Philip Morris International Inc. (NYSE:PM) Shares Acquired by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. boosted its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 31.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,219 shares of the company's stock after buying an additional 4,386 shares during the quarter. Confluence Wealth Services Inc.'s holdings in Philip Morris International were worth $3,063,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. 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. Brighton Jones LLC lifted its holdings in shares of Philip Morris International by 31.1% in the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock valued at $1,027,000 after purchasing an additional 2,023 shares in the last quarter. Symmetry Investments LP purchased a new stake in shares of Philip Morris International in 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 about $2,223,000. 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 Price Performance

NYSE:PM traded up $0.45 during trading hours on Friday, reaching $181.11. 7,043,892 shares of the company were exchanged, compared to its average volume of 5,615,608. The firm has a market cap of $281.90 billion, a price-to-earnings ratio of 37.34, a PEG ratio of 2.62 and a beta of 0.52. Philip Morris International Inc. has a 52-week low of $100.80 and a 52-week high of $186.69. The stock has a 50 day simple moving average of $175.96 and a 200 day simple moving average of $152.97.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share 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 net margin of 8.43% and a negative return on equity of 122.40%. Philip Morris International's revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.50 earnings per share. On average, analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International's dividend payout ratio is presently 111.34%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Stifel Nicolaus upped their price target on shares of Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Needham & Company LLC initiated coverage on shares of Philip Morris International in a research report on Thursday, May 22nd. They set a "buy" rating on the stock. Morgan Stanley restated an "overweight" rating and set a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Bank of America raised 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 report on Wednesday, June 4th. Finally, Argus upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, Philip Morris International has a consensus rating of "Moderate Buy" and an average target price of $176.80.

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.