Philip Morris International Inc. (NYSE:PM) Shares Purchased by Ethic Inc.

Ethic Inc. increased its position in shares of Philip Morris International Inc. (NYSE:PM) by 28.8% during the first quarter, Holdings Channel reports. The fund owned 33,056 shares of the company’s stock after acquiring an additional 7,394 shares during the quarter. Ethic Inc.’s holdings in Philip Morris International were worth $5,226,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Perigon Wealth Management LLC raised its stake in Philip Morris International by 0.4% during the first quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company’s stock worth $2,236,000 after purchasing an additional 60 shares during the period. TBH Global Asset Management LLC raised its stake in Philip Morris International by 0.9% during the first quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company’s stock worth $1,100,000 after purchasing an additional 61 shares during the period. NFP Retirement Inc. raised its stake in Philip Morris International by 2.5% during the first quarter. NFP Retirement Inc. now owns 2,589 shares of the company’s stock worth $411,000 after purchasing an additional 62 shares during the period. Capital Advisors Wealth Management LLC raised its stake in Philip Morris International by 2.1% during the first quarter. Capital Advisors Wealth Management LLC now owns 3,005 shares of the company’s stock worth $477,000 after purchasing an additional 63 shares during the period. Finally, Renasant Bank raised its stake in Philip Morris International by 3.3% during the first quarter. Renasant Bank now owns 1,994 shares of the company’s stock worth $317,000 after purchasing an additional 63 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PM. Bank of America increased their price target on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. KGI Securities initiated coverage on shares of Philip Morris International in a research note on Monday, August 4th. They issued an “outperform” rating on the stock. Stifel Nicolaus raised their target price on shares of Philip Morris International from $168.00 to $186.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. Citigroup reissued an “overweight” rating on shares of Philip Morris International in a research note on Tuesday, July 22nd. Finally, Barclays cut their target price on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $186.27.

Philip Morris International Trading Up 0.6%

PM opened at $166.19 on Friday. The company has a fifty day simple moving average of $174.84 and a 200 day simple moving average of $164.55. The firm has a market cap of $258.69 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 2.40 and a beta of 0.48. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.91 earnings per share 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 analyst estimates of $10.33 billion. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The business’s revenue was up 7.1% on a year-over-year basis. During the same period last year, the business earned $1.59 EPS. On average, analysts forecast 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 disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were issued a dividend of $1.35 per share. 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%.

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.