Philip Morris International Inc. (NYSE:PM) Shares Bought by Metis Global Partners LLC

Key Points

• Metis Global Partners LLC increased its stake in Philip Morris International by 11.3%, acquiring 6,598 shares to reach a total of 64,840 shares valued at approximately $10.29 million.
• Several institutional investors also raised their positions in Philip Morris, with Brighton Jones LLC and American Century Companies Inc. increasing their holdings by 31.1% and 37.4%, respectively, reflecting strong institutional interest in the company.
• Philip Morris reported a quarterly EPS of $1.91, beating estimates, and declared a dividend of $1.35, marking an annualized yield of 3.36%, although it faces a high payout ratio of 102.66%.

Metis Global Partners LLC raised its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 11.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,840 shares of the company's stock after purchasing an additional 6,598 shares during the quarter. Metis Global Partners LLC's holdings in Philip Morris International were worth $10,292,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in PM. Pacifica Partners Inc. lifted its stake in shares of Philip Morris International by 115.0% in the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after purchasing an additional 115 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new position in Philip Morris International in the first quarter valued at about $35,000. Inlight Wealth Management LLC acquired a new position in Philip Morris International in the first quarter valued at about $38,000. Ameriflex Group Inc. bought a new position in shares of Philip Morris International in the fourth quarter worth about $36,000. Finally, Hughes Financial Services LLC bought a new stake in shares of Philip Morris International during the first quarter worth approximately $46,000. Institutional investors and hedge funds own 78.63% of the company's stock.

Philip Morris International Stock Performance

PM stock traded up $2.73 during trading on Thursday, reaching $164.90. 3,581,644 shares of the company traded hands, compared to its average volume of 6,121,730. The company has a market capitalization of $256.68 billion, a price-to-earnings ratio of 31.30, a price-to-earnings-growth ratio of 2.37 and a beta of 0.51. The business has a 50 day simple moving average of $178.07 and a 200 day simple moving average of $160.97. Philip Morris International Inc. has a 12 month low of $113.15 and a 12 month high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, beating analysts' consensus estimates of $1.86 by $0.05. The business had revenue of $10.14 billion during the quarter, compared to analysts' expectations of $10.33 billion. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. The business's revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.59 earnings per share. As a group, research 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 declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International's payout ratio is 102.66%.

Wall Street Analyst Weigh In

PM has been the subject of a number of analyst reports. UBS Group boosted their price objective on shares of Philip Morris International from $170.00 to $181.00 and gave the company a "neutral" rating in a report on Monday, July 14th. JPMorgan Chase & Co. increased their price objective on shares of Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Stifel Nicolaus raised their price target 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. Barclays decreased their target price on shares of Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a report on Wednesday. Finally, Needham & Company LLC restated a "buy" rating and issued a $195.00 price target on shares of Philip Morris International in a research note on Wednesday, July 23rd. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Philip Morris International presently has an average rating of "Moderate Buy" and a consensus target price of $186.27.

Philip Morris International Company 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.