Oppenheimer & Co. Inc. Purchases 3,919 Shares of Philip Morris International Inc. (NYSE:PM)

Oppenheimer & Co. Inc. grew its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 4.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,388 shares of the company's stock after buying an additional 3,919 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Philip Morris International were worth $13,712,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JFS Wealth Advisors LLC lifted its stake in Philip Morris International by 4.9% during the first quarter. JFS Wealth Advisors LLC now owns 4,761 shares of the company's stock worth $756,000 after purchasing an additional 223 shares during the last quarter. Spinnaker Investment Group LLC increased its stake in shares of Philip Morris International by 7.1% in the 1st quarter. Spinnaker Investment Group LLC now owns 2,139 shares of the company's stock valued at $340,000 after purchasing an additional 141 shares during the last quarter. M3 Advisory Group LLC bought a new position in shares of Philip Morris International in the 1st quarter valued at $245,000. TrueMark Investments LLC raised its holdings in shares of Philip Morris International by 31.5% during the 1st quarter. TrueMark Investments LLC now owns 66,089 shares of the company's stock worth $10,490,000 after buying an additional 15,826 shares in the last quarter. Finally, Ridgecrest Wealth Partners LLC lifted its position in shares of Philip Morris International by 4.3% during the 1st quarter. Ridgecrest Wealth Partners LLC now owns 4,851 shares of the company's stock worth $770,000 after buying an additional 200 shares during the last quarter. Institutional investors own 78.63% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PM. Stifel Nicolaus lifted their target price on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Wall Street Zen upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Saturday. Morgan Stanley reaffirmed an "overweight" rating and set a $182.00 price target (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Citigroup upped their price objective on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. Finally, Argus upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $176.80.

Philip Morris International Price Performance

NYSE:PM opened at $182.57 on Monday. Philip Morris International Inc. has a one year low of $99.86 and a one year high of $186.69. The company has a market cap of $284.18 billion, a PE ratio of 37.64, a P/E/G ratio of 2.66 and a beta of 0.52. The firm's 50 day simple moving average is $173.82 and its 200 day simple moving average is $151.27.

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

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.96%. The ex-dividend date is Friday, June 27th. Philip Morris International's payout ratio is presently 111.34%.

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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