Philip Morris International Inc. (NYSE:PM) Shares Bought by Portside Wealth Group LLC

Portside Wealth Group LLC boosted its holdings in Philip Morris International Inc. (NYSE:PM) by 7.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,881 shares of the company’s stock after acquiring an additional 2,697 shares during the period. Philip Morris International comprises about 1.0% of Portside Wealth Group LLC’s investment portfolio, making the stock its 18th biggest holding. Portside Wealth Group LLC’s holdings in Philip Morris International were worth $5,854,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Capital & Planning LLC lifted its holdings in Philip Morris International by 7.1% in the 4th quarter. Capital & Planning LLC now owns 2,613 shares of the company’s stock valued at $318,000 after acquiring an additional 173 shares during the last quarter. Brighton Jones LLC raised its holdings in shares of Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock worth $1,027,000 after acquiring an additional 2,023 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in Philip Morris International by 4.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock valued at $252,000 after acquiring an additional 91 shares during the last quarter. Golden State Equity Partners boosted its stake in shares of Philip Morris International by 29.6% during the 4th quarter. Golden State Equity Partners now owns 3,145 shares of the company’s stock worth $378,000 after acquiring an additional 719 shares in the last quarter. Finally, KPP Advisory Services LLC bought a new position in Philip Morris International in the 4th quarter worth $373,000. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Trading Down 0.2%

NYSE PM opened at $182.42 on Wednesday. Philip Morris International Inc. has a 12 month low of $98.93 and a 12 month high of $183.94. The business has a fifty day simple moving average of $166.38 and a 200 day simple moving average of $146.52. The firm has a market capitalization of $283.94 billion, a P/E ratio of 40.45, a PEG ratio of 2.65 and a beta of 0.52.

Philip Morris International (NYSE:PM) last issued its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.08. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The business had revenue of $9.30 billion for the quarter, compared to analysts’ expectations of $9.10 billion. During the same quarter in the previous year, the firm posted $1.50 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend was Thursday, March 20th. 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 Philip Morris International 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 sale, the insider now owns 26,828 shares in the company, valued at $4,103,610.88. The trade was a 12.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PM has been the topic of several analyst reports. Citigroup boosted their price target on shares of Philip Morris International from $163.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 16th. JPMorgan Chase & Co. lifted their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Barclays increased their target price on Philip Morris International from $175.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Morgan Stanley reissued an “overweight” rating and issued a $182.00 price target (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Finally, UBS Group upgraded shares of Philip Morris International from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $130.00 to $170.00 in a report on Friday, April 25th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $169.20.

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.