Cullinan Associates Inc. Purchases 350 Shares of Philip Morris International Inc. (NYSE:PM)

Cullinan Associates Inc. boosted its position in shares of Philip Morris International Inc. (NYSE:PM) by 0.8% during the 1st quarter, HoldingsChannel reports. The fund owned 44,570 shares of the company’s stock after buying an additional 350 shares during the quarter. Cullinan Associates Inc.’s holdings in Philip Morris International were worth $7,075,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NewSquare Capital LLC increased its stake in Philip Morris International by 53.7% during the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock valued at $25,000 after acquiring an additional 72 shares during the period. Pacifica Partners Inc. increased its stake in Philip Morris International by 115.0% during the first quarter. Pacifica Partners Inc. now owns 215 shares of the company’s stock valued at $35,000 after acquiring an additional 115 shares during the period. Inlight Wealth Management LLC bought a new stake in shares of Philip Morris International in the 1st quarter valued at approximately $38,000. Ameriflex Group Inc. bought a new stake in shares of Philip Morris International in the 4th quarter valued at approximately $36,000. Finally, Knuff & Co LLC bought a new stake in shares of Philip Morris International in the 4th quarter valued at approximately $36,000. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Price Performance

Shares of PM opened at $182.57 on Friday. The company has a market capitalization of $284.18 billion, a P/E ratio of 37.64, a PEG ratio of 2.66 and a beta of 0.52. Philip Morris International Inc. has a one year low of $99.86 and a one year high of $186.69. The business’s 50 day simple moving average is $173.82 and its 200-day simple moving average is $151.14.

Philip Morris International (NYSE:PM) last announced 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. The business had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.10 billion. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. 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 business earned $1.50 EPS. On average, sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.96%. The ex-dividend date is Friday, June 27th. Philip Morris International’s dividend payout ratio is 111.34%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PM shares. Citigroup upped their price objective on Philip Morris International from $163.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 16th. UBS Group upgraded Philip Morris International from a “sell” rating to a “neutral” rating and upped their price objective for the company from $130.00 to $170.00 in a research note on Friday, April 25th. Barclays reiterated an “overweight” rating and issued a $220.00 price objective (up from $205.00) on shares of Philip Morris International in a research note on Friday, June 13th. Argus upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. Finally, Stifel Nicolaus upped their price objective 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 research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Philip Morris International presently has a consensus rating of “Moderate Buy” and an average price target of $176.80.

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.