Wiregrass Investment Management LLC Purchases Shares of 4,097 Philip Morris International Inc. $PM

Wiregrass Investment Management LLC acquired a new position in shares of Philip Morris International Inc. (NYSE:PM) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,097 shares of the company’s stock, valued at approximately $677,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Resurgent Financial Advisors LLC raised its position in shares of Philip Morris International by 3.7% in the fourth quarter. Resurgent Financial Advisors LLC now owns 1,523 shares of the company’s stock valued at $244,000 after purchasing an additional 54 shares during the period. Douglass Winthrop Advisors LLC boosted its holdings in shares of Philip Morris International by 0.3% during the 4th quarter. Douglass Winthrop Advisors LLC now owns 18,344 shares of the company’s stock worth $2,942,000 after buying an additional 56 shares during the period. Outlook Wealth Advisors LLC boosted its holdings in shares of Philip Morris International by 4.6% during the 4th quarter. Outlook Wealth Advisors LLC now owns 1,320 shares of the company’s stock worth $212,000 after buying an additional 58 shares during the period. Aristotle Capital Management LLC boosted its holdings in shares of Philip Morris International by 4.4% during the 4th quarter. Aristotle Capital Management LLC now owns 1,384 shares of the company’s stock worth $222,000 after buying an additional 58 shares during the period. Finally, Tranquility Partners LLC grew its stake in Philip Morris International by 2.4% in the 4th quarter. Tranquility Partners LLC now owns 2,489 shares of the company’s stock valued at $399,000 after buying an additional 59 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Performance

PM stock opened at $188.03 on Wednesday. Philip Morris International Inc. has a 52 week low of $142.11 and a 52 week high of $194.90. The company has a market capitalization of $293.06 billion, a PE ratio of 26.45, a price-to-earnings-growth ratio of 2.27 and a beta of 0.38. The company’s 50-day simple moving average is $182.60 and its 200 day simple moving average is $174.88.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.13. The business had revenue of $10.15 billion during the quarter, compared to analysts’ expectations of $9.95 billion. Philip Morris International had a net margin of 11.61% and a negative return on equity of 142.02%. The business’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.69 EPS. On average, analysts forecast that Philip Morris International Inc. will post 8.37 EPS for the current year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Thursday, June 25th were issued a dividend of $1.47 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $5.88 annualized dividend and a dividend yield of 3.1%. Philip Morris International’s dividend payout ratio (DPR) is currently 82.70%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Morgan Stanley increased their price target on shares of Philip Morris International from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, June 3rd. BTIG Research assumed coverage on Philip Morris International in a report on Tuesday. They set a “buy” rating and a $216.00 price objective for the company. UBS Group upped their target price on Philip Morris International from $168.00 to $182.00 and gave the company a “neutral” rating in a research report on Thursday, July 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, May 20th. Finally, Bank of America reissued a “buy” rating on shares of Philip Morris International in a report on Thursday, May 21st. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and a consensus target price of $197.00.

About Philip Morris International

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.