TriaGen Wealth Management LLC Takes $308,000 Position in Philip Morris International Inc. (NYSE:PM)

Key Points

• TriaGen Wealth Management LLC has acquired a new position in Philip Morris International Inc. worth approximately $308,000 by purchasing 1,942 shares.
• Philip Morris International reported earnings of $1.91 per share, exceeding analysts' expectations, despite a revenue decline compared to estimates.
• The company recently announced a quarterly dividend of $1.35 per share, maintaining a high payout ratio of 102.66%.

TriaGen Wealth Management LLC purchased a new stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,942 shares of the company's stock, valued at approximately $308,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Mill Creek Capital Advisors LLC grew its holdings in shares of Philip Morris International by 3.4% during the first quarter. Mill Creek Capital Advisors LLC now owns 1,962 shares of the company's stock valued at $311,000 after buying an additional 64 shares in the last quarter. Freestone Capital Holdings LLC grew its holdings in shares of Philip Morris International by 3.5% during the first quarter. Freestone Capital Holdings LLC now owns 44,849 shares of the company's stock valued at $7,119,000 after buying an additional 1,516 shares in the last quarter. Affinity Investment Advisors LLC grew its holdings in shares of Philip Morris International by 4.7% during the first quarter. Affinity Investment Advisors LLC now owns 9,866 shares of the company's stock valued at $1,566,000 after buying an additional 447 shares in the last quarter. Foyston Gordon & Payne Inc grew its holdings in shares of Philip Morris International by 9.7% during the first quarter. Foyston Gordon & Payne Inc now owns 197,331 shares of the company's stock valued at $31,322,000 after buying an additional 17,400 shares in the last quarter. Finally, HFR Wealth Management LLC purchased a new position in shares of Philip Morris International during the first quarter valued at $235,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $166.19 on Friday. Philip Morris International Inc. has a fifty-two week low of $116.12 and a fifty-two week high of $186.69. The business has a 50-day moving average of $174.84 and a two-hundred day moving average of $164.79. The stock 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.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly 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 analysts' expectations of $10.33 billion. During the same quarter in the previous year, the firm earned $1.59 earnings per share. The business's quarterly revenue was up 7.1% compared to the same quarter last year. As a group, research analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were given 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 of this dividend was Friday, June 27th. Philip Morris International's payout ratio is currently 102.66%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PM shares. KGI Securities assumed coverage on Philip Morris International in a report on Monday, August 4th. They set an "outperform" rating on the stock. Wall Street Zen cut Philip Morris International from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Bank of America lifted their price objective on Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Morgan Stanley reissued an "overweight" rating and set a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Finally, UBS Group lifted their price objective on Philip Morris International from $170.00 to $181.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $186.27.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.