Tritonpoint Wealth LLC Raises Stake in Philip Morris International Inc. (NYSE:PM)

Tritonpoint Wealth LLC increased its stake in Philip Morris International Inc. (NYSE:PM) by 10.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 3,095 shares of the company’s stock after buying an additional 294 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Philip Morris International were worth $495,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Philip Morris International by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 139,432,392 shares of the company’s stock worth $16,780,688,000 after buying an additional 1,167,810 shares during the last quarter. Capital World Investors raised its stake in Philip Morris International by 3.6% in the 4th quarter. Capital World Investors now owns 122,584,210 shares of the company’s stock valued at $14,752,926,000 after acquiring an additional 4,216,586 shares during the period. GQG Partners LLC raised its stake in Philip Morris International by 14.3% in the 4th quarter. GQG Partners LLC now owns 48,746,809 shares of the company’s stock valued at $5,866,678,000 after acquiring an additional 6,092,558 shares during the period. Geode Capital Management LLC raised its stake in Philip Morris International by 9.9% in the 4th quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company’s stock valued at $4,241,837,000 after acquiring an additional 3,185,258 shares during the period. Finally, Wellington Management Group LLP raised its stake in Philip Morris International by 3.1% in the 4th quarter. Wellington Management Group LLP now owns 17,276,790 shares of the company’s stock valued at $2,079,262,000 after acquiring an additional 516,617 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Morgan Stanley restated an “overweight” rating and issued a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. JPMorgan Chase & Co. boosted their price objective on Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Needham & Company LLC assumed coverage on Philip Morris International in a research note on Thursday, May 22nd. They issued a “buy” rating on the stock. UBS Group upgraded Philip Morris International from a “sell” rating to a “neutral” rating and upped their price target for the company from $130.00 to $170.00 in a research report on Friday, April 25th. Finally, Wall Street Zen cut Philip Morris International from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $176.80.

Philip Morris International Trading Down 0.0%

PM stock opened at $184.01 on Friday. Philip Morris International Inc. has a 1-year low of $98.93 and a 1-year high of $185.16. 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. The company’s 50 day moving average is $170.67 and its 200 day moving average is $149.34.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $9.30 billion for the quarter, compared to analysts’ expectations of $9.10 billion. During the same quarter last year, the company posted $1.50 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.93%. Philip Morris International’s dividend payout ratio (DPR) is presently 111.34%.

About Philip Morris International

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.