1,884 Shares in Philip Morris International Inc. (NYSE:PM) Bought by Sharp Financial Services LLC

Sharp Financial Services LLC acquired a new position in shares of Philip Morris International Inc. (NYSE:PM) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 1,884 shares of the company’s stock, valued at approximately $299,000.

Several other institutional investors and hedge funds have also modified their holdings of PM. GQG Partners LLC lifted its position in shares of Philip Morris International by 14.3% during the 4th quarter. GQG Partners LLC now owns 48,746,809 shares of the company’s stock worth $5,866,678,000 after buying an additional 6,092,558 shares during the last quarter. GAMMA Investing LLC raised its position in Philip Morris International by 19,986.5% in the first quarter. GAMMA Investing LLC now owns 4,486,928 shares of the company’s stock valued at $712,210,000 after purchasing an additional 4,464,590 shares during the last quarter. Kovitz Investment Group Partners LLC raised its position in Philip Morris International by 372.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,453,285 shares of the company’s stock valued at $656,303,000 after purchasing an additional 4,298,530 shares during the last quarter. Capital World Investors raised its position in Philip Morris International by 3.6% in the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company’s stock valued at $14,752,926,000 after purchasing an additional 4,216,586 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Philip Morris International by 9.9% in the fourth quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company’s stock valued at $4,241,837,000 after purchasing an additional 3,185,258 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. Needham & Company LLC assumed coverage on Philip Morris International in a research report on Thursday, May 22nd. They issued a “buy” rating for the company. Barclays reiterated an “overweight” rating and issued a $220.00 target price (up from $205.00) on shares of Philip Morris International in a research report on Friday, June 13th. Morgan Stanley reiterated an “overweight” rating and issued a $182.00 target price (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. UBS Group raised Philip Morris International from a “sell” rating to a “neutral” rating and increased their price target for the company from $130.00 to $170.00 in a research note on Friday, April 25th. Finally, Stifel Nicolaus increased their price target on Philip Morris International from $168.00 to $186.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Philip Morris International currently has an average rating of “Moderate Buy” and a consensus price target of $176.80.

Philip Morris International Price Performance

NYSE PM opened at $179.00 on Friday. The business has a 50 day simple moving average of $177.14 and a 200 day simple moving average of $154.59. Philip Morris International Inc. has a one year low of $100.80 and a one year high of $186.69. The stock has a market capitalization of $278.62 billion, a P/E ratio of 36.91, a P/E/G ratio of 2.59 and a beta of 0.51.

Philip Morris International (NYSE:PM) last released its earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.61 by $0.08. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The business had revenue of $9.30 billion during the quarter, compared to analysts’ expectations of $9.10 billion. During the same quarter last year, the firm posted $1.50 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. Equities analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be paid a dividend of $1.35 per share. The ex-dividend date is Friday, June 27th. This represents a $5.40 annualized dividend and a yield of 3.02%. Philip Morris International’s dividend payout ratio is currently 111.34%.

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.