Dakota Wealth Management Buys 21,859 Shares of Philip Morris International Inc. (NYSE:PM)

Dakota Wealth Management lifted its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 93.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,313 shares of the company's stock after purchasing an additional 21,859 shares during the quarter. Dakota Wealth Management's holdings in Philip Morris International were worth $7,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of PM. Pacifica Partners Inc. lifted its holdings in Philip Morris International by 115.0% in the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after acquiring an additional 115 shares during the period. Redmont Wealth Advisors LLC bought a new position in Philip Morris International in the first quarter valued at about $35,000. Ball & Co Wealth Management Inc. bought a new position in Philip Morris International in the fourth quarter valued at about $36,000. Ameriflex Group Inc. bought a new position in Philip Morris International in the fourth quarter valued at about $36,000. Finally, Inlight Wealth Management LLC bought a new position in shares of Philip Morris International in the first quarter worth about $38,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

PM has been the topic of several recent research reports. Bank of America raised their price objective on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Citigroup increased their price objective on shares of Philip Morris International from $188.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Wall Street Zen lowered shares of Philip Morris International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. JPMorgan Chase & Co. increased their price objective on shares of Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Finally, Barclays raised their price target on Philip Morris International from $220.00 to $225.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $186.73.

Philip Morris International Stock Down 2.5%

PM traded down $4.62 during trading hours on Thursday, reaching $178.65. 2,576,080 shares of the company's stock traded hands, compared to its average volume of 5,645,126. The firm has a 50-day moving average price of $178.49 and a 200 day moving average price of $157.75. Philip Morris International Inc. has a 52-week low of $106.35 and a 52-week high of $186.69. The firm has a market capitalization of $278.07 billion, a PE ratio of 36.81, a PEG ratio of 2.59 and a beta of 0.51.

Philip Morris International (NYSE:PM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates of $1.61 by $0.08. The business had revenue of $9.30 billion during the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. Philip Morris International's revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.50 EPS. Equities analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently announced 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. This represents a $5.40 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International's dividend payout ratio (DPR) is presently 111.34%.

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.