NorthCrest Asset Manangement LLC Increases Stock Position in Philip Morris International Inc. (NYSE:PM)

NorthCrest Asset Manangement LLC increased its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 16.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 25,290 shares of the company's stock after acquiring an additional 3,572 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Philip Morris International were worth $4,014,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Philip Morris International by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 139,432,392 shares of the company's stock valued at $16,780,688,000 after buying an additional 1,167,810 shares in the last quarter. Capital World Investors raised its holdings in Philip Morris International by 3.6% during the 4th quarter. Capital World Investors now owns 122,584,210 shares of the company's stock valued at $14,752,926,000 after acquiring an additional 4,216,586 shares during the period. GQG Partners LLC raised its holdings in Philip Morris International by 14.3% during the 4th quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock valued at $5,866,678,000 after acquiring an additional 6,092,558 shares during the period. Geode Capital Management LLC lifted its position in shares of Philip Morris International by 9.9% during the fourth quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company's stock worth $4,241,837,000 after acquiring an additional 3,185,258 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Philip Morris International by 3.1% in the fourth quarter. Wellington Management Group LLP now owns 17,276,790 shares of the company's stock worth $2,079,262,000 after acquiring an additional 516,617 shares during the period. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Trading Down 0.0%

Shares of PM traded down $0.09 during midday trading on Friday, reaching $184.01. The stock had a trading volume of 5,500,599 shares, compared to its average volume of 5,616,010. The company has a market capitalization of $286.41 billion, a price-to-earnings ratio of 40.80, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. The company's 50-day moving average is $170.67 and its 200 day moving average is $149.22. Philip Morris International Inc. has a 12-month low of $98.93 and a 12-month high of $185.16.

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 (EPS) for the quarter, topping the consensus estimate 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 120.08% and a net margin of 7.89%. Philip Morris International's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.50 earnings per share. Research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.93%. Philip Morris International's dividend payout ratio (DPR) is currently 111.34%.

Analyst Ratings Changes

Several brokerages recently commented on PM. Bank of America upped their target price on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. UBS Group upgraded shares of Philip Morris International from a "sell" rating to a "neutral" rating and boosted their price target for the company from $130.00 to $170.00 in a research report on Friday, April 25th. JPMorgan Chase & Co. increased their price objective on Philip Morris International from $145.00 to $160.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Barclays lifted their price objective on Philip Morris International from $205.00 to $220.00 and gave the company an "overweight" rating in a research note on Friday. Finally, Citigroup upped their target price on Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, Philip Morris International presently has a consensus rating of "Moderate Buy" and an average target price of $176.80.

Philip Morris International Company 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.