Cullen Frost Bankers Inc. Acquires 1,403 Shares of Philip Morris International Inc. (NYSE:PM)

Cullen Frost Bankers Inc. boosted its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 0.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 276,627 shares of the company’s stock after purchasing an additional 1,403 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Philip Morris International were worth $43,909,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PM. Pacifica Partners Inc. increased its stake in Philip Morris International by 115.0% in 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. Redmont Wealth Advisors LLC bought a new stake in Philip Morris International in the 1st quarter worth approximately $35,000. Ball & Co Wealth Management Inc. bought a new stake in Philip Morris International in the 4th quarter worth approximately $36,000. Ameriflex Group Inc. bought a new stake in Philip Morris International in the 4th quarter worth approximately $36,000. Finally, Inlight Wealth Management LLC bought a new stake in Philip Morris International in the 1st quarter worth approximately $38,000. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Up 0.1%

PM opened at $180.88 on Wednesday. The business has a fifty day moving average of $178.33 and a 200 day moving average of $157.57. Philip Morris International Inc. has a 52-week low of $104.84 and a 52-week high of $186.69. The stock has a market cap of $281.54 billion, a P/E ratio of 37.29, a PEG ratio of 2.61 and a beta of 0.51.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.08. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. 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 business earned $1.50 EPS. Philip Morris International’s revenue was up 5.8% compared to the same quarter last year. Equities 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 disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International’s payout ratio is currently 111.34%.

Analysts Set New Price Targets

PM has been the topic of a number of research reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Citigroup boosted 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, July 10th. Jefferies Financial Group started coverage on Philip Morris International in a research report on Wednesday, July 9th. They set a “buy” rating and a $220.00 target price on the stock. Needham & Company LLC started coverage on Philip Morris International in a research report on Thursday, May 22nd. They set a “buy” rating on the stock. Finally, Bank of America boosted their target price on Philip Morris International from $182.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $186.73.

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.