Private Advisor Group LLC Acquires 1,420 Shares of Philip Morris International Inc. (NYSE:PM)

Private Advisor Group LLC increased its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 1.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 84,986 shares of the company's stock after acquiring an additional 1,420 shares during the period. Private Advisor Group LLC's holdings in Philip Morris International were worth $13,490,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. 49 Wealth Management LLC raised its stake in shares of Philip Morris International by 79.0% during the first quarter. 49 Wealth Management LLC now owns 5,334 shares of the company's stock valued at $847,000 after purchasing an additional 2,354 shares during the period. Cortland Associates Inc. MO raised its stake in shares of Philip Morris International by 704.0% during the first quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company's stock valued at $22,690,000 after purchasing an additional 125,171 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake 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 worth $69,695,000 after buying an additional 87,631 shares during the last quarter. Brighton Jones LLC increased its stake 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 worth $1,027,000 after buying an additional 2,023 shares during the last quarter. Finally, Symmetry Investments LP bought a new stake in shares of Philip Morris International in the fourth quarter worth $1,966,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Stock Performance

Shares of NYSE:PM traded down $1.51 on Wednesday, hitting $163.76. The stock had a trading volume of 3,463,400 shares, compared to its average volume of 6,041,125. The firm's 50 day moving average price is $178.83 and its 200-day moving average price is $159.09. Philip Morris International Inc. has a twelve month low of $109.37 and a twelve month high of $186.69. The company has a market capitalization of $254.90 billion, a price-to-earnings ratio of 33.79, a price-to-earnings-growth ratio of 2.59 and a beta of 0.51.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.05. The firm had revenue of $10.14 billion during the quarter, compared to analysts' expectations of $10.33 billion. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The company's quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.59 EPS. As a group, sell-side analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 annualized dividend and a dividend yield of 3.30%. Philip Morris International's payout ratio is currently 111.34%.

Analysts Set New Price Targets

PM has been the subject of several recent research reports. Barclays reiterated an "overweight" rating on shares of Philip Morris International in a research note on Tuesday. Morgan Stanley reaffirmed an "overweight" rating and issued a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Jefferies Financial Group assumed coverage on shares of Philip Morris International in a research report on Wednesday, July 9th. They set a "buy" rating and a $220.00 price objective for the company. Wall Street Zen upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Sunday. Finally, Bank of America upped their price objective on shares of Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $186.73.

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.