Philip Morris International Inc. (NYSE:PM) Shares Bought by Vestcor Inc

Key Points

• Vestcor Inc has increased its holdings in Philip Morris International by 8.1%, acquiring an additional 5,102 shares, bringing its total shares to 68,323 worth approximately $10.85 million.
• Several hedge funds have also raised their positions in Philip Morris International, with 78.63% of the stock now owned by institutional investors.
• Analysts have a consensus rating of "Moderate Buy" for Philip Morris International, with a target price ranging from $186.73 to $220.00, indicating strong optimism about the stock's performance.

Vestcor Inc increased its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 8.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 68,323 shares of the company's stock after buying an additional 5,102 shares during the quarter. Vestcor Inc's holdings in Philip Morris International were worth $10,845,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacifica Partners Inc. raised its position 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 valued at $35,000 after buying an additional 115 shares during the period. Redmont Wealth Advisors LLC purchased a new position in Philip Morris International during the first quarter worth about $35,000. Ball & Co Wealth Management Inc. purchased a new position in shares of Philip Morris International during the 4th quarter worth approximately $36,000. Ameriflex Group Inc. acquired a new stake in shares of Philip Morris International in the fourth quarter valued at $36,000. Finally, Inlight Wealth Management LLC acquired a new position in Philip Morris International in the 1st quarter valued at about $38,000. Institutional investors and hedge funds own 78.63% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PM shares. Needham & Company LLC reaffirmed a "buy" rating and set a $195.00 target price on shares of Philip Morris International in a research note on Wednesday, July 23rd. Wall Street Zen raised Philip Morris International from a "hold" rating to a "buy" rating in a research report on Sunday, July 20th. Morgan Stanley reissued an "overweight" rating and set a $182.00 target price (up from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Jefferies Financial Group assumed coverage on shares of Philip Morris International in a research note on Wednesday, July 9th. They set a "buy" rating and a $220.00 target price on the stock. Finally, Stifel Nicolaus lifted 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. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $186.27.

Philip Morris International Stock Down 0.7%

NYSE PM traded down $1.09 during mid-day trading on Friday, hitting $162.96. The stock had a trading volume of 7,552,974 shares, compared to its average volume of 6,566,090. The company has a 50 day simple moving average of $177.55 and a 200 day simple moving average of $161.60. The company has a market cap of $253.66 billion, a price-to-earnings ratio of 30.98, a P/E/G ratio of 2.39 and a beta of 0.49. Philip Morris International Inc. has a 52-week low of $113.15 and a 52-week high of $186.69.

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

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International's dividend payout ratio is 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.