Zurcher Kantonalbank Zurich Cantonalbank Buys 112,778 Shares of Philip Morris International Inc. (NYSE:PM)

Key Points

• Zurcher Kantonalbank increased its stake in Philip Morris International by 33.1% during the first quarter, now holding 453,686 shares valued at approximately $72 million.
• Philip Morris reported $1.91 EPS for the last quarter, exceeding estimates, while its revenue of $10.14 billion was slightly below analyst predictions.
• The company recently declared a quarterly dividend of $1.35, translating to an annualized dividend of $5.40 and a yield of 3.36%.

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 33.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 453,686 shares of the company's stock after buying an additional 112,778 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Philip Morris International were worth $72,014,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pacifica Partners Inc. grew its holdings in 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 in the last quarter. Redmont Wealth Advisors LLC bought a new stake in Philip Morris International in the first quarter worth $35,000. Ball & Co Wealth Management Inc. purchased a new stake in Philip Morris International during the fourth quarter valued at $36,000. Ameriflex Group Inc. purchased a new stake in Philip Morris International during the fourth quarter valued at $36,000. Finally, Inlight Wealth Management LLC bought a new position in Philip Morris International during the first quarter valued at $38,000. 78.63% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PM has been the topic of a number of research reports. Stifel Nicolaus boosted their target price on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Barclays reduced their price objective on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a research note on Wednesday. UBS Group upped their price objective on Philip Morris International from $170.00 to $181.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. JPMorgan Chase & Co. lifted their target price on Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Finally, Needham & Company LLC reissued a "buy" rating and set a $195.00 target price on shares of Philip Morris International in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, Philip Morris International has an average rating of "Moderate Buy" and an average price target of $186.27.

Philip Morris International Stock Performance

PM traded up $0.19 during trading on Wednesday, hitting $162.94. 3,538,028 shares of the stock were exchanged, compared to its average volume of 6,110,008. The firm has a 50 day simple moving average of $178.32 and a 200 day simple moving average of $160.97. The firm has a market cap of $253.63 billion, a price-to-earnings ratio of 30.98, a P/E/G ratio of 2.30 and a beta of 0.51. Philip Morris International Inc. has a 1 year low of $113.15 and a 1 year high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.86 by $0.05. The firm 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 10.57%. The business's revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $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. Stockholders of record on Friday, June 27th were given a $1.35 dividend. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 annualized dividend and a dividend yield of 3.31%. Philip Morris International's payout ratio is presently 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.