Money Concepts Capital Corp Purchases New Shares in Philip Morris International Inc. (NYSE:PM)

Money Concepts Capital Corp purchased a new stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,706 shares of the company's stock, valued at approximately $271,000.

Other hedge funds also recently bought and sold shares of the company. Perigon Wealth Management LLC boosted its stake in Philip Morris International by 0.4% during the 1st quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company's stock worth $2,236,000 after purchasing an additional 60 shares during the last quarter. Lloyd Advisory Services LLC. boosted its position in shares of Philip Morris International by 3.3% during the 1st quarter. Lloyd Advisory Services LLC. now owns 2,032 shares of the company's stock valued at $323,000 after acquiring an additional 64 shares during the last quarter. Western Wealth Management LLC boosted its position in shares of Philip Morris International by 1.5% during the 1st quarter. Western Wealth Management LLC now owns 4,446 shares of the company's stock valued at $706,000 after acquiring an additional 64 shares during the last quarter. Omnia Family Wealth LLC lifted its position in Philip Morris International by 1.7% in the fourth quarter. Omnia Family Wealth LLC now owns 3,851 shares of the company's stock valued at $469,000 after buying an additional 65 shares during the last quarter. Finally, Wagner Wealth Management LLC lifted its position in Philip Morris International by 1.0% in the first quarter. Wagner Wealth Management LLC now owns 6,459 shares of the company's stock valued at $1,025,000 after buying an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Trading Up 0.2%

PM stock opened at $181.11 on Friday. Philip Morris International Inc. has a twelve month low of $100.80 and a twelve month high of $186.69. The company's 50 day moving average is $175.96 and its two-hundred day moving average is $152.97. The stock has a market cap of $281.90 billion, a P/E ratio of 37.34, a PEG ratio of 2.62 and a beta of 0.52.

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

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be given a dividend of $1.35 per share. The ex-dividend date is Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.98%. Philip Morris International's dividend payout ratio (DPR) is presently 111.34%.

Analysts Set New Price Targets

Several analysts recently weighed in on PM shares. Morgan Stanley reaffirmed an "overweight" rating and issued a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Needham & Company LLC started coverage on shares of Philip Morris International in a report on Thursday, May 22nd. They issued a "buy" rating on the stock. Stifel Nicolaus raised their target price on shares of Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Argus raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a report on Friday, March 14th. Finally, Citigroup raised their target price on shares of Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, April 16th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $176.80.

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.

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