1,457 Shares in Philip Morris International Inc. (NYSE:PM) Acquired by Firestone Capital Management

Firestone Capital Management acquired a new position in shares of Philip Morris International Inc. (NYSE:PM) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,457 shares of the company’s stock, valued at approximately $231,000.

Several other hedge funds and other institutional investors have also bought and sold shares of PM. Pacifica Partners Inc. lifted its stake in Philip Morris International by 115.0% in the first quarter. Pacifica Partners Inc. now owns 215 shares of the company’s stock valued at $35,000 after buying an additional 115 shares in the last quarter. Redmont Wealth Advisors LLC bought a new stake in shares of Philip Morris International in the first quarter worth $35,000. Inlight Wealth Management LLC bought a new stake in shares of Philip Morris International in the first quarter worth $38,000. Ameriflex Group Inc. bought a new stake in shares of Philip Morris International in the fourth quarter worth $36,000. Finally, Hughes Financial Services LLC bought a new stake in shares of Philip Morris International in the first quarter worth $46,000. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Down 0.7%

PM opened at $179.73 on Monday. Philip Morris International Inc. has a twelve month low of $104.84 and a twelve month high of $186.69. The company has a 50-day simple moving average of $178.05 and a 200 day simple moving average of $157.00. The stock has a market capitalization of $279.75 billion, a price-to-earnings ratio of 37.06, a P/E/G ratio of 2.60 and a beta of 0.51.

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

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International’s dividend payout ratio is currently 111.34%.

Analyst Upgrades and Downgrades

PM has been the topic of a number of research reports. Wall Street Zen lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday. Stifel Nicolaus boosted their target price on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. JPMorgan Chase & Co. boosted their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday. Barclays boosted their target price on shares of Philip Morris International from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Bank of America boosted their target price on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $185.73.

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.