Philip Morris International Inc. (NYSE:PM) Shares Bought by iA Global Asset Management Inc.

iA Global Asset Management Inc. grew its position in Philip Morris International Inc. (NYSE:PM) by 22.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 303,465 shares of the company’s stock after buying an additional 54,966 shares during the period. Philip Morris International accounts for approximately 0.8% of iA Global Asset Management Inc.’s investment portfolio, making the stock its 28th largest position. iA Global Asset Management Inc.’s holdings in Philip Morris International were worth $48,169,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Perigon Wealth Management LLC boosted its stake in Philip Morris International by 0.4% in the first quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company’s stock valued at $2,236,000 after acquiring an additional 60 shares in the last quarter. TBH Global Asset Management LLC raised its position in Philip Morris International by 0.9% during the first quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company’s stock worth $1,100,000 after acquiring an additional 61 shares during the last quarter. Capital Advisors Wealth Management LLC increased its position in Philip Morris International by 2.1% during the 1st quarter. Capital Advisors Wealth Management LLC now owns 3,005 shares of the company’s stock worth $477,000 after purchasing an additional 63 shares in the last quarter. Lloyd Advisory Services LLC. lifted its stake in shares of Philip Morris International by 3.3% during the 1st quarter. Lloyd Advisory Services LLC. now owns 2,032 shares of the company’s stock worth $323,000 after purchasing an additional 64 shares during the period. Finally, Western Wealth Management LLC raised its stake in Philip Morris International by 1.5% during the first quarter. Western Wealth Management LLC now owns 4,446 shares of the company’s stock worth $706,000 after purchasing an additional 64 shares during the period. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Stock Performance

NYSE:PM opened at $162.88 on Tuesday. The firm has a market cap of $253.54 billion, a P/E ratio of 30.97, a P/E/G ratio of 2.37 and a beta of 0.48. Philip Morris International Inc. has a fifty-two week low of $113.15 and a fifty-two week high of $186.69. The firm has a 50-day simple moving average of $177.24 and a two-hundred day simple moving average of $162.48.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results 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 analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company posted $1.59 EPS. On average, equities research analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

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

Analyst Upgrades and Downgrades

PM has been the subject of a number of analyst reports. UBS Group increased their price target on Philip Morris International from $170.00 to $181.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Jefferies Financial Group initiated coverage on shares of Philip Morris International in a report on Wednesday, July 9th. They set a “buy” rating and a $220.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $195.00 price target on shares of Philip Morris International in a research note on Wednesday, July 23rd. Morgan Stanley restated 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. Finally, JPMorgan Chase & Co. increased their price objective on Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Philip Morris International presently has a consensus rating of “Moderate Buy” and an average price target of $186.27.

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.