Steward Partners Investment Advisory LLC Acquires 6,217 Shares of Philip Morris International Inc. $PM

Key Points

• Steward Partners Investment Advisory LLC increased its stake in Philip Morris International by 5.7% during Q1, acquiring an additional 6,217 shares, bringing its total holdings to 115,173 shares valued at approximately $18.28 million.
• Wall Street analysts show a consensus rating of "Moderate Buy" for Philip Morris International with a price target of $186.27, indicating positive expectations for the company's stock performance.
• The company has announced a quarterly dividend of $1.35 per share, yielding 3.2%, although its payout ratio stands at a high 102.66%, suggesting a focus on returning capital to shareholders despite challenges.

Steward Partners Investment Advisory LLC raised its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 5.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 115,173 shares of the company's stock after acquiring an additional 6,217 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in Philip Morris International were worth $18,281,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Perigon Wealth Management LLC grew its stake in shares of Philip Morris International by 0.4% in the first quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company's stock valued at $2,236,000 after buying an additional 60 shares in the last quarter. TBH Global Asset Management LLC grew its stake in shares of Philip Morris International by 0.9% in the first quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company's stock valued at $1,100,000 after buying an additional 61 shares in the last quarter. NFP Retirement Inc. grew its stake in shares of Philip Morris International by 2.5% in the first quarter. NFP Retirement Inc. now owns 2,589 shares of the company's stock valued at $411,000 after buying an additional 62 shares in the last quarter. Capital Advisors Wealth Management LLC grew its stake in shares of Philip Morris International by 2.1% in the first quarter. Capital Advisors Wealth Management LLC now owns 3,005 shares of the company's stock valued at $477,000 after buying an additional 63 shares in the last quarter. Finally, Renasant Bank grew its stake in shares of Philip Morris International by 3.3% in the first quarter. Renasant Bank now owns 1,994 shares of the company's stock valued at $317,000 after buying an additional 63 shares in the last quarter. 78.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PM shares. KGI Securities initiated coverage on shares of Philip Morris International in a research note on Monday, August 4th. They issued an "outperform" rating for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $195.00 price objective on shares of Philip Morris International in a research report on Wednesday, July 23rd. Morgan Stanley reaffirmed an "overweight" rating and set a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. UBS Group lifted their price objective on shares of Philip Morris International from $170.00 to $181.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Finally, Citigroup reaffirmed an "overweight" rating on shares of Philip Morris International in a research report on Tuesday, July 22nd. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Philip Morris International has an average rating of "Moderate Buy" and a consensus price target of $186.27.

Philip Morris International Stock Performance

PM opened at $166.19 on Monday. Philip Morris International Inc. has a fifty-two week low of $116.12 and a fifty-two week high of $186.69. The company has a market capitalization of $258.69 billion, a P/E ratio of 31.60, a P/E/G ratio of 2.42 and a beta of 0.48. The stock has a fifty day moving average of $174.84 and a 200-day moving average of $165.04.

Philip Morris International (NYSE:PM - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter last year, the firm earned $1.59 earnings per share. The company's revenue was up 7.1% on a year-over-year basis. On average, equities research analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

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

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.

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