an "overweight" rating and set a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Finally, Citigroup reiterated an "overweight" rating on shares of Philip Morris International in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $186.27.

Philip Morris International Stock Performance

NYSE:PM traded down $0.58 during mid-day trading on Wednesday, hitting $162.17. 7,776,219 shares of the stock were exchanged, compared to its average volume of 6,141,034. The firm's 50-day simple moving average is $178.32 and its 200 day simple moving average is $160.97. The stock has a market capitalization of $252.43 billion, a price-to-earnings ratio of 30.83, a price-to-earnings-growth ratio of 2.30 and a beta of 0.51. Philip Morris International Inc. has a fifty-two week low of $113.15 and a fifty-two week high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last announced its 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. Philip Morris International had a negative return on equity of 120.86% and a net margin of 10.57%. The business had revenue of $10.14 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same period last year, the company earned $1.59 EPS. Philip Morris International's revenue for the quarter was up 7.1% compared to the same quarter last year. On average, analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal 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 issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date was Friday, June 27th. Philip Morris International's payout ratio is 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.