Philip Morris International Inc. $PM Shares Acquired by Vestmark Advisory Solutions Inc.

Key Points

• Vestmark Advisory Solutions Inc. increased its stake in Philip Morris International by 95.1% in the first quarter, acquiring 41,302 additional shares, totaling a value of $13,448,000.
• Philip Morris International's recent quarterly earnings topped expectations, reporting $1.91 earnings per share against a consensus estimate of $1.86.
• The company declared a quarterly dividend of $1.35, resulting in an annualized yield of 3.3%, despite a payout ratio currently at 102.66%.

Vestmark Advisory Solutions Inc. raised its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 95.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,721 shares of the company's stock after purchasing an additional 41,302 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in Philip Morris International were worth $13,448,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Philip Morris International during the first quarter valued at approximately $34,000. Pacifica Partners Inc. grew its holdings in Philip Morris International by 115.0% in the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock worth $35,000 after purchasing an additional 115 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new position in Philip Morris International in the first quarter worth $35,000. Ball & Co Wealth Management Inc. purchased a new stake in shares of Philip Morris International during the fourth quarter valued at $36,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Philip Morris International during the fourth quarter valued at $36,000. Institutional investors own 78.63% of the company's stock.

Philip Morris International Trading Up 0.1%

PM stock traded up $0.18 during mid-day trading on Monday, reaching $166.37. The company's stock had a trading volume of 3,755,743 shares, compared to its average volume of 6,065,526. The stock has a market cap of $258.97 billion, a PE ratio of 31.63, a P/E/G ratio of 2.42 and a beta of 0.48. Philip Morris International Inc. has a fifty-two week low of $116.12 and a fifty-two week high of $186.69. The company's 50 day moving average is $174.84 and its two-hundred day moving average is $165.04.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly 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. 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 analysts' expectations of $10.33 billion. During the same quarter in the prior year, the company posted $1.59 EPS. The business's revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts forecast 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 given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International's dividend payout ratio (DPR) is currently 102.66%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Morgan Stanley reiterated an "overweight" rating and issued a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Wall Street Zen downgraded shares of Philip Morris International from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Bank of America upped their price objective on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Finally, Stifel Nicolaus upped their price objective on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Two analysts have 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 has an average rating of "Moderate Buy" and an average target price of $186.27.

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.