Ballentine Partners LLC increased its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 8.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,538 shares of the company's stock after acquiring an additional 1,470 shares during the quarter. Ballentine Partners LLC's holdings in Philip Morris International were worth $2,943,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of PM. Pacifica Partners Inc. increased its stake in shares of Philip Morris International by 115.0% in the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after purchasing an additional 115 shares during the period. Redmont Wealth Advisors LLC acquired a new stake in shares of Philip Morris International in the first quarter valued at approximately $35,000. Inlight Wealth Management LLC acquired a new stake in shares of Philip Morris International in the first quarter valued at approximately $38,000. Ameriflex Group Inc. acquired a new stake in shares of Philip Morris International in the fourth quarter valued at approximately $36,000. Finally, Ball & Co Wealth Management Inc. acquired a new stake in shares of Philip Morris International in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 78.63% of the company's stock.
Philip Morris International Price Performance
Shares of NYSE PM traded down $1.26 during mid-day trading on Friday, reaching $179.73. 3,430,602 shares of the company traded hands, compared to its average volume of 5,643,398. Philip Morris International Inc. has a fifty-two week low of $104.84 and a fifty-two week high of $186.69. The firm has a market cap of $279.75 billion, a PE ratio of 37.06, a price-to-earnings-growth ratio of 2.61 and a beta of 0.51. The stock has a fifty day simple moving average of $178.05 and a 200-day simple moving average of $156.75.
Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly 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. The firm had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The firm's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.50 earnings per share. As a group, analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.
Philip Morris International Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be given a $1.35 dividend. The ex-dividend date is Friday, June 27th. This represents a $5.40 annualized dividend and a yield of 3.00%. Philip Morris International's dividend payout ratio (DPR) is 111.34%.
Analysts Set New Price Targets
PM has been the topic of several analyst reports. Jefferies Financial Group initiated coverage on shares of Philip Morris International in a research note on Wednesday. They issued a "buy" rating and a $220.00 price target on the stock. Bank of America raised their price target on shares of Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Needham & Company LLC initiated coverage on shares of Philip Morris International in a research note on Thursday, May 22nd. They issued a "buy" rating on the stock. UBS Group upgraded shares of Philip Morris International from a "sell" rating to a "neutral" rating and raised their price target for the company from $130.00 to $170.00 in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Philip Morris International currently has an average rating of "Moderate Buy" and an average target price of $185.73.
Get Our Latest Stock Analysis on PM
About Philip Morris International
(
Free Report)
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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