Jackson Wealth Management LLC Takes $513,000 Position in Philip Morris International Inc. (NYSE:PM)

Jackson Wealth Management LLC bought a new stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,235 shares of the company's stock, valued at approximately $513,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its holdings in Philip Morris International by 24.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock valued at $69,695,000 after acquiring an additional 87,631 shares during the last quarter. Brighton Jones LLC grew its holdings in Philip Morris International by 31.1% in the 4th 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 in the last quarter. Symmetry Investments LP acquired a new stake in shares of Philip Morris International in the 4th quarter worth $1,966,000. Worth Asset Management LLC acquired a new position in shares of Philip Morris International during the 1st quarter valued at about $2,223,000. Finally, Annex Advisory Services LLC increased its position in Philip Morris International by 46.6% during the first quarter. Annex Advisory Services LLC now owns 34,715 shares of the company's stock worth $5,510,000 after purchasing an additional 11,034 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. UBS Group upgraded shares of Philip Morris International from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $130.00 to $170.00 in a research note on Friday, April 25th. Argus raised Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. Morgan Stanley reiterated an "overweight" rating and issued a $182.00 price target (up previously from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Bank of America lifted their price target on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Finally, Barclays reaffirmed an "overweight" rating and issued a $220.00 price target (up from $205.00) on shares of Philip Morris International in a report on Friday, June 13th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $176.80.

Philip Morris International Stock Up 0.4%

Shares of NYSE PM traded up $0.74 during midday trading on Monday, hitting $179.62. The stock had a trading volume of 1,093,124 shares, compared to its average volume of 5,624,872. Philip Morris International Inc. has a 1-year low of $101.62 and a 1-year high of $186.69. The company has a fifty day moving average price of $177.14 and a 200 day moving average price of $155.03. The company has a market capitalization of $279.58 billion, a price-to-earnings ratio of 37.03, a PEG ratio of 2.59 and a beta of 0.51.

Philip Morris International (NYSE:PM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.08. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The business had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter last year, the firm posted $1.50 EPS. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Friday, June 27th. 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.