Cornerstone Wealth Management LLC Buys 779 Shares of Philip Morris International Inc. (NYSE:PM)

Cornerstone Wealth Management LLC raised its stake in Philip Morris International Inc. (NYSE:PM) by 6.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,946 shares of the company’s stock after acquiring an additional 779 shares during the period. Cornerstone Wealth Management LLC’s holdings in Philip Morris International were worth $2,055,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Capital & Planning LLC lifted its holdings in Philip Morris International by 7.1% during the 4th quarter. Capital & Planning LLC now owns 2,613 shares of the company’s stock valued at $318,000 after purchasing an additional 173 shares during the last quarter. Brighton Jones LLC increased 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 buying an additional 2,023 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of 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. Atria Wealth Solutions Inc. boosted its holdings in shares of Philip Morris International by 4.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 83,265 shares of the company’s stock worth $10,067,000 after acquiring an additional 3,443 shares in the last quarter. Finally, Klingman & Associates LLC boosted its holdings in shares of Philip Morris International by 10.8% in the 4th quarter. Klingman & Associates LLC now owns 3,315 shares of the company’s stock worth $399,000 after acquiring an additional 324 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Down 0.6%

Philip Morris International stock opened at $182.44 on Thursday. The stock has a market cap of $283.97 billion, a price-to-earnings ratio of 37.62, a P/E/G ratio of 2.66 and a beta of 0.52. Philip Morris International Inc. has a 12-month low of $98.93 and a 12-month high of $186.69. The business’s 50-day simple moving average is $172.62 and its 200 day simple moving average is $150.28.

Philip Morris International (NYSE:PM) last issued its quarterly 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 net margin of 8.43% and a negative return on equity of 122.40%. The company had revenue of $9.30 billion during the quarter, compared to analysts’ expectations of $9.10 billion. During the same quarter in the previous year, the company earned $1.50 EPS. Philip Morris International’s revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International’s dividend payout ratio (DPR) is currently 111.34%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PM shares. UBS Group raised Philip Morris International from a “sell” rating to a “neutral” rating and raised their price target for the company from $130.00 to $170.00 in a report on Friday, April 25th. Argus upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. Stifel Nicolaus upped their price target on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. Citigroup increased their price objective on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 16th. Finally, Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus 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.