University of Texas Texas AM Investment Management Co. Purchases New Holdings in Philip Morris International Inc. (NYSE:PM)

Key Points

• The University of Texas Texas A&M Investment Management Co. has acquired a new stake in Philip Morris International, purchasing 13,965 shares valued at approximately $2.2 million.
• Several other institutional investors have also increased their holdings in Philip Morris, with Cortland Associates Inc. raising its stake by 704% in the first quarter.
• Philip Morris International reported $1.91 EPS for the recent quarter, exceeding analysts' estimates, despite revenues falling short of projections at $10.14 billion.

University of Texas Texas AM Investment Management Co. acquired a new position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 13,965 shares of the company's stock, valued at approximately $2,217,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Perigon Wealth Management LLC increased its stake in shares of 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 acquiring an additional 60 shares during the last quarter. TBH Global Asset Management LLC increased its stake in 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 purchasing an additional 61 shares in the last quarter. Capital Advisors Wealth Management LLC increased its stake 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 valued at $477,000 after purchasing an additional 63 shares in the last quarter. Lloyd Advisory Services LLC. increased its position in shares of Philip Morris International by 3.3% in the 1st quarter. Lloyd Advisory Services LLC. now owns 2,032 shares of the company's stock valued at $323,000 after buying an additional 64 shares in the last quarter. Finally, Western Wealth Management LLC increased its position in shares of Philip Morris International by 1.5% in the 1st quarter. Western Wealth Management LLC now owns 4,446 shares of the company's stock valued at $706,000 after buying an additional 64 shares in the last quarter. 78.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on PM. Jefferies Financial Group started coverage on shares of Philip Morris International in a research report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price objective for the company. UBS Group increased 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. Citigroup reissued an "overweight" rating on shares of Philip Morris International in a research report on Tuesday, July 22nd. Needham & Company LLC reissued a "buy" rating and issued a $195.00 price target on shares of Philip Morris International in a research note on Wednesday, July 23rd. Finally, Wall Street Zen raised Philip Morris International from a "hold" rating to a "buy" rating in a research note on Sunday, July 20th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Philip Morris International currently has an average rating of "Moderate Buy" and an average target price of $186.27.

Philip Morris International Trading Up 1.3%

Shares of PM traded up $2.15 during midday trading on Thursday, reaching $164.32. The stock had a trading volume of 2,930,202 shares, compared to its average volume of 6,116,716. Philip Morris International Inc. has a one year low of $113.15 and a one year high of $186.69. The firm has a market cap of $255.78 billion, a PE ratio of 31.24, a P/E/G ratio of 2.37 and a beta of 0.51. The firm has a 50 day simple moving average of $178.07 and a 200-day simple moving average of $160.97.

Philip Morris International (NYSE:PM - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.86 by $0.05. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The business had revenue of $10.14 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter in the previous year, the firm posted $1.59 EPS. Philip Morris International's revenue was up 7.1% compared to the same quarter last year. As a group, research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The company 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. The ex-dividend date was Friday, June 27th. This represents a $5.40 annualized dividend and a yield of 3.29%. Philip Morris International's dividend payout ratio (DPR) is presently 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.