Philip Morris International Inc. (NYSE:PM) Shares Purchased by Argent Trust Co

Key Points

• Argent Trust Co increased its stake in Philip Morris International by 4.2% during the first quarter, owning 63,324 shares worth $10,051,000 after acquiring an additional 2,560 shares.
• Wall Street analysts have given Philip Morris International a majority "buy" rating, with an average target price of $186.27 after revisions from several firms.
• Philip Morris International recently announced a quarterly dividend of $1.35 per share, yielding 3.3%, despite having a high payout ratio of 102.66%.

Argent Trust Co increased its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 4.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,324 shares of the company's stock after acquiring an additional 2,560 shares during the quarter. Argent Trust Co's holdings in Philip Morris International were worth $10,051,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Pacifica Partners Inc. grew its position in 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 purchasing an additional 115 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new position in Philip Morris International during the 1st quarter worth $35,000. Ball & Co Wealth Management Inc. purchased a new position in Philip Morris International during the 4th quarter worth $36,000. Ameriflex Group Inc. purchased a new position in Philip Morris International during the 4th quarter worth $36,000. Finally, Inlight Wealth Management LLC purchased a new position in Philip Morris International during the 1st quarter worth $38,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PM has been the topic of several research reports. Wall Street Zen raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Sunday, July 20th. Needham & Company LLC reissued a "buy" rating and set a $195.00 price objective on shares of Philip Morris International in a research report on Wednesday, July 23rd. 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. Morgan Stanley reissued an "overweight" rating and set a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Finally, UBS Group lifted their target price on shares of Philip Morris International from $170.00 to $181.00 and gave the company a "neutral" rating in a report on Monday, July 14th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $186.27.

Philip Morris International Stock Down 0.7%

Shares of NYSE:PM opened at $162.96 on Friday. The company has a market cap of $253.66 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 2.37 and a beta of 0.49. Philip Morris International Inc. has a fifty-two week low of $113.15 and a fifty-two week high of $186.69. The firm's 50-day simple moving average is $177.55 and its 200-day simple moving average is $161.90.

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

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a yield of 3.3%. Philip Morris International's payout ratio is currently 102.66%.

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.

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