Wealthfront Advisers LLC Has $31 Million Stock Position in Philip Morris International Inc. (NYSE:PM)

Wealthfront Advisers LLC grew its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 24.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 195,304 shares of the company's stock after purchasing an additional 37,836 shares during the period. Wealthfront Advisers LLC's holdings in Philip Morris International were worth $31,001,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Pacifica Partners Inc. boosted its position in shares of Philip Morris International by 115.0% during the first 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 in the first quarter valued at about $35,000. Ball & Co Wealth Management Inc. purchased a new stake in Philip Morris International during the fourth quarter valued at approximately $36,000. Ameriflex Group Inc. purchased a new position in Philip Morris International during the 4th quarter worth $36,000. Finally, Inlight Wealth Management LLC purchased a new stake in Philip Morris International in the first quarter valued at about $38,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PM shares. Stifel Nicolaus boosted their price objective on shares of Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Jefferies Financial Group initiated 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. Bank of America boosted their price target on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. UBS Group set a $181.00 price target on shares of Philip Morris International and gave the stock a "neutral" rating in a research report on Monday. Finally, Wall Street Zen lowered Philip Morris International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Philip Morris International presently has an average rating of "Moderate Buy" and an average price target of $186.73.

Philip Morris International Stock Down 2.1%

Shares of PM traded down $3.77 during mid-day trading on Thursday, hitting $179.51. 6,940,221 shares of the company's stock were exchanged, compared to its average volume of 5,661,808. The stock has a market cap of $279.40 billion, a price-to-earnings ratio of 37.01, a P/E/G ratio of 2.59 and a beta of 0.51. The firm has a fifty day moving average of $178.49 and a two-hundred day moving average of $157.75. Philip Morris International Inc. has a twelve month low of $106.35 and a twelve month high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.08. The business had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.50 earnings per share. On average, equities analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a yield of 3.01%. Philip Morris International's dividend payout ratio (DPR) is presently 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.