Ritholtz Wealth Management Acquires 7,603 Shares of Philip Morris International Inc. (NYSE:PM)

Ritholtz Wealth Management grew its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 14.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,487 shares of the company's stock after purchasing an additional 7,603 shares during the quarter. Ritholtz Wealth Management's holdings in Philip Morris International were worth $9,760,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NewSquare Capital LLC grew its holdings in Philip Morris International by 53.7% during the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company's stock worth $25,000 after purchasing an additional 72 shares during the period. Pacifica Partners Inc. boosted its stake in shares of Philip Morris International by 115.0% during the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock worth $35,000 after acquiring an additional 115 shares during the period. Knuff & Co LLC acquired a new position in shares of Philip Morris International during the 4th quarter worth approximately $36,000. Ball & Co Wealth Management Inc. acquired a new position in shares of Philip Morris International during the 4th quarter worth approximately $36,000. Finally, Ameriflex Group Inc. bought a new stake in Philip Morris International in the 4th quarter valued at $36,000. 78.63% of the stock is owned by institutional investors.

Philip Morris International Trading Down 0.3%

Philip Morris International stock traded down $0.57 during trading hours on Monday, reaching $183.76. 1,494,143 shares of the stock were exchanged, compared to its average volume of 6,062,718. Philip Morris International Inc. has a twelve month low of $98.93 and a twelve month high of $186.69. The company has a market cap of $286.03 billion, a P/E ratio of 40.76, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. The stock has a 50 day moving average of $170.67 and a two-hundred day moving average of $149.47.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same quarter in the previous year, the company posted $1.50 EPS. The business's revenue was up 5.8% on a year-over-year basis. On average, analysts expect 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 announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.94%. Philip Morris International's payout ratio is presently 111.34%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PM shares. JPMorgan Chase & Co. upped their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. Bank of America upped 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. Stifel Nicolaus raised their price objective on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Wall Street Zen downgraded Philip Morris International from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Needham & Company LLC started coverage on Philip Morris International in a report on Thursday, May 22nd. They set a "buy" rating for the company. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.