North Star Asset Management Inc. Increases Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Key Points

• North Star Asset Management Inc. increased its stake in Philip Morris International Inc. by 16.7% in the first quarter, owning a total of 57,775 shares valued at approximately $9.17 million.
• Philip Morris International recently reported $1.91 EPS for the quarter, surpassing estimates and achieving a revenue of $10.14 billion, although slightly below analyst expectations.
• The company declared a quarterly dividend of $1.35 per share, representing an annualized dividend of $5.40 and a yield of 3.32%, with a payout ratio of 102.66%.

North Star Asset Management Inc. increased its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 16.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,775 shares of the company's stock after purchasing an additional 8,282 shares during the period. North Star Asset Management Inc.'s holdings in Philip Morris International were worth $9,171,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Pacifica Partners Inc. boosted its holdings in shares of Philip Morris International by 115.0% during the first 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 first quarter worth $35,000. Ball & Co Wealth Management Inc. bought a new stake in Philip Morris International in the fourth quarter valued at $36,000. Ameriflex Group Inc. bought a new position in Philip Morris International in the 4th quarter worth $36,000. Finally, Inlight Wealth Management LLC purchased a new stake in shares of Philip Morris International in the 1st quarter worth about $38,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Trading Up 1.6%

PM stock traded up $2.70 during trading on Friday, reaching $166.75. The stock had a trading volume of 782,875 shares, compared to its average volume of 6,130,603. The stock's 50 day moving average is $177.85 and its two-hundred day moving average is $161.30. The firm has a market cap of $259.55 billion, a PE ratio of 31.55, a PEG ratio of 2.36 and a beta of 0.51. Philip Morris International Inc. has a 52 week low of $113.15 and a 52 week high of $186.69.

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

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International's dividend payout ratio (DPR) is presently 102.66%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. UBS Group increased their price objective on Philip Morris International from $170.00 to $181.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Needham & Company LLC reissued a "buy" rating and issued a $195.00 target price on shares of Philip Morris International in a research note on Wednesday, July 23rd. Stifel Nicolaus lifted their price target on 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 cut their price objective on shares of Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, Jefferies Financial Group started coverage on shares of Philip Morris International in a report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 target price for the company. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, Philip Morris International has a consensus rating of "Moderate Buy" and a consensus 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.