GAMMA Investing LLC Increases Holdings in Philip Morris International Inc. (NYSE:PM)

GAMMA Investing LLC grew its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 26.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,268 shares of the company's stock after acquiring an additional 5,930 shares during the quarter. GAMMA Investing LLC's holdings in Philip Morris International were worth $4,487,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PM. Brighton Jones LLC increased its stake in shares of Philip Morris International by 31.1% in the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock valued at $1,027,000 after buying an additional 2,023 shares during the period. Symmetry Investments LP acquired a new stake in Philip Morris International in the fourth quarter valued at approximately $1,966,000. Worth Asset Management LLC acquired a new stake in Philip Morris International in the first quarter valued at approximately $2,223,000. Annex Advisory Services LLC grew its stake in Philip Morris International by 46.6% in the first quarter. Annex Advisory Services LLC now owns 34,715 shares of the company's stock valued at $5,510,000 after acquiring an additional 11,034 shares during the period. Finally, Farmers Trust Co. grew its stake in Philip Morris International by 21.1% in the first quarter. Farmers Trust Co. now owns 52,574 shares of the company's stock valued at $8,345,000 after acquiring an additional 9,162 shares during the period. Institutional investors and hedge funds own 78.63% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Stifel Nicolaus raised their target price on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Barclays restated an "overweight" rating and issued a $220.00 target price (up previously from $205.00) on shares of Philip Morris International in a report on Friday, June 13th. 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. Bank of America lifted 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. Finally, Argus upgraded Philip Morris International from a "hold" rating to a "buy" rating in a report on Friday, March 14th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $176.80.

Philip Morris International Price Performance

Shares of PM traded up $0.45 during mid-day trading on Friday, hitting $181.11. The stock had a trading volume of 7,043,892 shares, compared to its average volume of 5,615,608. The firm has a market cap of $281.90 billion, a P/E ratio of 37.34, a PEG ratio of 2.62 and a beta of 0.52. The business has a fifty day moving average price of $175.96 and a 200-day moving average price of $152.97. Philip Morris International Inc. has a 52 week low of $100.80 and a 52 week high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.08. The firm had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The business's revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.50 earnings per share. As a group, research analysts expect 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 declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International's dividend payout ratio (DPR) is presently 111.34%.

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.