Alpine Bank Wealth Management Takes Position in Philip Morris International Inc. (NYSE:PM)

Alpine Bank Wealth Management bought a new stake in Philip Morris International Inc. (NYSE:PM) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,359 shares of the company’s stock, valued at approximately $533,000.

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PM. Argus raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, March 14th. Morgan Stanley reiterated an “overweight” rating and set a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Stifel Nicolaus increased their target price on Philip Morris International from $168.00 to $186.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. Needham & Company LLC began coverage on Philip Morris International in a research note on Thursday, May 22nd. They set a “buy” rating on the stock. Finally, Barclays reiterated an “overweight” rating and set a $220.00 target price (up previously from $205.00) on shares of Philip Morris International in a research note on Friday, June 13th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.80.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $184.54 on Wednesday. The company has a market capitalization of $287.24 billion, a P/E ratio of 38.05, a P/E/G ratio of 2.68 and a beta of 0.52. Philip Morris International Inc. has a 1 year low of $100.80 and a 1 year high of $186.69. The business’s 50 day simple moving average is $174.86 and its 200 day simple moving average is $151.88.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.50 earnings per share. On average, sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International’s dividend payout ratio is presently 111.34%.

Philip Morris International 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.