Kingswood Wealth Advisors LLC Increases Stock Position in Philip Morris International Inc. (NYSE:PM)

Kingswood Wealth Advisors LLC raised its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 278.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,257 shares of the company's stock after buying an additional 18,583 shares during the period. Kingswood Wealth Advisors LLC's holdings in Philip Morris International were worth $4,000,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Lloyd Advisory Services LLC. raised its stake in Philip Morris International by 3.3% during the first quarter. Lloyd Advisory Services LLC. now owns 2,032 shares of the company's stock valued at $323,000 after purchasing an additional 64 shares in the last quarter. Omnia Family Wealth LLC raised its stake in Philip Morris International by 1.7% during the fourth quarter. Omnia Family Wealth LLC now owns 3,851 shares of the company's stock valued at $469,000 after purchasing an additional 65 shares in the last quarter. Wagner Wealth Management LLC raised its stake in Philip Morris International by 1.0% during the first quarter. Wagner Wealth Management LLC now owns 6,459 shares of the company's stock valued at $1,025,000 after purchasing an additional 67 shares in the last quarter. Sonora Investment Management Group LLC raised its stake in Philip Morris International by 0.6% during the first quarter. Sonora Investment Management Group LLC now owns 11,240 shares of the company's stock valued at $1,784,000 after purchasing an additional 68 shares in the last quarter. Finally, Essex Savings Bank raised its stake in Philip Morris International by 2.0% during the first quarter. Essex Savings Bank now owns 3,443 shares of the company's stock valued at $547,000 after purchasing an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PM. Argus upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. Morgan Stanley reiterated an "overweight" rating and set a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Bank of America boosted their price objective on shares of Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. UBS Group upgraded shares of Philip Morris International from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $130.00 to $170.00 in a research report on Friday, April 25th. Finally, Citigroup boosted their price objective on shares of Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $176.80.

Philip Morris International Stock Up 0.1%

Shares of Philip Morris International stock opened at $183.50 on Wednesday. The firm has a market capitalization of $285.63 billion, a P/E ratio of 37.84, a PEG ratio of 2.66 and a beta of 0.52. The company has a 50 day moving average price of $172.01 and a 200 day moving average price of $150.05. Philip Morris International Inc. has a 52 week low of $98.93 and a 52 week high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.08. The company had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.10 billion. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. Philip Morris International's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.50 EPS. As a group, research analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be paid a $1.35 dividend. The ex-dividend date is Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a yield of 2.94%. Philip Morris International's dividend payout ratio is currently 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.

Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.