Philip Morris International Inc. (NYSE:PM) Shares Acquired by Tyler Stone Wealth Management

Key Points

• Tyler Stone Wealth Management increased its stake in Philip Morris International by 5.6%, owning 42,788 shares valued at approximately $6.79 million.
• Multiple hedge funds, including Raymond James and Forvis Mazars, have also boosted their holdings in Philip Morris International, reflecting strong institutional interest with 78.63% of its stock owned by institutional investors.
• The company reported earnings of $1.91 per share for the last quarter, surpassing estimates, although revenue was slightly below expectations at $10.14 billion.

Tyler Stone Wealth Management lifted its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 5.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 42,788 shares of the company's stock after acquiring an additional 2,260 shares during the quarter. Philip Morris International accounts for 1.2% of Tyler Stone Wealth Management's investment portfolio, making the stock its 18th largest position. Tyler Stone Wealth Management's holdings in Philip Morris International were worth $6,792,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. boosted its holdings in Philip Morris International by 2.1% during the 1st quarter. Raymond James Financial Inc. now owns 4,431,644 shares of the company's stock valued at $703,435,000 after acquiring an additional 92,513 shares during the period. Elevatus Welath Management lifted its position in shares of Philip Morris International by 32.4% during the first quarter. Elevatus Welath Management now owns 2,753 shares of the company's stock worth $437,000 after purchasing an additional 673 shares in the last quarter. Forvis Mazars Wealth Advisors LLC boosted its stake in shares of Philip Morris International by 48.3% in the first quarter. Forvis Mazars Wealth Advisors LLC now owns 12,401 shares of the company's stock valued at $1,968,000 after purchasing an additional 4,038 shares during the period. Boston Family Office LLC grew its holdings in shares of Philip Morris International by 10.0% in the first quarter. Boston Family Office LLC now owns 10,984 shares of the company's stock valued at $1,743,000 after purchasing an additional 1,000 shares in the last quarter. Finally, American Investment Services Inc. increased its stake in Philip Morris International by 1.1% during the 1st quarter. American Investment Services Inc. now owns 23,445 shares of the company's stock worth $3,721,000 after buying an additional 247 shares during the period. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $166.19 on Friday. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69. The firm has a market capitalization of $258.69 billion, a P/E ratio of 31.60, a P/E/G ratio of 2.40 and a beta of 0.48. The company's fifty day moving average price is $174.84 and its 200 day moving average price is $164.55.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.05. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. The company had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter last year, the company posted $1.59 earnings per share. The business's quarterly revenue was up 7.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 annualized dividend and a yield of 3.2%. Philip Morris International's payout ratio is 102.66%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PM. Jefferies Financial Group initiated coverage on Philip Morris International in a research note on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price objective on the stock. UBS Group increased their price target on Philip Morris International from $170.00 to $181.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Wall Street Zen cut Philip Morris International from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Bank of America upped their target price 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. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $186.27.

Philip Morris International Company 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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