Sagespring Wealth Partners LLC Raises Stake in Philip Morris International Inc. (NYSE:PM)

Sagespring Wealth Partners LLC grew its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,110 shares of the company's stock after purchasing an additional 1,743 shares during the period. Sagespring Wealth Partners LLC's holdings in Philip Morris International were worth $8,906,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. NewSquare Capital LLC boosted its position in Philip Morris International by 53.7% in the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company's stock worth $25,000 after purchasing an additional 72 shares in the last quarter. Pacifica Partners Inc. raised its stake in shares of Philip Morris International by 115.0% during the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock worth $35,000 after buying an additional 115 shares during the period. Ameriflex Group Inc. acquired a new position in shares of Philip Morris International during the 4th quarter worth approximately $36,000. Knuff & Co LLC acquired a new position in shares of Philip Morris International during the 4th quarter worth approximately $36,000. Finally, Ball & Co Wealth Management Inc. acquired a new position in shares of Philip Morris International during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Stock Down 0.0%

Shares of PM opened at $184.01 on Monday. Philip Morris International Inc. has a 52-week low of $98.93 and a 52-week high of $185.55. The company has a market capitalization of $286.41 billion, a PE ratio of 40.80, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. The stock has a fifty day simple moving average of $170.67 and a two-hundred day simple moving average of $149.47.

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 analysts' consensus estimates 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 business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same period last year, the company earned $1.50 EPS. The company's revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be given 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 payout ratio is 111.34%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PM. Needham & Company LLC began coverage on Philip Morris International in a research note on Thursday, May 22nd. They set a "buy" rating for the company. 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. Morgan Stanley reaffirmed an "overweight" rating and set a $182.00 target price (up from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. JPMorgan Chase & Co. increased their price objective on Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Finally, Barclays increased 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. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Philip Morris International presently has a consensus rating of "Moderate Buy" and a consensus price target of $176.80.

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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