Independent Advisor Alliance Has $12.75 Million Stake in Philip Morris International Inc. (NYSE:PM)

Key Points

• Independent Advisor Alliance increased its stake in Philip Morris International Inc. by 4.9%, holding a total of 80,329 shares worth $12.75 million as of the end of the recent quarter.
• Institutional investors control 78.63% of Philip Morris' stock, with significant investments from firms like Nuveen LLC and Goldman Sachs Group Inc., showcasing strong interest in the company.
• Philip Morris International recently reported an EPS of $1.91, exceeding expectations, while announcing a quarterly dividend of $1.35, which equates to a 3.2% yield.

Independent Advisor Alliance boosted its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 4.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 80,329 shares of the company's stock after purchasing an additional 3,781 shares during the quarter. Independent Advisor Alliance's holdings in Philip Morris International were worth $12,751,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PM. Brighton Jones LLC grew its holdings in Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock valued at $1,027,000 after purchasing an additional 2,023 shares during the period. Revolve Wealth Partners LLC grew its holdings in Philip Morris International by 4.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company's stock valued at $252,000 after purchasing an additional 91 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Philip Morris International during the fourth quarter worth $15,513,000. LSV Asset Management lifted its holdings in shares of Philip Morris International by 41.7% in the fourth quarter. LSV Asset Management now owns 6,800 shares of the company's stock valued at $818,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of Philip Morris International by 4.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 217,903 shares of the company's stock valued at $26,196,000 after purchasing an additional 8,914 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PM shares. Morgan Stanley restated an "overweight" rating and set a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Citigroup reiterated an "overweight" rating on shares of Philip Morris International in a research note on Tuesday, July 22nd. UBS Group increased their price target on shares of Philip Morris International from $170.00 to $181.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Bank of America increased their price target on shares of 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, Wall Street Zen cut shares of Philip Morris International from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Philip Morris International has an average rating of "Moderate Buy" and an average target price of $186.27.

Philip Morris International Stock Up 0.4%

Shares of PM traded up $0.71 during trading hours on Friday, hitting $165.98. The company had a trading volume of 1,682,276 shares, compared to its average volume of 6,064,662. The firm has a market cap of $258.37 billion, a price-to-earnings ratio of 31.57, a PEG ratio of 2.41 and a beta of 0.48. The business has a fifty day moving average of $175.15 and a 200-day moving average of $164.30. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.86 by $0.05. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The business had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same period last year, the firm earned $1.59 earnings per share. Philip Morris International's revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently declared 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. This represents a $5.40 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International's dividend payout ratio (DPR) is currently 102.66%.

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.