Partnership Wealth Management LLC Invests $224,000 in Philip Morris International Inc. (NYSE:PM)

Partnership Wealth Management LLC purchased a new position in Philip Morris International Inc. (NYSE:PM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,412 shares of the company's stock, valued at approximately $224,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Silvia Mccoll Wealth Management LLC purchased a new stake in shares of Philip Morris International in the first quarter worth about $208,000. GAMMA Investing LLC increased its holdings in shares of Philip Morris International by 19,986.5% in the first quarter. GAMMA Investing LLC now owns 4,486,928 shares of the company's stock valued at $712,210,000 after purchasing an additional 4,464,590 shares during the last quarter. AdvisorNet Financial Inc increased its stake in Philip Morris International by 2.6% during the first quarter. AdvisorNet Financial Inc now owns 27,766 shares of the company's stock worth $4,407,000 after acquiring an additional 693 shares during the last quarter. Howard Financial Services LTD. increased its stake in Philip Morris International by 19.7% during the first quarter. Howard Financial Services LTD. now owns 4,566 shares of the company's stock worth $725,000 after acquiring an additional 753 shares during the last quarter. Finally, Exeter Financial LLC increased its stake in Philip Morris International by 1.3% during the first quarter. Exeter Financial LLC now owns 11,255 shares of the company's stock worth $1,787,000 after acquiring an additional 149 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Argus raised Philip Morris International from a "hold" rating to a "buy" rating in a report on Friday, March 14th. Stifel Nicolaus boosted their target price on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Wall Street Zen downgraded Philip Morris International from a "buy" rating to a "hold" rating in a report on Friday. Finally, Morgan Stanley reissued an "overweight" rating and issued a $182.00 target price (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, Philip Morris International currently has an average rating of "Moderate Buy" and a consensus target price of $169.20.

Philip Morris International Stock Up 1.6%

PM stock traded up $2.87 during trading on Friday, hitting $180.74. The company had a trading volume of 8,505,072 shares, compared to its average volume of 5,626,797. The firm has a market cap of $281.32 billion, a PE ratio of 40.08, a price-to-earnings-growth ratio of 2.65 and a beta of 0.50. Philip Morris International Inc. has a 1-year low of $98.93 and a 1-year high of $181.36. The firm has a 50-day moving average price of $165.26 and a 200-day moving average price of $145.77.

Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.08. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. The company had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $9.10 billion. During the same quarter in the previous year, the firm posted $1.50 EPS. The firm's quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts anticipate 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 was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.99%. The ex-dividend date was Thursday, March 20th. Philip Morris International's payout ratio is 111.34%.

Insiders Place Their Bets

In other Philip Morris International news, insider Lars Dahlgren sold 3,679 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $152.96, for a total transaction of $562,739.84. Following the transaction, the insider now owns 26,828 shares in the company, valued at approximately $4,103,610.88. The trade was a 12.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.13% of the stock is currently owned by insiders.

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.