MBE Wealth Management LLC purchased a new position in Philip Morris International Inc. (NYSE:PM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,382 shares of the company's stock, valued at approximately $219,000.
A number of other institutional investors also recently added to or reduced their stakes in the company. NewSquare Capital LLC lifted its position in shares of Philip Morris International by 53.7% during the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company's stock worth $25,000 after buying an additional 72 shares during the last quarter. Pacifica Partners Inc. lifted its position in shares of Philip Morris International by 115.0% during the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock worth $35,000 after buying an additional 115 shares during the last quarter. Knuff & Co LLC acquired a new position in shares of Philip Morris International in the 4th quarter valued at $36,000. Ball & Co Wealth Management Inc. acquired a new position in shares of Philip Morris International in the 4th quarter valued at $36,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Philip Morris International in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 78.63% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on PM shares. Bank of America lifted their target price on shares of Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Argus raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a report on Friday, March 14th. Morgan Stanley reaffirmed an "overweight" rating and issued a $182.00 target price (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. 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 note on Wednesday, April 16th. Finally, UBS Group upgraded shares of Philip Morris International from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $130.00 to $170.00 in a research report on Friday, April 25th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $176.80.
Check Out Our Latest Report on Philip Morris International
Philip Morris International Price Performance
NYSE PM traded down $0.04 on Friday, hitting $182.57. 10,713,275 shares of the company's stock were exchanged, compared to its average volume of 5,631,735. The firm's 50-day moving average price is $173.82 and its two-hundred day moving average price is $151.27. Philip Morris International Inc. has a fifty-two week low of $99.86 and a fifty-two week high of $186.69. The firm has a market cap of $284.18 billion, a price-to-earnings ratio of 37.64, a P/E/G ratio of 2.66 and a beta of 0.52.
Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the previous year, the firm posted $1.50 EPS. The firm's quarterly revenue was up 5.8% on a year-over-year basis. On average, research analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.
Philip Morris International Dividend Announcement
The company also recently declared 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 2.96%. The ex-dividend date is Friday, June 27th. Philip Morris International's dividend payout ratio is currently 111.34%.
About Philip Morris International
(
Free Report)
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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