MGB Wealth Management LLC Makes New $1.42 Million Investment in Philip Morris International Inc. (NYSE:PM)

Key Points

• MGB Wealth Management LLC has made a new investment of approximately $1.42 million in Philip Morris International, purchasing 8,952 shares during the first quarter.
• In recent earnings results, Philip Morris International reported $1.91 earnings per share, exceeding the consensus estimate, and a revenue of $10.14 billion for the quarter.
• Analysts have given Philip Morris International a consensus rating of "Moderate Buy" with an average price target of $186.27 for its shares.

MGB Wealth Management LLC purchased a new position in Philip Morris International Inc. (NYSE:PM - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,952 shares of the company's stock, valued at approximately $1,421,000.

A number of other hedge funds also recently modified their holdings of PM. Perigon Wealth Management LLC grew its stake in Philip Morris International by 0.4% in the 1st quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company's stock valued at $2,236,000 after buying an additional 60 shares in the last quarter. TBH Global Asset Management LLC grew its stake in Philip Morris International by 0.9% in the 1st quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company's stock valued at $1,100,000 after buying an additional 61 shares in the last quarter. Capital Advisors Wealth Management LLC grew its stake in Philip Morris International by 2.1% in the 1st quarter. Capital Advisors Wealth Management LLC now owns 3,005 shares of the company's stock valued at $477,000 after buying an additional 63 shares in the last quarter. Renasant Bank grew its stake in Philip Morris International by 3.3% in the 1st quarter. Renasant Bank now owns 1,994 shares of the company's stock valued at $317,000 after buying an additional 63 shares in the last quarter. Finally, Lloyd Advisory Services LLC. grew its stake in Philip Morris International by 3.3% in the 1st quarter. Lloyd Advisory Services LLC. now owns 2,032 shares of the company's stock valued at $323,000 after buying an additional 64 shares in the last quarter. Institutional investors own 78.63% of the company's stock.

Wall Street Analyst Weigh In

PM has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Sunday, July 20th. Barclays reduced their price target on shares of Philip Morris International from $225.00 to $220.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Citigroup restated an "overweight" rating on shares of Philip Morris International in a research report on Tuesday, July 22nd. Jefferies Financial Group assumed coverage on shares of Philip Morris International in a research report on Wednesday, July 9th. They set a "buy" rating and a $220.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price target 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. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $186.27.

Philip Morris International Stock Up 0.6%

Philip Morris International stock opened at $163.92 on Wednesday. The company has a market capitalization of $255.15 billion, a PE ratio of 31.16, a P/E/G ratio of 2.37 and a beta of 0.48. The firm has a fifty day simple moving average of $176.93 and a two-hundred day simple moving average of $162.49. Philip Morris International Inc. has a twelve month low of $113.20 and a twelve month high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.05. The business had revenue of $10.14 billion during the quarter, compared to the consensus estimate of $10.33 billion. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The firm's revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.59 earnings per share. As a group, equities analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were paid a $1.35 dividend. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 annualized dividend and a yield of 3.3%. Philip Morris International's payout ratio is currently 102.66%.

Philip Morris International 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.

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