Allworth Financial LP Buys 30,510 Shares of Philip Morris International Inc. (NYSE:PM)

Allworth Financial LP lifted its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 42.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 102,912 shares of the company's stock after acquiring an additional 30,510 shares during the quarter. Allworth Financial LP's holdings in Philip Morris International were worth $17,502,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PM. Brighton Jones LLC boosted its holdings in shares of Philip Morris International by 31.1% in the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock worth $1,027,000 after acquiring an additional 2,023 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of Philip Morris International by 4.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company's stock worth $252,000 after acquiring an additional 91 shares during the period. Proficio Capital Partners LLC boosted its holdings in shares of Philip Morris International by 60.4% in the fourth quarter. Proficio Capital Partners LLC now owns 3,863 shares of the company's stock worth $465,000 after acquiring an additional 1,455 shares during the period. Amundi boosted its holdings in shares of Philip Morris International by 1.3% in the fourth quarter. Amundi now owns 613,683 shares of the company's stock worth $74,783,000 after acquiring an additional 7,893 shares during the period. Finally, Davis R M Inc. boosted its holdings in shares of Philip Morris International by 19.4% in the fourth quarter. Davis R M Inc. now owns 6,575 shares of the company's stock worth $791,000 after acquiring an additional 1,068 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PM. Citigroup raised their price target on Philip Morris International from $188.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday. Bank of America lifted their price objective on 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 Philip Morris International in a research note on Thursday, May 22nd. They set a "buy" rating for the company. Jefferies Financial Group initiated coverage on Philip Morris International in a research note on Wednesday. They set a "buy" rating and a $220.00 price objective for the company. Finally, Morgan Stanley reissued an "overweight" rating and set a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Philip Morris International has a consensus rating of "Moderate Buy" and an average target price of $185.73.

Philip Morris International Stock Down 0.7%

Shares of PM traded down $1.26 during trading hours on Friday, hitting $179.73. The company had a trading volume of 3,430,602 shares, compared to its average volume of 5,643,398. The firm has a market cap of $279.75 billion, a P/E ratio of 37.06, a P/E/G ratio of 2.60 and a beta of 0.51. The stock's 50 day moving average price is $178.05 and its 200 day moving average price is $157.00. Philip Morris International Inc. has a 52-week low of $104.84 and a 52-week high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter in the previous year, the business earned $1.50 earnings per share. The company's quarterly revenue was up 5.8% on a year-over-year basis. On average, research analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be paid a dividend of $1.35 per share. The ex-dividend date is Friday, June 27th. This represents a $5.40 annualized dividend and a dividend yield of 3.00%. Philip Morris International's dividend payout ratio (DPR) 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.