Philip Morris International Inc. (NYSE:PM) Shares Acquired by Synergy Asset Management LLC

Synergy Asset Management LLC grew its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 148.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,224 shares of the company's stock after acquiring an additional 1,928 shares during the quarter. Synergy Asset Management LLC's holdings in Philip Morris International were worth $512,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PM. Brighton Jones LLC lifted its position in Philip Morris International by 31.1% during the 4th 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. Symmetry Investments LP purchased a new position in shares of Philip Morris International in the fourth quarter worth about $1,966,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Philip Morris International by 24.9% during 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 during the period. Worth Asset Management LLC purchased a new stake in Philip Morris International in the first quarter valued at approximately $2,223,000. Finally, Annex Advisory Services LLC boosted its position in Philip Morris International by 46.6% in the first quarter. Annex Advisory Services LLC now owns 34,715 shares of the company's stock valued at $5,510,000 after buying an additional 11,034 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Stock Down 0.0%

NYSE:PM opened at $182.57 on Friday. Philip Morris International Inc. has a 52 week low of $99.86 and a 52 week high of $186.69. The stock's 50-day moving average price is $173.82 and its 200-day moving average price is $151.14. The stock has a market capitalization of $284.18 billion, a PE ratio of 37.64, a price-to-earnings-growth ratio of 2.66 and a beta of 0.52.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.61 by $0.08. The company had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.10 billion. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. Philip Morris International's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.50 earnings per share. Sell-side analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be given a $1.35 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $5.40 annualized dividend and a dividend yield of 2.96%. Philip Morris International's dividend payout ratio (DPR) is 111.34%.

Analyst Ratings Changes

Several analysts have commented on the stock. Bank of America lifted their price objective 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. Citigroup boosted their target price on shares of Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, April 16th. Morgan Stanley reaffirmed an "overweight" rating and issued a $182.00 price target (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Argus upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. Finally, UBS Group raised Philip Morris International from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $130.00 to $170.00 in a report on Friday, April 25th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $176.80.

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.

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