Savvy Advisors Inc. Buys 3,576 Shares of Philip Morris International Inc. (NYSE:PM)

Key Points

• Savvy Advisors Inc. increased its stake in Philip Morris International Inc. by 34.9%, acquiring an additional 3,576 shares, bringing its total holdings to 13,821 shares valued at $2,194,000.
• Institutional investors collectively own 78.63% of Philip Morris International's stock, with several firms, including Goldman Sachs and Vanguard Group, raising their positions in the company.
• Analysts have set varied price targets for Philip Morris International, with a consensus rating of "Moderate Buy" and an average target price of $186.27.

Savvy Advisors Inc. raised its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 34.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,821 shares of the company's stock after acquiring an additional 3,576 shares during the quarter. Savvy Advisors Inc.'s holdings in Philip Morris International were worth $2,194,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Philip Morris International by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 140,621,675 shares of the company's stock worth $22,320,878,000 after acquiring an additional 1,189,283 shares during the period. Capital World Investors lifted its position 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 worth $14,752,926,000 after acquiring an additional 4,216,586 shares during the period. Northern Trust Corp lifted its position in Philip Morris International by 11.0% during the 4th quarter. Northern Trust Corp now owns 13,630,177 shares of the company's stock worth $1,640,392,000 after acquiring an additional 1,347,503 shares during the period. Fayez Sarofim & Co lifted its position in Philip Morris International by 7.1% during the 4th quarter. Fayez Sarofim & Co now owns 10,313,383 shares of the company's stock worth $1,241,216,000 after acquiring an additional 685,431 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Philip Morris International by 57.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company's stock worth $1,554,686,000 after acquiring an additional 3,575,158 shares during the period. Institutional investors own 78.63% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on PM shares. Needham & Company LLC reaffirmed a "buy" rating and set a $195.00 price target on shares of Philip Morris International in a research report on Wednesday, July 23rd. Barclays reduced their price objective on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. JPMorgan Chase & Co. lifted their price objective on Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Citigroup reiterated an "overweight" rating on shares of Philip Morris International in a research note on Tuesday, July 22nd. Finally, Wall Street Zen upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research note on Sunday, July 20th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $186.27.

Philip Morris International Stock Up 0.7%

Shares of Philip Morris International stock opened at $168.12 on Friday. Philip Morris International Inc. has a twelve month low of $114.94 and a twelve month high of $186.69. The business has a 50-day moving average price of $176.50 and a 200 day moving average price of $162.84. The firm has a market cap of $261.70 billion, a PE ratio of 31.96, a P/E/G ratio of 2.43 and a beta of 0.48.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.05. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. The company had revenue of $10.14 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same period in the previous year, the firm posted $1.59 EPS. Philip Morris International's revenue was up 7.1% compared to the same quarter last year. On average, sell-side analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, June 27th. Philip Morris International's payout ratio is currently 102.66%.

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.

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