Novem Group Purchases 2,506 Shares of Philip Morris International Inc. (NYSE:PM)

Novem Group increased its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 75.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,809 shares of the company's stock after acquiring an additional 2,506 shares during the quarter. Novem Group's holdings in Philip Morris International were worth $922,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Perigon Wealth Management LLC raised its position in shares of Philip Morris International by 0.4% in the 1st quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company's stock worth $2,236,000 after acquiring 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 first quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company's stock valued at $1,100,000 after purchasing an additional 61 shares during the last quarter. Capital Advisors Wealth Management LLC raised its holdings in Philip Morris International by 2.1% in the first quarter. Capital Advisors Wealth Management LLC now owns 3,005 shares of the company's stock worth $477,000 after purchasing an additional 63 shares in the last quarter. Lloyd Advisory Services LLC. lifted its position in shares of Philip Morris International by 3.3% during the first 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 during the last quarter. Finally, Western Wealth Management LLC lifted its position in shares of Philip Morris International by 1.5% during the first quarter. Western Wealth Management LLC now owns 4,446 shares of the company's stock valued at $706,000 after buying an additional 64 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PM has been the topic of a number of analyst reports. Bank of America lifted their price objective on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Barclays reaffirmed an "overweight" rating and issued a $220.00 price target (up from $205.00) on shares of Philip Morris International in a report on Friday, June 13th. Wall Street Zen upgraded Philip Morris International from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Argus raised Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $182.00 target price (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $176.80.

Philip Morris International Price Performance

Shares of PM stock opened at $179.00 on Friday. The business has a fifty day moving average of $176.97 and a 200 day moving average of $154.23. Philip Morris International Inc. has a 1 year low of $100.80 and a 1 year high of $186.69. The firm has a market capitalization of $278.62 billion, a price-to-earnings ratio of 36.91, a price-to-earnings-growth ratio of 2.55 and a beta of 0.51.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same period in the prior year, the company earned $1.50 earnings per share. The company's revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International's payout ratio is 111.34%.

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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