Philip Morris International Inc. (NYSE:PM) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 22.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 213,051 shares of the company's stock after purchasing an additional 38,526 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Philip Morris International were worth $33,057,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PM. Perigon Wealth Management LLC lifted its position in shares of Philip Morris International by 0.4% in the first quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company's stock valued at $2,236,000 after acquiring an additional 60 shares in the last quarter. Lloyd Advisory Services LLC. lifted its position in shares of Philip Morris International by 3.3% in the first quarter. Lloyd Advisory Services LLC. now owns 2,032 shares of the company's stock valued at $323,000 after acquiring an additional 64 shares in the last quarter. Western Wealth Management LLC lifted its position in shares of Philip Morris International by 1.5% in the first quarter. Western Wealth Management LLC now owns 4,446 shares of the company's stock valued at $706,000 after acquiring an additional 64 shares in the last quarter. Omnia Family Wealth LLC increased its stake in Philip Morris International by 1.7% in the fourth quarter. Omnia Family Wealth LLC now owns 3,851 shares of the company's stock valued at $469,000 after purchasing an additional 65 shares during the last quarter. Finally, Wagner Wealth Management LLC increased its stake in Philip Morris International by 1.0% in the first quarter. Wagner Wealth Management LLC now owns 6,459 shares of the company's stock valued at $1,025,000 after purchasing an additional 67 shares during the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on PM shares. Wall Street Zen upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Stifel Nicolaus upped 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 reiterated an "overweight" rating and issued a $182.00 target price (up from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Needham & Company LLC initiated coverage on Philip Morris International in a research note on Thursday, May 22nd. They set a "buy" rating for the company. Finally, UBS Group upgraded Philip Morris International from a "sell" rating to a "neutral" rating and upped their price target for the stock from $130.00 to $170.00 in a research note on Friday, April 25th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $176.80.

Philip Morris International Trading Up 0.2%

Shares of Philip Morris International stock opened at $181.11 on Friday. The business's 50 day simple moving average is $175.96 and its 200-day simple moving average is $152.97. The stock has a market capitalization 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 twelve month low of $100.80 and a twelve month high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, beating 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 firm had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $9.10 billion. During the same period last year, the firm earned $1.50 EPS. The firm's revenue was up 5.8% compared to the same quarter last year. Sell-side analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current 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 dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.98%. The ex-dividend date is Friday, June 27th. Philip Morris International's dividend payout ratio is 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.

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