Turtle Creek Wealth Advisors LLC Makes New Investment in Philip Morris International Inc. (NYSE:PM)

Turtle Creek Wealth Advisors LLC purchased a new stake in Philip Morris International Inc. (NYSE:PM - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund purchased 16,098 shares of the company's stock, valued at approximately $2,555,000.

A number of other institutional investors have also modified their holdings of PM. Perigon Wealth Management LLC raised its holdings in Philip Morris International by 0.4% in the 1st 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 during the last quarter. TBH Global Asset Management LLC raised its position in shares of Philip Morris International by 0.9% during the first quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company's stock worth $1,100,000 after acquiring an additional 61 shares during the last quarter. Capital Advisors Wealth Management LLC increased its holdings in 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 worth $477,000 after purchasing an additional 63 shares in the last quarter. Lloyd Advisory Services LLC. increased its holdings in Philip Morris International by 3.3% in the first quarter. Lloyd Advisory Services LLC. now owns 2,032 shares of the company's stock worth $323,000 after purchasing an additional 64 shares in the last quarter. Finally, Western Wealth Management LLC increased its holdings in Philip Morris International by 1.5% in the first quarter. Western Wealth Management LLC now owns 4,446 shares of the company's stock worth $706,000 after purchasing an additional 64 shares in the last quarter. Institutional investors own 78.63% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on PM. JPMorgan Chase & Co. lifted their price objective on shares of Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Morgan Stanley reaffirmed an "overweight" rating and issued a $182.00 price target (up from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Wall Street Zen lowered Philip Morris International from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Bank of America boosted their price objective on Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Finally, Jefferies Financial Group started coverage on shares of Philip Morris International in a research note on Wednesday, July 9th. They set a "buy" rating and a $220.00 price target for the company. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $186.73.

Philip Morris International Stock Down 2.2%

PM traded down $4.09 during trading on Thursday, reaching $179.18. 1,996,014 shares of the company were exchanged, compared to its average volume of 5,643,079. Philip Morris International Inc. has a 12-month low of $106.35 and a 12-month high of $186.69. The company has a market cap of $278.89 billion, a price-to-earnings ratio of 36.89, a P/E/G ratio of 2.59 and a beta of 0.51. The company's 50-day moving average is $178.49 and its two-hundred day moving average is $157.75.

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

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a yield of 3.01%. Philip Morris International's payout ratio is 111.34%.

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.