Philip Morris International Inc. (NYSE:PM) Shares Bought by GLOBALT Investments LLC GA

Key Points

• GLOBALT Investments LLC increased its stake in Philip Morris International Inc. by 24.8% during the first quarter, owning a total of 30,143 shares valued at approximately $4.785 million.
• A variety of research firms have set new price targets for Philip Morris International, with Needham & Company and Jefferies Financial Group both issuing a "buy" rating, targeting prices of $195.00 and $220.00 respectively.
• Philip Morris International recently declared a quarterly dividend of $1.35, representing an annual yield of 3.36%, although its dividend payout ratio is notably high at 102.66%.

GLOBALT Investments LLC GA boosted its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 24.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,143 shares of the company's stock after acquiring an additional 5,993 shares during the quarter. GLOBALT Investments LLC GA's holdings in Philip Morris International were worth $4,785,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in PM. 49 Wealth Management LLC increased its position in shares of Philip Morris International by 79.0% during the first quarter. 49 Wealth Management LLC now owns 5,334 shares of the company's stock worth $847,000 after purchasing an additional 2,354 shares in the last quarter. Cortland Associates Inc. MO grew its stake in Philip Morris International by 704.0% during the 1st quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company's stock worth $22,690,000 after buying an additional 125,171 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Philip Morris International by 24.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock worth $69,695,000 after buying an additional 87,631 shares during the period. SpringVest Wealth Management LLC purchased a new stake in Philip Morris International in the first quarter valued at approximately $253,000. Finally, SFE Investment Counsel acquired a new stake in shares of Philip Morris International in the first quarter valued at approximately $327,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Trading Up 0.1%

Shares of NYSE:PM traded up $0.19 during midday trading on Wednesday, hitting $162.94. The stock had a trading volume of 3,538,028 shares, compared to its average volume of 6,110,008. The company has a market capitalization of $253.63 billion, a PE ratio of 30.98, a P/E/G ratio of 2.30 and a beta of 0.51. The stock has a 50 day moving average price of $178.32 and a two-hundred day moving average price of $160.97. Philip Morris International Inc. has a 1 year low of $113.15 and a 1 year high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.86 by $0.05. The firm had revenue of $10.14 billion for the quarter, compared to the consensus estimate of $10.33 billion. Philip Morris International had a net margin of 10.57% and a negative return on equity of 120.86%. The firm's revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.59 earnings per share. As a group, equities analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International's dividend payout ratio is currently 102.66%.

Wall Street Analysts Forecast Growth

PM has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $195.00 target price on shares of Philip Morris International in a report on Wednesday, July 23rd. Wall Street Zen upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Sunday, July 20th. Jefferies Financial Group assumed coverage on Philip Morris International in a research report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price target on the stock. Bank of America lifted their target price on Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Finally, Barclays cut their price target on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Philip Morris International currently has an average rating of "Moderate Buy" and a consensus price target of $186.27.

Philip Morris International 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.