Lafayette Investments Inc. Acquires Shares of 1,445 Philip Morris International Inc. (NYSE:PM)

Lafayette Investments Inc. purchased a new position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,445 shares of the company's stock, valued at approximately $229,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NewSquare Capital LLC boosted its holdings in Philip Morris International by 53.7% in the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company's stock valued at $25,000 after acquiring an additional 72 shares during the last quarter. Pacifica Partners Inc. boosted its holdings in Philip Morris International by 115.0% in the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after acquiring an additional 115 shares during the last quarter. Knuff & Co LLC bought a new stake in Philip Morris International in the fourth quarter valued at approximately $36,000. Ball & Co Wealth Management Inc. bought a new stake in Philip Morris International in the fourth quarter valued at approximately $36,000. Finally, Ameriflex Group Inc. bought a new stake in Philip Morris International in the fourth quarter valued at approximately $36,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Trading Up 0.2%

Shares of PM traded up $0.45 during trading hours on Friday, reaching $181.11. The stock had a trading volume of 7,043,892 shares, compared to its average volume of 5,615,608. Philip Morris International Inc. has a 12 month low of $100.80 and a 12 month high of $186.69. The firm has a 50-day simple moving average of $175.96 and a 200 day simple moving average of $152.97. The company has a market capitalization of $281.90 billion, a price-to-earnings ratio of 37.34, a P/E/G ratio of 2.62 and a beta of 0.52.

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

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Friday, June 27th. Philip Morris International's dividend payout ratio is currently 111.34%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PM. Needham & Company LLC began coverage on shares of Philip Morris International in a research report on Thursday, May 22nd. They set a "buy" rating for the company. Bank of America raised their price objective 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. Wall Street Zen raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Stifel Nicolaus raised their price objective on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Finally, UBS Group raised shares of Philip Morris International from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $130.00 to $170.00 in a research report on Friday, April 25th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $176.80.

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.