Philip Morris International Inc. (NYSE:PM) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. raised its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 2.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 234,880 shares of the company's stock after buying an additional 6,419 shares during the period. QRG Capital Management Inc.'s holdings in Philip Morris International were worth $37,282,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Capital & Planning LLC raised its stake in shares of Philip Morris International by 7.1% during the fourth quarter. Capital & Planning LLC now owns 2,613 shares of the company's stock valued at $318,000 after acquiring an additional 173 shares in the last quarter. Brighton Jones LLC raised its stake in shares of Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock valued at $1,027,000 after acquiring an additional 2,023 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Philip Morris International by 4.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company's stock valued at $252,000 after acquiring an additional 91 shares in the last quarter. V Square Quantitative Management LLC raised its stake in shares of Philip Morris International by 24.9% during the fourth quarter. V Square Quantitative Management LLC now owns 5,176 shares of the company's stock valued at $623,000 after acquiring an additional 1,032 shares in the last quarter. Finally, WASHINGTON TRUST Co raised its stake in shares of Philip Morris International by 4.0% during the fourth quarter. WASHINGTON TRUST Co now owns 7,479 shares of the company's stock valued at $900,000 after acquiring an additional 285 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Trading Up 0.1%

Shares of PM stock traded up $0.21 during trading hours on Tuesday, reaching $183.50. 7,427,845 shares of the company's stock were exchanged, compared to its average volume of 5,624,559. The stock's 50 day moving average is $171.37 and its 200-day moving average is $149.82. The company has a market cap of $285.63 billion, a price-to-earnings ratio of 37.84, a P/E/G ratio of 2.66 and a beta of 0.52. Philip Morris International Inc. has a fifty-two week low of $98.93 and a fifty-two week high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates 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 business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.50 earnings per share. Equities analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

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 issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International's payout ratio is 111.34%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PM. Barclays reaffirmed an "overweight" rating and set a $220.00 price target (up previously from $205.00) on shares of Philip Morris International in a research note on Friday. JPMorgan Chase & Co. boosted their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Citigroup boosted 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 note on Wednesday, April 16th. Morgan Stanley reissued an "overweight" rating and issued a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Finally, Bank of America boosted their price objective on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $176.80.

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.