Bar Harbor Wealth Management Acquires 1,550 Shares of Philip Morris International Inc. (NYSE:PM)

Bar Harbor Wealth Management raised its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 21.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,859 shares of the company's stock after purchasing an additional 1,550 shares during the period. Bar Harbor Wealth Management's holdings in Philip Morris International were worth $1,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of PM. Capital & Planning LLC grew its stake in Philip Morris International by 7.1% in the 4th quarter. Capital & Planning LLC now owns 2,613 shares of the company's stock valued at $318,000 after acquiring an additional 173 shares during the period. Brighton Jones LLC grew its stake in Philip Morris International by 31.1% during the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock worth $1,027,000 after purchasing an additional 2,023 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of Philip Morris International by 4.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company's stock worth $252,000 after acquiring an additional 91 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Philip Morris International by 68.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 380,783 shares of the company's stock valued at $46,113,000 after acquiring an additional 154,206 shares during the period. Finally, Asset Management One Co. Ltd. raised its position in Philip Morris International by 9.0% during the 4th quarter. Asset Management One Co. Ltd. now owns 858,383 shares of the company's stock worth $104,238,000 after buying an additional 71,181 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Morgan Stanley reiterated an "overweight" rating and issued a $182.00 price target (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Citigroup increased their price target on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, April 16th. Barclays increased their target price on shares of Philip Morris International from $205.00 to $220.00 and gave the stock an "overweight" rating in a research report on Friday. UBS Group raised shares of Philip Morris International from a "sell" rating to a "neutral" rating and raised their target price for the company from $130.00 to $170.00 in a research note on Friday, April 25th. Finally, Stifel Nicolaus upped their price target on Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $176.80.

Philip Morris International Stock Performance

Philip Morris International stock traded down $0.09 during trading hours on Friday, reaching $184.01. 5,500,599 shares of the company's stock traded hands, compared to its average volume of 5,616,010. Philip Morris International Inc. has a fifty-two week low of $98.93 and a fifty-two week high of $185.16. The firm has a market capitalization of $286.41 billion, a price-to-earnings ratio of 40.80, a PEG ratio of 2.65 and a beta of 0.52. The firm's 50 day moving average is $170.67 and its 200-day moving average is $149.22.

Philip Morris International (NYSE:PM - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.08. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. The firm had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same period in the previous year, the company posted $1.50 earnings per share. The company's revenue for the quarter was up 5.8% on a year-over-year basis. Analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders 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 yield of 2.93%. Philip Morris International's dividend payout ratio is currently 111.34%.

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.