Envestnet Portfolio Solutions Inc. Has $21.87 Million Holdings in Philip Morris International Inc. (NYSE:PM)

Envestnet Portfolio Solutions Inc. raised its position in Philip Morris International Inc. (NYSE:PM) by 4.7% in the first quarter, HoldingsChannel reports. The fund owned 238,652 shares of the company’s stock after purchasing an additional 10,722 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Philip Morris International were worth $21,865,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its position in shares of Philip Morris International by 9.1% during the fourth quarter. Capital Research Global Investors now owns 58,416,175 shares of the company’s stock valued at $5,495,794,000 after buying an additional 4,869,272 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Philip Morris International by 12.6% during the third quarter. Wellington Management Group LLP now owns 27,821,802 shares of the company’s stock valued at $2,575,742,000 after buying an additional 3,121,732 shares during the last quarter. Lone Pine Capital LLC purchased a new position in shares of Philip Morris International during the fourth quarter valued at approximately $282,785,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Philip Morris International by 25.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,439,154 shares of the company’s stock valued at $996,104,000 after buying an additional 2,123,311 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of Philip Morris International by 5,045.1% during the first quarter. Van ECK Associates Corp now owns 2,122,729 shares of the company’s stock valued at $194,484,000 after buying an additional 2,081,472 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Up 0.9 %

Philip Morris International stock traded up $0.95 during mid-day trading on Friday, reaching $105.95. 3,536,464 shares of the company’s stock were exchanged, compared to its average volume of 5,379,059. The business’s fifty day simple moving average is $101.16 and its 200 day simple moving average is $95.45. The firm has a market capitalization of $164.71 billion, a PE ratio of 20.51, a P/E/G ratio of 2.11 and a beta of 0.58. Philip Morris International Inc. has a one year low of $87.23 and a one year high of $106.63.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates 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%. Philip Morris International’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company posted $1.38 earnings per share. On average, sell-side analysts forecast that Philip Morris International Inc. will post 6.32 earnings per share for the current year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Friday, June 21st were paid a $1.30 dividend. The ex-dividend date was Friday, June 21st. This represents a $5.20 annualized dividend and a dividend yield of 4.91%. Philip Morris International’s payout ratio is presently 101.56%.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was 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 $17,205,859.74. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Separately, Stifel Nicolaus lifted their target price on Philip Morris International from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $104.22.

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.