West Branch Capital LLC Raises Stake in Philip Morris International Inc. (NYSE:PM)

West Branch Capital LLC lifted its position in shares of Philip Morris International Inc. (NYSE:PM) by 437.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,265 shares of the company’s stock after buying an additional 2,658 shares during the quarter. West Branch Capital LLC’s holdings in Philip Morris International were worth $518,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. NewSquare Capital LLC grew its holdings in shares of Philip Morris International by 53.7% during the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock worth $25,000 after buying an additional 72 shares in the last quarter. Pacifica Partners Inc. grew its holdings in shares of Philip Morris International by 115.0% during the first quarter. Pacifica Partners Inc. now owns 215 shares of the company’s stock worth $35,000 after buying an additional 115 shares in the last quarter. Knuff & Co LLC purchased a new stake in shares of Philip Morris International during the fourth quarter worth about $36,000. Ball & Co Wealth Management Inc. purchased a new stake in shares of Philip Morris International during the fourth quarter worth about $36,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Philip Morris International in the fourth quarter worth approximately $36,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Stock Down 0.0%

Shares of PM stock opened at $184.01 on Friday. The stock has a market cap of $286.41 billion, a price-to-earnings ratio of 40.80, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. Philip Morris International Inc. has a fifty-two week low of $98.93 and a fifty-two week high of $185.16. The firm’s 50 day moving average price is $170.67 and its two-hundred day moving average price is $149.22.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.08. The firm had revenue of $9.30 billion for the quarter, compared to analysts’ expectations of $9.10 billion. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. Philip Morris International’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.50 earnings per share. On average, equities analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.93%. Philip Morris International’s payout ratio is currently 111.34%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Barclays boosted their target price on shares of Philip Morris International from $205.00 to $220.00 and gave the company an “overweight” rating in a report on Friday. Morgan Stanley restated an “overweight” rating and issued a $182.00 target price (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. UBS Group upgraded shares of Philip Morris International from a “sell” rating to a “neutral” rating and boosted their target price for the company from $130.00 to $170.00 in a report on Friday, April 25th. Stifel Nicolaus boosted their target price 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. Finally, Argus upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, March 14th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $176.80.

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.