Philip Morris International Inc. (NYSE:PM) Shares Bought by Tower View Wealth Management LLC

Tower View Wealth Management LLC raised its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 5,017.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,201 shares of the company's stock after acquiring an additional 25,689 shares during the period. Philip Morris International accounts for about 2.4% of Tower View Wealth Management LLC's investment portfolio, making the stock its 16th biggest holding. Tower View Wealth Management LLC's holdings in Philip Morris International were worth $4,159,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PM. Brighton Jones LLC boosted its position 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 worth $1,027,000 after buying an additional 2,023 shares during the period. Symmetry Investments LP purchased a new stake in Philip Morris International during the fourth quarter valued at about $1,966,000. Worth Asset Management LLC purchased a new stake in shares of Philip Morris International in the first quarter valued at $2,223,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Philip Morris International by 24.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock valued at $69,695,000 after purchasing an additional 87,631 shares in the last quarter. Finally, Annex Advisory Services LLC lifted its holdings in shares of 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 purchasing an additional 11,034 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Performance

NYSE PM opened at $182.57 on Friday. Philip Morris International Inc. has a twelve month low of $98.93 and a twelve month high of $186.69. The stock has a market capitalization of $284.18 billion, a PE ratio of 37.64, a P/E/G ratio of 2.65 and a beta of 0.52. The stock has a 50-day simple moving average of $173.82 and a 200 day simple moving average of $150.99.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share 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 business had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $9.10 billion. During the same quarter in the previous year, the firm earned $1.50 EPS. The firm's revenue was up 5.8% compared to the same quarter last year. As a group, equities research analysts forecast that Philip Morris International Inc. will post 7.14 EPS 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. Stockholders of record on Friday, June 27th will be issued a $1.35 dividend. The ex-dividend date is Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.96%. Philip Morris International's payout ratio is presently 111.34%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. UBS Group upgraded Philip Morris International from a "sell" rating to a "neutral" rating and increased their target price for the company from $130.00 to $170.00 in a report on Friday, April 25th. Stifel Nicolaus boosted their target price on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Morgan Stanley restated an "overweight" rating and issued a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a research note 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, Citigroup boosted their target price on Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price 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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