Foundations Investment Advisors LLC Boosts Stock Position in Philip Morris International Inc. (NYSE:PM)

Foundations Investment Advisors LLC raised its stake in Philip Morris International Inc. (NYSE:PM) by 56.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 35,067 shares of the company’s stock after purchasing an additional 12,663 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Philip Morris International were worth $5,566,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. 49 Wealth Management LLC raised its stake in shares of Philip Morris International by 79.0% during the 1st quarter. 49 Wealth Management LLC now owns 5,334 shares of the company’s stock worth $847,000 after buying an additional 2,354 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Philip Morris International by 7.3% during the first quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company’s stock worth $568,873,000 after acquiring an additional 242,799 shares during the period. Cortland Associates Inc. MO raised its position in Philip Morris International by 704.0% in the first quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company’s stock worth $22,690,000 after acquiring an additional 125,171 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Philip Morris International by 24.9% in the first 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 period. Finally, SpringVest Wealth Management LLC purchased a new stake in shares of Philip Morris International during the 1st quarter worth $253,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PM. Morgan Stanley reissued an “overweight” rating and set a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. JPMorgan Chase & Co. boosted their price target 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. Bank of America raised their price objective on Philip Morris International from $182.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Needham & Company LLC reiterated a “buy” rating and set a $195.00 target price on shares of Philip Morris International in a research report on Wednesday, July 23rd. Finally, UBS Group raised their price target on Philip Morris International from $170.00 to $181.00 and gave the company a “neutral” rating in a research report on Monday, July 14th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $186.73.

Philip Morris International Trading Down 2.0%

NYSE:PM opened at $157.66 on Tuesday. The firm has a market cap of $245.40 billion, a price-to-earnings ratio of 29.97, a price-to-earnings-growth ratio of 2.34 and a beta of 0.51. The company’s 50-day moving average is $178.55 and its two-hundred day moving average is $160.95. Philip Morris International Inc. has a 12-month low of $112.43 and a 12-month high of $186.69.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. The business had revenue of $10.14 billion during the quarter, compared to analyst estimates of $10.33 billion. Philip Morris International had a net margin of 10.57% 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 quarter in the previous year, the business posted $1.59 earnings per share. On average, equities research analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were issued a $1.35 dividend. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.43%. Philip Morris International’s dividend payout ratio (DPR) is presently 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.