Turtle Creek Wealth Advisors LLC Makes New $2.56 Million Investment in Philip Morris International Inc. (NYSE:PM)

Turtle Creek Wealth Advisors LLC purchased a new position in Philip Morris International Inc. (NYSE:PM) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 16,098 shares of the company’s stock, valued at approximately $2,555,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. 49 Wealth Management LLC boosted its holdings in Philip Morris International by 79.0% in the 1st quarter. 49 Wealth Management LLC now owns 5,334 shares of the company’s stock worth $847,000 after acquiring an additional 2,354 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Philip Morris International by 24.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company’s stock worth $69,695,000 after acquiring an additional 87,631 shares during the period. Brighton Jones LLC raised its position in shares of Philip Morris International by 31.1% in the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock valued at $1,027,000 after purchasing an additional 2,023 shares in the last quarter. Symmetry Investments LP acquired a new position in shares of Philip Morris International in the 4th quarter valued at approximately $1,966,000. Finally, Cortland Associates Inc. MO raised its position in shares of Philip Morris International by 704.0% in the 1st quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company’s stock valued at $22,690,000 after purchasing an additional 125,171 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Citigroup upped their target price on Philip Morris International from $188.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday. Morgan Stanley reaffirmed an “overweight” rating and issued a $182.00 target price (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Stifel Nicolaus upped their target price on Philip Morris International from $168.00 to $186.00 and gave the company a “buy” rating in a research report on Thursday, April 24th. UBS Group raised Philip Morris International from a “sell” rating to a “neutral” rating and upped their target price for the company from $130.00 to $170.00 in a research report on Friday, April 25th. Finally, Needham & Company LLC assumed coverage on Philip Morris International in a research report on Thursday, May 22nd. They issued a “buy” rating on the stock. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $185.73.

Philip Morris International Trading Down 0.7%

PM stock opened at $179.73 on Monday. The firm has a market cap of $279.75 billion, a P/E ratio of 37.06, a P/E/G ratio of 2.60 and a beta of 0.51. Philip Morris International Inc. has a 12-month low of $104.84 and a 12-month high of $186.69. The stock’s 50 day simple moving average is $178.05 and its 200 day simple moving average is $157.00.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.08. The business had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.50 EPS. On average, research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a yield of 3.00%. Philip Morris International’s payout ratio is currently 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.