Truist Financial Corp Boosts Position in Philip Morris International Inc. (NYSE:PM)

Truist Financial Corp grew its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,385,017 shares of the company's stock after buying an additional 74,753 shares during the period. Truist Financial Corp owned 0.15% of Philip Morris International worth $378,574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC increased its position in Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock valued at $1,027,000 after acquiring an additional 2,023 shares during the last quarter. Revolve Wealth Partners LLC increased its position in Philip Morris International by 4.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company's stock valued at $252,000 after acquiring an additional 91 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Philip Morris International by 60.4% during the fourth quarter. Proficio Capital Partners LLC now owns 3,863 shares of the company's stock valued at $465,000 after purchasing an additional 1,455 shares during the period. E Fund Management Co. Ltd. boosted its stake in shares of Philip Morris International by 62.1% during the fourth quarter. E Fund Management Co. Ltd. now owns 16,882 shares of the company's stock valued at $2,032,000 after purchasing an additional 6,467 shares during the period. Finally, Welch & Forbes LLC boosted its stake in shares of Philip Morris International by 5.7% during the fourth quarter. Welch & Forbes LLC now owns 21,861 shares of the company's stock valued at $2,631,000 after purchasing an additional 1,174 shares during the period. Institutional investors own 78.63% of the company's stock.

Philip Morris International Trading Up 1.8%

PM stock traded up $3.09 during midday trading on Friday, reaching $179.00. The stock had a trading volume of 2,734,143 shares, compared to its average volume of 5,642,713. The company's fifty day simple moving average is $177.14 and its 200 day simple moving average is $154.80. The company has a market cap of $278.62 billion, a price-to-earnings ratio of 36.91, a price-to-earnings-growth ratio of 2.59 and a beta of 0.51. Philip Morris International Inc. has a 52-week low of $101.62 and a 52-week high of $186.69.

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

Philip Morris International Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a yield of 3.02%. Philip Morris International's payout ratio is currently 111.34%.

Wall Street Analyst Weigh In

PM has been the subject of a number of recent analyst reports. Citigroup boosted their target price on shares of Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, April 16th. UBS Group raised shares of Philip Morris International from a "sell" rating to a "neutral" rating and boosted their target price for the company from $130.00 to $170.00 in a research note on Friday, April 25th. Stifel Nicolaus boosted their target price on shares of Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Argus raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. Finally, Bank of America upped 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. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average 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.