Philip Morris International Inc. (NYSE:PM) Holdings Boosted by Forvis Mazars Wealth Advisors LLC

Key Points

• Forvis Mazars Wealth Advisors LLC increased its stake in Philip Morris International Inc. by 48.3% during the first quarter, reaching a total of 12,401 shares valued at approximately $1.97 million.
• Analysts have issued mixed ratings on Philip Morris International, with two analysts rating the stock as "hold", while twelve have rated it as "buy" and a consensus price target set at $186.27.
• The company reported $1.91 earnings per share for its last quarter, surpassing analysts' expectations, but its quarterly revenue was below consensus estimates, at $10.14 billion.

Forvis Mazars Wealth Advisors LLC grew its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 48.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,401 shares of the company's stock after acquiring an additional 4,038 shares during the period. Forvis Mazars Wealth Advisors LLC's holdings in Philip Morris International were worth $1,968,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Linscomb Wealth Inc. boosted its holdings in Philip Morris International by 3.3% in the first quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company's stock worth $13,207,000 after purchasing an additional 2,669 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Philip Morris International by 7.3% in the first quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company's stock worth $568,873,000 after purchasing an additional 242,799 shares in the last quarter. 49 Wealth Management LLC boosted its holdings in Philip Morris International by 79.0% in the first quarter. 49 Wealth Management LLC now owns 5,334 shares of the company's stock worth $847,000 after purchasing an additional 2,354 shares in the last quarter. Cortland Associates Inc. MO boosted its holdings in Philip Morris International by 704.0% in the first quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company's stock worth $22,690,000 after purchasing an additional 125,171 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Philip Morris International by 24.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock worth $69,695,000 after purchasing an additional 87,631 shares in the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PM. Jefferies Financial Group began coverage on shares of Philip Morris International in a report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price objective for the company. Citigroup restated an "overweight" rating on shares of Philip Morris International in a report on Tuesday, July 22nd. KGI Securities began coverage on shares of Philip Morris International in a report on Monday, August 4th. They set an "outperform" rating for the company. UBS Group upped their price target on shares of Philip Morris International from $170.00 to $181.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Finally, Wall Street Zen cut shares of Philip Morris International from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $186.27.

Philip Morris International Stock Performance

NYSE PM opened at $166.19 on Friday. The firm has a 50-day simple moving average of $174.84 and a 200 day simple moving average of $164.79. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69. The stock has a market cap of $258.69 billion, a PE ratio of 31.60, a PEG ratio of 2.42 and a beta of 0.48.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 earnings per share for the quarter, beating 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 the consensus estimate of $10.33 billion. During the same period in the previous year, the business earned $1.59 earnings per share. The company's quarterly revenue was up 7.1% on a year-over-year basis. Research analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, June 27th. Philip Morris International's dividend payout ratio is currently 102.66%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.