Independent Wealth Network Inc. Buys Shares of 1,683 Philip Morris International Inc. (NYSE:PM)

Independent Wealth Network Inc. purchased a new position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,683 shares of the company's stock, valued at approximately $267,000.

A number of other hedge funds have also bought and sold shares of PM. GQG Partners LLC increased its position in Philip Morris International by 14.3% in the fourth quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock worth $5,866,678,000 after buying an additional 6,092,558 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Philip Morris International by 19,986.5% during the 1st quarter. GAMMA Investing LLC now owns 4,486,928 shares of the company's stock valued at $712,210,000 after buying an additional 4,464,590 shares during the period. Kovitz Investment Group Partners LLC raised its holdings in Philip Morris International by 372.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,453,285 shares of the company's stock valued at $656,303,000 after acquiring an additional 4,298,530 shares during the period. Capital World Investors boosted its position in shares of Philip Morris International by 3.6% during the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company's stock valued at $14,752,926,000 after buying an additional 4,216,586 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Philip Morris International by 9.9% in the 4th quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company's stock valued at $4,241,837,000 after acquiring an additional 3,185,258 shares during the period. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Performance

NYSE:PM traded down $0.42 during trading hours on Friday, reaching $178.75. The stock had a trading volume of 4,649,814 shares, compared to its average volume of 5,666,761. The stock has a market capitalization of $278.23 billion, a PE ratio of 36.86, a PEG ratio of 2.56 and a beta of 0.51. The company has a 50 day moving average price of $178.83 and a two-hundred day moving average price of $158.83. Philip Morris International Inc. has a 52 week low of $106.76 and a 52 week high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.08. The business had revenue of $9.30 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.50 earnings per share. Equities research analysts predict that Philip Morris International Inc. will post 7.14 EPS 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 paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date was Friday, June 27th. Philip Morris International's payout ratio is currently 111.34%.

Analyst Ratings Changes

PM has been the topic of several recent research reports. Morgan Stanley reaffirmed an "overweight" rating and issued a $182.00 price target (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Wall Street Zen raised Philip Morris International from a "hold" rating to a "buy" rating in a report on Sunday. Jefferies Financial Group began coverage on Philip Morris International in a research report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 target price on the stock. JPMorgan Chase & Co. boosted their price objective on Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Needham & Company LLC initiated coverage on Philip Morris International in a research report on Thursday, May 22nd. They set a "buy" rating on the stock. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $186.73.

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.