C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Has $1.61 Million Stake in Philip Morris International Inc. (NYSE:PM)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 1.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 10,192 shares of the company’s stock after selling 160 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Philip Morris International were worth $1,611,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PM. Vanguard Group Inc. increased its holdings in shares of Philip Morris International by 0.9% in the first quarter. Vanguard Group Inc. now owns 140,621,675 shares of the company’s stock valued at $22,320,878,000 after purchasing an additional 1,189,283 shares in the last quarter. Capital World Investors increased its holdings in shares of Philip Morris International by 3.6% in the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company’s stock valued at $14,752,926,000 after purchasing an additional 4,216,586 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Philip Morris International by 11.0% in the fourth quarter. Northern Trust Corp now owns 13,630,177 shares of the company’s stock valued at $1,640,392,000 after purchasing an additional 1,347,503 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Philip Morris International in the first quarter valued at approximately $1,712,994,000. Finally, Fayez Sarofim & Co increased its holdings in shares of Philip Morris International by 7.1% in the fourth quarter. Fayez Sarofim & Co now owns 10,313,383 shares of the company’s stock valued at $1,241,216,000 after purchasing an additional 685,431 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Bank of America raised their price target on shares of Philip Morris International from $182.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. Morgan Stanley reissued an “overweight” rating and issued a $182.00 price target (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Wall Street Zen lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday. JPMorgan Chase & Co. raised their price objective on shares of Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Finally, Citigroup reaffirmed an “overweight” rating on shares of Philip Morris International in a research note on Tuesday, July 22nd. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $186.27.

Philip Morris International Stock Up 1.2%

Shares of NYSE PM opened at $170.23 on Monday. The company’s fifty day moving average is $176.29 and its 200-day moving average is $163.71. The stock has a market cap of $264.98 billion, a price-to-earnings ratio of 32.36, a P/E/G ratio of 2.48 and a beta of 0.48. Philip Morris International Inc. has a twelve month low of $115.62 and a twelve month high of $186.69.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.05. The company had revenue of $10.14 billion for the quarter, compared to analysts’ expectations of $10.33 billion. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $1.59 earnings per share. On average, research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International’s payout ratio is currently 102.66%.

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.