VCI Wealth Management LLC Invests $1.12 Million in Philip Morris International Inc. (NYSE:PM)

VCI Wealth Management LLC acquired a new stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 7,074 shares of the company's stock, valued at approximately $1,123,000.

Other institutional investors also recently modified their holdings of the company. Pacifica Partners Inc. raised its holdings in shares of Philip Morris International by 115.0% in the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after purchasing an additional 115 shares during the last quarter. Redmont Wealth Advisors LLC bought a new position in shares of Philip Morris International during the 1st quarter worth approximately $35,000. Ball & Co Wealth Management Inc. bought a new position in shares of Philip Morris International in the fourth quarter valued at approximately $36,000. Ameriflex Group Inc. bought a new stake in Philip Morris International during the fourth quarter worth $36,000. Finally, Inlight Wealth Management LLC bought a new stake in shares of Philip Morris International during the 1st quarter worth $38,000. Institutional investors and hedge funds own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PM. JPMorgan Chase & Co. boosted their price objective on Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Wall Street Zen raised Philip Morris International from a "hold" rating to a "buy" rating in a research report on Sunday. UBS Group lifted their target price on Philip Morris International from $170.00 to $181.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Bank of America increased their price target 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 on the stock. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $186.73.

Philip Morris International Stock Performance

PM stock traded down $13.76 during midday trading on Tuesday, hitting $166.72. 9,835,067 shares of the stock were exchanged, compared to its average volume of 5,683,702. Philip Morris International Inc. has a fifty-two week low of $106.76 and a fifty-two week high of $186.69. The stock's 50-day moving average price is $178.83 and its 200-day moving average price is $159.09. The stock has a market cap of $259.50 billion, a price-to-earnings ratio of 34.25, a PEG ratio of 2.56 and a beta of 0.51.

Philip Morris International (NYSE:PM - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.86 by $0.05. The company had revenue of $10.14 billion for the quarter, compared to the consensus estimate of $10.33 billion. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. Philip Morris International's quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.59 earnings per share. Research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

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 dividend on an annualized basis and a yield of 3.24%. Philip Morris International's dividend payout ratio is currently 111.34%.

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.

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