Gabelli Funds LLC Buys 47,350 Shares of Philip Morris International Inc. (NYSE:PM)

Gabelli Funds LLC lifted its position in Philip Morris International Inc. (NYSE:PM) by 20.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 282,350 shares of the company’s stock after acquiring an additional 47,350 shares during the quarter. Gabelli Funds LLC’s holdings in Philip Morris International were worth $25,869,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PM. Kessler Investment Group LLC bought a new stake in Philip Morris International during the first quarter worth $25,000. Boyd Watterson Asset Management LLC OH grew its position in Philip Morris International by 250.0% during the first quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock valued at $30,000 after buying an additional 230 shares during the period. Tennessee Valley Asset Management Partners purchased a new stake in Philip Morris International during the fourth quarter worth about $33,000. Northwest Financial Advisors bought a new stake in Philip Morris International in the fourth quarter worth about $33,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in Philip Morris International in the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Philip Morris International stock traded up $0.16 during mid-day trading on Friday, hitting $113.36. 5,381,717 shares of the company traded hands, compared to its average volume of 4,451,253. The stock has a fifty day moving average price of $103.26 and a 200-day moving average price of $96.52. The stock has a market cap of $176.22 billion, a price-to-earnings ratio of 22.14, a price-to-earnings-growth ratio of 2.30 and a beta of 0.58. Philip Morris International Inc. has a one year low of $87.23 and a one year high of $113.68.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.02. The firm had revenue of $9.47 billion during the quarter, compared to analyst estimates of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 10.92%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.60 earnings per share. Sell-side analysts predict that Philip Morris International Inc. will post 6.39 EPS for the current year.

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.59%. Philip Morris International’s dividend payout ratio (DPR) is 101.56%.

Wall Street Analyst Weigh In

PM has been the topic of several research analyst reports. Bank of America upped their price objective on Philip Morris International from $110.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday. Stifel Nicolaus lifted their price objective on Philip Morris International from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $107.80.

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.