Worth Asset Management LLC Makes New $2.22 Million Investment in Philip Morris International Inc. (NYSE:PM)

Worth Asset Management LLC purchased a new position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 14,008 shares of the company's stock, valued at approximately $2,223,000. Philip Morris International accounts for about 1.2% of Worth Asset Management LLC's portfolio, making the stock its 20th biggest position.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Baker Tilly Wealth Management LLC increased its position in shares of Philip Morris International by 5.9% during the 1st quarter. Baker Tilly Wealth Management LLC now owns 4,055 shares of the company's stock valued at $644,000 after purchasing an additional 225 shares during the period. Advance Capital Management Inc. bought a new position in Philip Morris International during the first quarter valued at about $224,000. Czech National Bank raised its position in Philip Morris International by 5.9% in the first quarter. Czech National Bank now owns 357,126 shares of the company's stock worth $56,687,000 after acquiring an additional 20,007 shares in the last quarter. Quantum Financial Advisors LLC bought a new stake in Philip Morris International in the first quarter worth about $200,000. Finally, 180 Wealth Advisors LLC acquired a new stake in Philip Morris International in the 1st quarter valued at about $643,000. Institutional investors own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PM. Argus raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. Needham & Company LLC began coverage on Philip Morris International in a report on Thursday, May 22nd. They set a "buy" rating for the company. Stifel Nicolaus boosted their price target 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. JPMorgan Chase & Co. boosted their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $169.20.

Philip Morris International Trading Down 0.2%

PM stock traded down $0.33 during mid-day trading on Tuesday, hitting $182.42. The stock had a trading volume of 4,940,187 shares, compared to its average volume of 5,620,079. Philip Morris International Inc. has a 1-year low of $98.93 and a 1-year high of $183.74. The company has a fifty day moving average of $165.83 and a 200 day moving average of $146.27. The stock has a market capitalization of $283.94 billion, a price-to-earnings ratio of 40.45, a PEG ratio of 2.65 and a beta of 0.52.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.61 by $0.08. The business had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $9.10 billion. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. The firm's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.50 EPS. As a group, sell-side analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $5.40 annualized dividend and a yield of 2.96%. Philip Morris International's dividend payout ratio (DPR) is currently 111.34%.

Insiders Place Their Bets

In related news, insider Lars Dahlgren sold 3,679 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $152.96, for a total value of $562,739.84. Following the transaction, the insider now directly owns 26,828 shares in the company, valued at approximately $4,103,610.88. This trade represents a 12.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.13% of the company's stock.

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.