Liberty Wealth Management LLC Increases Holdings in Philip Morris International Inc. (NYSE:PM)

Key Points

• Liberty Wealth Management LLC increased its holdings in Philip Morris International by 542.7% during the first quarter, owning a total of 14,737 shares valued at approximately $2,339,000.
• Philip Morris International reported quarterly earnings of $1.91 per share, exceeding analysts' expectations of $1.86, with a revenue of $10.14 billion for the quarter.
• The company has declared a quarterly dividend of $1.35 per share, with an annualized yield of 3.3% and a dividend payout ratio of 102.66%.

Liberty Wealth Management LLC grew its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 542.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,737 shares of the company's stock after buying an additional 12,444 shares during the quarter. Liberty Wealth Management LLC's holdings in Philip Morris International were worth $2,339,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in PM. Pacifica Partners Inc. raised its position in Philip Morris International by 115.0% in the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock worth $35,000 after purchasing an additional 115 shares during the period. Redmont Wealth Advisors LLC purchased a new stake in Philip Morris International in the 1st quarter worth about $35,000. Ball & Co Wealth Management Inc. purchased a new stake in Philip Morris International in the 4th quarter worth about $36,000. Ameriflex Group Inc. purchased a new stake in Philip Morris International in the 4th quarter worth about $36,000. Finally, Inlight Wealth Management LLC purchased a new stake in Philip Morris International in the 1st quarter worth about $38,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Stock Performance

NYSE PM opened at $162.96 on Monday. The firm's 50 day moving average price is $177.55 and its 200-day moving average price is $162.20. Philip Morris International Inc. has a 52-week low of $113.15 and a 52-week high of $186.69. The company has a market cap of $253.66 billion, a PE ratio of 30.98, a P/E/G ratio of 2.37 and a beta of 0.48.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.86 by $0.05. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The firm had revenue of $10.14 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same period last year, the firm earned $1.59 earnings per share. The company's quarterly revenue was up 7.1% on a year-over-year basis. On average, analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were paid a dividend of $1.35 per share. The ex-dividend date was Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.3%. Philip Morris International's dividend payout ratio (DPR) is currently 102.66%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PM shares. Citigroup reissued an "overweight" rating on shares of Philip Morris International in a research report on Tuesday, July 22nd. Wall Street Zen raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Sunday, July 20th. Jefferies Financial Group started coverage on shares of Philip Morris International in a research report on Wednesday, July 9th. They set a "buy" rating and a $220.00 target price on the stock. Stifel Nicolaus raised their target price 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, Bank of America raised their target price 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. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Philip Morris International currently has an average rating of "Moderate Buy" and an average target price of $186.27.

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.

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