Verity Asset Management Inc. Acquires 12,583 Shares of Philip Morris International Inc. (NYSE:PM)

Verity Asset Management Inc. increased its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 97.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,434 shares of the company's stock after purchasing an additional 12,583 shares during the quarter. Philip Morris International accounts for 1.6% of Verity Asset Management Inc.'s holdings, making the stock its 11th biggest position. Verity Asset Management Inc.'s holdings in Philip Morris International were worth $4,037,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of PM. NewSquare Capital LLC grew its stake in shares of Philip Morris International by 53.7% during the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company's stock worth $25,000 after acquiring an additional 72 shares in the last quarter. Pacifica Partners Inc. grew its stake in shares of Philip Morris International by 115.0% during the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock worth $35,000 after acquiring an additional 115 shares in the last quarter. Knuff & Co LLC bought a new position in shares of Philip Morris International during the 4th quarter worth approximately $36,000. Ball & Co Wealth Management Inc. bought a new position in shares of Philip Morris International during the 4th quarter worth approximately $36,000. Finally, Ameriflex Group Inc. bought a new position in shares of Philip Morris International during the 4th quarter worth approximately $36,000. 78.63% of the stock is owned by institutional investors.

Philip Morris International Price Performance

PM stock opened at $181.11 on Monday. The company has a fifty day moving average price of $175.96 and a two-hundred day moving average price of $153.15. Philip Morris International Inc. has a one year low of $100.80 and a one year high of $186.69. The stock has a market cap of $281.90 billion, a price-to-earnings ratio of 37.34, a price-to-earnings-growth ratio of 2.62 and a beta of 0.52.

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

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a yield of 2.98%. Philip Morris International's dividend payout ratio (DPR) is 111.34%.

Wall Street Analysts Forecast Growth

PM has been the subject of several research reports. UBS Group raised shares of Philip Morris International from a "sell" rating to a "neutral" rating and raised their price target for the stock from $130.00 to $170.00 in a research note on Friday, April 25th. Stifel Nicolaus raised their price target on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Bank of America raised their price target 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. Wall Street Zen raised Philip Morris International from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Finally, Argus raised Philip Morris International from a "hold" rating to a "buy" rating in a report on Friday, March 14th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $176.80.

About Philip Morris International

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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