Sutton Place Investors LLC Takes Position in Philip Morris International Inc. (NYSE:PM)

Sutton Place Investors LLC purchased a new stake in shares of Philip Morris International Inc. (NYSE:PM) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,494 shares of the company’s stock, valued at approximately $237,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Sharp Financial Services LLC bought a new position in shares of Philip Morris International during the 1st quarter valued at $299,000. Adell Harriman & Carpenter Inc. raised its holdings in Philip Morris International by 139.7% in the 1st quarter. Adell Harriman & Carpenter Inc. now owns 5,539 shares of the company’s stock worth $879,000 after acquiring an additional 3,228 shares during the period. Concurrent Investment Advisors LLC raised its holdings in Philip Morris International by 62.5% in the 1st quarter. Concurrent Investment Advisors LLC now owns 49,486 shares of the company’s stock worth $7,855,000 after acquiring an additional 19,032 shares during the period. World Investment Advisors raised its holdings in Philip Morris International by 8.7% in the 1st quarter. World Investment Advisors now owns 70,621 shares of the company’s stock worth $11,210,000 after acquiring an additional 5,636 shares during the period. Finally, Truist Financial Corp raised its holdings in Philip Morris International by 3.2% in the 1st quarter. Truist Financial Corp now owns 2,385,017 shares of the company’s stock worth $378,574,000 after acquiring an additional 74,753 shares during the period. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

NYSE PM opened at $179.00 on Friday. The firm has a market capitalization of $278.62 billion, a price-to-earnings ratio of 36.91, a P/E/G ratio of 2.59 and a beta of 0.51. The company’s fifty day moving average is $177.14 and its two-hundred day moving average is $154.59. Philip Morris International Inc. has a 52-week low of $100.80 and a 52-week high of $186.69.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.08. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the business posted $1.50 EPS. As a group, sell-side analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $5.40 annualized dividend and a dividend yield of 3.02%. Philip Morris International’s dividend payout ratio (DPR) is currently 111.34%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PM. Argus upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, March 14th. Needham & Company LLC began coverage on shares of Philip Morris International in a report on Thursday, May 22nd. They issued a “buy” rating on the stock. Citigroup lifted their target price on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 16th. Barclays reiterated an “overweight” rating and issued a $220.00 target price (up previously from $205.00) on shares of Philip Morris International in a report on Friday, June 13th. Finally, Bank of America lifted their target price on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and a consensus price target of $176.80.

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.