Purkiss Capital Advisors LLC Raises Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Purkiss Capital Advisors LLC raised its position in shares of Philip Morris International Inc. (NYSE:PM) by 22.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,471 shares of the company’s stock after acquiring an additional 454 shares during the period. Purkiss Capital Advisors LLC’s holdings in Philip Morris International were worth $392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Pacifica Partners Inc. increased its position 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 valued at $35,000 after purchasing an additional 115 shares during the last quarter. Redmont Wealth Advisors LLC bought a new position in shares of Philip Morris International during the 1st quarter valued at approximately $35,000. Ball & Co Wealth Management Inc. bought a new position in shares of Philip Morris International during the 4th quarter valued at approximately $36,000. Ameriflex Group Inc. bought a new position in shares of Philip Morris International during the 4th quarter valued at approximately $36,000. Finally, Inlight Wealth Management LLC bought a new position in shares of Philip Morris International during the 1st quarter valued at approximately $38,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on PM. Citigroup reissued an “overweight” rating on shares of Philip Morris International in a research report on Tuesday, July 22nd. Needham & Company LLC reissued a “buy” rating and set a $195.00 target price on shares of Philip Morris International in a research report on Wednesday, July 23rd. 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 report on Thursday, April 24th. Barclays reaffirmed an “overweight” rating on shares of Philip Morris International in a research report on Tuesday, July 22nd. 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 report on Thursday, April 24th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $186.73.

Philip Morris International Trading Down 0.1%

Shares of Philip Morris International stock opened at $160.92 on Monday. The firm has a market cap of $250.47 billion, a P/E ratio of 30.59, a P/E/G ratio of 2.34 and a beta of 0.51. Philip Morris International Inc. has a 12 month low of $112.43 and a 12 month high of $186.69. The stock’s fifty day moving average price is $178.86 and its 200-day moving average price is $160.67.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.86 by $0.05. The firm had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.33 billion. Philip Morris International had a negative return on equity of 120.86% and a net margin of 10.57%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.59 earnings per share. Analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were paid a dividend of $1.35 per share. The ex-dividend date was Friday, June 27th. This represents a $5.40 annualized dividend and a dividend yield of 3.36%. Philip Morris International’s dividend payout ratio is currently 102.66%.

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.