Commonwealth Equity Services LLC Buys 41,723 Shares of Philip Morris International Inc. (NYSE:PM)

Key Points

• Commonwealth Equity Services LLC increased its stake in Philip Morris International by 7.4%, holding a total of 602,851 shares valued at approximately $95.7 million.
• Philip Morris reported earnings per share of $1.91 for the last quarter, exceeding estimates, but its revenue of $10.14 billion fell short of expectations.
• The company recently declared a quarterly dividend of $1.35 per share, resulting in a dividend yield of 3.3% with a payout ratio of 102.66%.

Commonwealth Equity Services LLC grew its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 7.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 602,851 shares of the company's stock after purchasing an additional 41,723 shares during the quarter. Commonwealth Equity Services LLC's holdings in Philip Morris International were worth $95,691,000 at the end of the most recent reporting period.

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

Philip Morris International Trading Up 1.7%

NYSE PM traded up $2.86 on Wednesday, hitting $167.00. 5,915,141 shares of the company were exchanged, compared to its average volume of 6,993,771. The firm has a 50 day moving average of $176.93 and a two-hundred day moving average of $162.49. The company has a market cap of $259.96 billion, a P/E ratio of 31.75, a P/E/G ratio of 2.39 and a beta of 0.48. Philip Morris International Inc. has a 1-year low of $114.20 and a 1-year high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $10.14 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter in the prior year, the firm posted $1.59 EPS. The business's revenue was up 7.1% on a year-over-year basis. Research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

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

Analyst Ratings Changes

Several research firms have recently weighed in on PM. UBS Group increased their price target on shares of Philip Morris International from $170.00 to $181.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Barclays decreased their price target on shares of Philip Morris International from $225.00 to $220.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Citigroup reaffirmed an "overweight" rating on shares of Philip Morris International in a research report on Tuesday, July 22nd. Needham & Company LLC reaffirmed a "buy" rating and set a $195.00 price objective on shares of Philip Morris International in a research report on Wednesday, July 23rd. Finally, Jefferies Financial Group started coverage on Philip Morris International in a report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price objective for the company. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $186.27.

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.