Genesis Private Wealth LLC Invests $500,000 in Philip Morris International Inc. (NYSE:PM)

Genesis Private Wealth LLC purchased a new position in Philip Morris International Inc. (NYSE:PM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,155 shares of the company’s stock, valued at approximately $500,000.

A number of other large investors have also recently made changes to their positions in PM. FMR LLC grew its position in Philip Morris International by 40.9% during the third quarter. FMR LLC now owns 23,168,446 shares of the company’s stock valued at $2,812,649,000 after buying an additional 6,721,094 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Philip Morris International by 57.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock worth $1,121,932,000 after purchasing an additional 3,363,454 shares during the period. National Bank of Canada FI boosted its position in shares of Philip Morris International by 161.6% in the third quarter. National Bank of Canada FI now owns 1,943,460 shares of the company’s stock worth $235,936,000 after purchasing an additional 1,200,636 shares during the period. Los Angeles Capital Management LLC boosted its position in shares of Philip Morris International by 14,611.4% in the third quarter. Los Angeles Capital Management LLC now owns 1,173,531 shares of the company’s stock worth $142,467,000 after purchasing an additional 1,165,554 shares during the period. Finally, International Assets Investment Management LLC boosted its position in shares of Philip Morris International by 13,666.6% in the third quarter. International Assets Investment Management LLC now owns 999,729 shares of the company’s stock worth $121,367,000 after purchasing an additional 992,467 shares during the period. 78.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barclays dropped their price target on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. boosted their target price on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Finally, Citigroup upped their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $131.35.

Philip Morris International Price Performance

Shares of NYSE PM opened at $123.78 on Wednesday. The company has a market cap of $192.46 billion, a PE ratio of 19.65, a P/E/G ratio of 1.99 and a beta of 0.54. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $134.15. The stock has a fifty day moving average price of $125.44 and a 200 day moving average price of $121.61.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.82 by $0.09. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The business had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. During the same period in the previous year, the firm earned $1.67 EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. Analysts anticipate that Philip Morris International Inc. will post 6.5 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, December 26th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date was Thursday, December 26th. Philip Morris International’s dividend payout ratio is currently 85.71%.

Philip Morris International 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.