Wallace Advisory Group LLC Raises Stake in Philip Morris International Inc. (NYSE:PM)

Wallace Advisory Group LLC raised its position in Philip Morris International Inc. (NYSE:PMFree Report) by 5.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,862 shares of the company’s stock after acquiring an additional 594 shares during the quarter. Wallace Advisory Group LLC’s holdings in Philip Morris International were worth $1,022,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners acquired a new position in shares of Philip Morris International in the 4th quarter valued at $33,000. Northwest Financial Advisors acquired a new position in shares of Philip Morris International in the 4th quarter valued at $33,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Philip Morris International in the 4th quarter valued at $38,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Philip Morris International in the 4th quarter valued at $39,000. Finally, Quarry LP increased its holdings in shares of Philip Morris International by 307.5% in the 4th quarter. Quarry LP now owns 436 shares of the company’s stock valued at $41,000 after acquiring an additional 329 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

PM has been the topic of a number of recent research reports. Argus reaffirmed a “hold” rating on shares of Philip Morris International in a report on Tuesday, March 5th. Stifel Nicolaus upped their price objective on shares of Philip Morris International from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $104.22.

Read Our Latest Research Report on PM

Philip Morris International Stock Performance

PM stock traded up $0.18 during trading on Tuesday, reaching $102.05. 2,601,073 shares of the company were exchanged, compared to its average volume of 5,469,793. The stock’s 50 day moving average price is $99.24 and its 200 day moving average price is $94.69. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $104.90. The company has a market cap of $158.64 billion, a P/E ratio of 19.90, a PEG ratio of 2.05 and a beta of 0.57.

Philip Morris International (NYSE:PMGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.41 by $0.09. The business had revenue of $8.79 billion for the quarter, compared to analyst estimates of $8.44 billion. Philip Morris International had a negative return on equity of 113.26% and a net margin of 8.58%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.38 EPS. As a group, equities research analysts forecast that Philip Morris International Inc. will post 6.32 EPS for the current year.

Philip Morris International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Friday, June 21st will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date of this dividend is Friday, June 21st. Philip Morris International’s dividend payout ratio is currently 101.56%.

Insider Activity

In related news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $96.42, for a total value of $1,928,400.00. Following the sale, the insider now directly owns 178,447 shares in the company, valued at approximately $17,205,859.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.14% of the company’s stock.

Philip Morris International Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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