Manchester Capital Management LLC Increases Holdings in Philip Morris International Inc. (NYSE:PM)

Manchester Capital Management LLC lifted its position in shares of Philip Morris International Inc. (NYSE:PM) by 6.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,958 shares of the company’s stock after acquiring an additional 426 shares during the quarter. Manchester Capital Management LLC’s holdings in Philip Morris International were worth $1,104,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Mackenzie Financial Corp grew its stake in Philip Morris International by 7.3% in the 1st quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company’s stock valued at $568,873,000 after acquiring an additional 242,799 shares during the last quarter. 49 Wealth Management LLC grew its stake 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 valued at $847,000 after acquiring an additional 2,354 shares during the last quarter. Cortland Associates Inc. MO grew its stake in 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 acquiring an additional 125,171 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake 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 valued at $69,695,000 after acquiring an additional 87,631 shares during the last quarter. Finally, SpringVest Wealth Management LLC acquired a new stake in Philip Morris International in the 1st quarter valued at about $253,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Citigroup reissued an “overweight” rating on shares of Philip Morris International in a research note on Tuesday, July 22nd. Bank of America increased their price objective on shares of Philip Morris International from $182.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Barclays lowered their price objective on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday. Jefferies Financial Group initiated coverage on shares of Philip Morris International in a report on Wednesday, July 9th. They issued a “buy” rating and a $220.00 target price on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $195.00 target price on shares of Philip Morris International in a report on Wednesday, July 23rd. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $186.27.

Philip Morris International Price Performance

Shares of PM stock opened at $162.96 on Friday. The firm has a market cap of $253.66 billion, a P/E ratio of 30.98, a PEG ratio of 2.37 and a beta of 0.49. Philip Morris International Inc. has a 1-year low of $113.15 and a 1-year high of $186.69. The firm’s 50-day simple moving average is $177.55 and its 200-day simple moving average is $161.90.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.05. The business had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.33 billion. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The company’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.59 EPS. Analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Friday, June 27th. Philip Morris International’s dividend payout ratio is presently 102.66%.

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.