Philip Morris International Inc. (NYSE:PM) Shares Acquired by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC increased its stake in Philip Morris International by 2.4% during Q1, now holding over $168 million in shares.
• Philip Morris reported $1.91 earnings per share for the last quarter, which exceeded expectations, although its revenue of $10.14 billion fell short of forecasts.
• The company declared a quarterly dividend of $1.35 per share, resulting in a dividend yield of 3.2% with a payout ratio of 102.66%.

HighTower Advisors LLC raised its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,060,199 shares of the company's stock after purchasing an additional 25,184 shares during the period. HighTower Advisors LLC owned about 0.07% of Philip Morris International worth $168,285,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Pacifica Partners Inc. boosted its stake in shares of Philip Morris International by 115.0% in the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock worth $35,000 after acquiring an additional 115 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new stake in shares of Philip Morris International in the first quarter worth approximately $35,000. Inlight Wealth Management LLC acquired a new stake in shares of Philip Morris International in the first quarter worth approximately $38,000. Pandora Wealth Inc. acquired a new stake in shares of Philip Morris International in the first quarter worth approximately $42,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Philip Morris International in the fourth quarter worth approximately $36,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wall Street Zen lowered Philip Morris International from a "buy" rating to a "hold" rating in a research note on Saturday. KGI Securities assumed coverage on Philip Morris International in a research note on Monday, August 4th. They issued an "outperform" rating on the stock. UBS Group lifted their price target on Philip Morris International from $170.00 to $181.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. lifted their price target on Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, Barclays reduced their price objective on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $186.27.

Philip Morris International Price Performance

Shares of PM stock traded down $2.91 on Wednesday, hitting $165.69. The stock had a trading volume of 5,020,210 shares, compared to its average volume of 7,072,447. The firm has a market capitalization of $257.91 billion, a P/E ratio of 31.50, a P/E/G ratio of 2.45 and a beta of 0.48. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69. The company's 50 day moving average price is $175.47 and its 200-day moving average price is $164.05.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating 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 9.03%. The firm had revenue of $10.14 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter in the previous year, the business earned $1.59 EPS. The company's quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

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 dividend of $1.35 per share. The ex-dividend date was Friday, June 27th. This represents a $5.40 annualized dividend and a yield of 3.3%. Philip Morris International's dividend payout ratio is 102.66%.

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.