SNS Financial Group LLC Purchases 252 Shares of Philip Morris International Inc. (NYSE:PM)

SNS Financial Group LLC boosted its position in Philip Morris International Inc. (NYSE:PM) by 10.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,641 shares of the company’s stock after acquiring an additional 252 shares during the period. SNS Financial Group LLC’s holdings in Philip Morris International were worth $423,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pacifica Partners Inc. increased its position in shares of Philip Morris International by 115.0% during the first quarter. Pacifica Partners Inc. now owns 215 shares of the company’s stock valued at $35,000 after buying an additional 115 shares during the period. Redmont Wealth Advisors LLC bought a new stake in shares of Philip Morris International during the first quarter valued at about $35,000. Ball & Co Wealth Management Inc. bought a new stake in shares of Philip Morris International during the fourth quarter valued at about $36,000. Ameriflex Group Inc. purchased a new position in shares of Philip Morris International during the fourth quarter worth about $36,000. Finally, Inlight Wealth Management LLC purchased a new position in shares of Philip Morris International during the first quarter worth about $38,000. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Performance

Shares of Philip Morris International stock traded down $0.42 during midday trading on Friday, reaching $178.75. 4,649,814 shares of the company’s stock traded hands, compared to its average volume of 5,663,371. The company has a market cap of $278.23 billion, a PE ratio of 36.86, a price-to-earnings-growth ratio of 2.57 and a beta of 0.51. The stock has a 50 day moving average of $178.83 and a 200-day moving average of $158.57. Philip Morris International Inc. has a 12 month low of $106.76 and a 12 month high of $186.69.

Philip Morris International (NYSE:PM) last announced its earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.08. The company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.10 billion. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.50 earnings per share. On average, equities analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were paid a $1.35 dividend. The ex-dividend date was Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.02%. Philip Morris International’s dividend payout ratio is currently 111.34%.

Wall Street Analysts Forecast Growth

PM has been the subject of several recent analyst reports. Stifel Nicolaus boosted their price objective on Philip Morris International from $168.00 to $186.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. Citigroup upped their target price on Philip Morris International from $188.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. upped their target price on Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Needham & Company LLC began coverage on Philip Morris International in a research note on Thursday, May 22nd. They issued a “buy” rating for the company. Finally, Jefferies Financial Group began coverage on Philip Morris International in a research note on Wednesday, July 9th. They issued a “buy” rating and a $220.00 target price for the company. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $186.73.

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.