Ignite Planners LLC Acquires 1,945 Shares of Philip Morris International Inc. (NYSE:PM)

Ignite Planners LLC boosted its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 19.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,947 shares of the company's stock after purchasing an additional 1,945 shares during the period. Ignite Planners LLC's holdings in Philip Morris International were worth $2,032,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. 49 Wealth Management LLC increased its holdings in Philip Morris International by 79.0% in the 1st 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 increased its stake in shares of Philip Morris International by 704.0% in the first quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company's stock valued at $22,690,000 after buying an additional 125,171 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Philip Morris International by 24.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock valued at $69,695,000 after buying an additional 87,631 shares during the period. 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. Finally, Symmetry Investments LP acquired a new stake in shares of Philip Morris International in the fourth quarter valued at about $1,966,000. Institutional investors and hedge funds own 78.63% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on PM. Wall Street Zen raised Philip Morris International from a "hold" rating to a "buy" rating in a research note on Sunday. Citigroup reiterated an "overweight" rating on shares of Philip Morris International in a research report on Tuesday. Morgan Stanley reiterated an "overweight" rating and set a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. 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 report on Thursday, April 24th. Finally, Barclays reaffirmed an "overweight" rating on shares of Philip Morris International in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, Philip Morris International presently has a consensus rating of "Moderate Buy" and an average target price of $186.73.

Philip Morris International Stock Performance

Shares of Philip Morris International stock traded down $3.41 during trading hours on Thursday, reaching $161.26. The company's stock had a trading volume of 4,870,955 shares, compared to its average volume of 6,079,329. Philip Morris International Inc. has a one year low of $111.41 and a one year high of $186.69. The company has a market capitalization of $251.01 billion, a P/E ratio of 30.68, a P/E/G ratio of 2.37 and a beta of 0.51. The stock's fifty day simple moving average is $179.21 and its two-hundred day simple moving average is $159.59.

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

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were given a dividend of $1.35 per share. The ex-dividend date was Friday, June 27th. This represents a $5.40 annualized dividend and a dividend yield of 3.35%. Philip Morris International's payout ratio is 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.