JW Asset Management LLC Invests $1.64 Million in Philip Morris International Inc. (NYSE:PM)

Key Points

• JW Asset Management LLC has invested approximately $1.64 million in Philip Morris International, acquiring 10,350 shares which represent 0.9% of its total holdings.
• Philip Morris International reported $1.91 earnings per share (EPS) for the last quarter, exceeding analysts' estimates of $1.86, with a revenue of $10.14 billion.
• The company recently announced a quarterly dividend of $1.35 per share, resulting in a 3.3% dividend yield while noting a high payout ratio of 102.66%.

JW Asset Management LLC bought a new stake in Philip Morris International Inc. (NYSE:PM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,350 shares of the company's stock, valued at approximately $1,643,000. Philip Morris International comprises approximately 0.9% of JW Asset Management LLC's holdings, making the stock its 12th biggest holding.

Several other large investors have also recently bought and sold shares of PM. Perigon Wealth Management LLC grew its stake in Philip Morris International by 0.4% in the 1st quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company's stock worth $2,236,000 after acquiring an additional 60 shares during the period. TBH Global Asset Management LLC increased its stake in Philip Morris International by 0.9% during the 1st quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company's stock worth $1,100,000 after buying an additional 61 shares during the period. Capital Advisors Wealth Management LLC increased its position in shares of Philip Morris International by 2.1% in the 1st quarter. Capital Advisors Wealth Management LLC now owns 3,005 shares of the company's stock worth $477,000 after purchasing an additional 63 shares during the last quarter. Renasant Bank increased its position in shares of Philip Morris International by 3.3% in the 1st quarter. Renasant Bank now owns 1,994 shares of the company's stock worth $317,000 after purchasing an additional 63 shares during the last quarter. Finally, Lloyd Advisory Services LLC. grew its position in shares of Philip Morris International by 3.3% during the 1st quarter. Lloyd Advisory Services LLC. now owns 2,032 shares of the company's stock valued at $323,000 after buying an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Stock Performance

NYSE:PM opened at $163.92 on Wednesday. The firm has a market cap of $255.15 billion, a price-to-earnings ratio of 31.16, a P/E/G ratio of 2.37 and a beta of 0.48. Philip Morris International Inc. has a 52 week low of $113.20 and a 52 week high of $186.69. The firm's 50-day simple moving average is $176.93 and its 200 day simple moving average is $162.49.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.86 by $0.05. The firm had revenue of $10.14 billion for the quarter, compared to the consensus estimate of $10.33 billion. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The company's revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.59 EPS. Sell-side analysts anticipate 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. Stockholders 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 3.3%. Philip Morris International's dividend payout ratio is currently 102.66%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PM shares. Citigroup reiterated an "overweight" rating on shares of Philip Morris International in a report on Tuesday, July 22nd. Needham & Company LLC restated a "buy" rating and set a $195.00 price target on shares of Philip Morris International in a research note on Wednesday, July 23rd. KGI Securities started coverage on shares of Philip Morris International in a research note on Monday. They issued an "outperform" rating on the stock. Bank of America raised their price target on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. raised their price target on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $186.27.

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.

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