Westwood Holdings Group Inc. Makes New Investment in Philip Morris International Inc. (NYSE:PM)

Key Points

• Westwood Holdings Group Inc. has acquired a new stake in Philip Morris International Inc., buying 17,107 shares valued at approximately $2.7 million during Q1.
• Philip Morris International recently reported earnings of $1.91 per share, exceeding analyst estimates, although its revenue fell short of expectations at $10.14 billion.
• Dividends for the company were recently announced, with a quarterly payment of $1.35 per share, equating to an annualized dividend of $5.40 and a yield of 3.2%.

Westwood Holdings Group Inc. acquired a new stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 17,107 shares of the company's stock, valued at approximately $2,715,000.

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

Philip Morris International Stock Performance

NYSE PM opened at $167.00 on Thursday. The business has a fifty day moving average price of $176.70 and a 200 day moving average price of $162.53. The company has a market cap of $259.96 billion, a P/E ratio of 31.75, a P/E/G ratio of 2.39 and a beta of 0.48. Philip Morris International Inc. has a one year low of $114.20 and a one year high of $186.69.

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, beating analysts' consensus estimates of $1.86 by $0.05. The business had revenue of $10.14 billion during the quarter, compared to analysts' expectations of $10.33 billion. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The company's quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.59 earnings per share. As a group, sell-side analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, June 27th. Philip Morris International's payout ratio is currently 102.66%.

Analyst Ratings Changes

Several research firms have recently issued reports on PM. Stifel Nicolaus increased their target price 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. Morgan Stanley reiterated an "overweight" rating and set a $182.00 price target (up previously from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Bank of America boosted their price objective on Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Wall Street Zen upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research report on Sunday, July 20th. Finally, KGI Securities began coverage on shares of Philip Morris International in a report on Monday. They issued an "outperform" rating for the company. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Philip Morris International currently has a consensus rating of "Moderate Buy" and a consensus 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.

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