Stonegate Investment Group LLC Increases Position in Philip Morris International Inc. (NYSE:PM)

Stonegate Investment Group LLC increased its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 41.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,250 shares of the company's stock after purchasing an additional 5,685 shares during the quarter. Stonegate Investment Group LLC's holdings in Philip Morris International were worth $3,056,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of PM. NewSquare Capital LLC raised its stake in shares of Philip Morris International by 53.7% during the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company's stock worth $25,000 after buying an additional 72 shares during the last quarter. Pacifica Partners Inc. increased its holdings in Philip Morris International by 115.0% during the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after acquiring an additional 115 shares in the last quarter. Knuff & Co LLC purchased a new position in Philip Morris International during the 4th quarter valued at about $36,000. Ball & Co Wealth Management Inc. purchased a new stake in shares of Philip Morris International in the fourth quarter valued at about $36,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Philip Morris International in the fourth quarter valued at approximately $36,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Stock Performance

Shares of PM opened at $182.57 on Friday. Philip Morris International Inc. has a fifty-two week low of $98.93 and a fifty-two week high of $186.69. The company has a market capitalization of $284.18 billion, a PE ratio of 37.64, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. The stock has a fifty day moving average of $173.82 and a two-hundred day moving average of $150.99.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.08. The business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.10 billion. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The business's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.50 earnings per share. As a group, equities research analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International's dividend payout ratio (DPR) is 111.34%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Bank of America raised their price objective on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Stifel Nicolaus increased their target price on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Needham & Company LLC assumed coverage on Philip Morris International in a report on Thursday, May 22nd. They issued a "buy" rating for the company. UBS Group raised Philip Morris International from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $130.00 to $170.00 in a report on Friday, April 25th. Finally, Barclays restated an "overweight" rating and issued a $220.00 price objective (up from $205.00) on shares of Philip Morris International in a research report on Friday, June 13th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $176.80.

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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