Sierra Ocean LLC Raises Position in Philip Morris International Inc. (NYSE:PM)

Sierra Ocean LLC lifted its stake in Philip Morris International Inc. (NYSE:PM) by 128.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 707 shares of the company’s stock after buying an additional 398 shares during the period. Sierra Ocean LLC’s holdings in Philip Morris International were worth $112,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Sutton Place Investors LLC purchased a new stake in shares of Philip Morris International in the first quarter worth about $237,000. Sharp Financial Services LLC acquired a new position in shares of Philip Morris International in the first quarter worth about $299,000. Adell Harriman & Carpenter Inc. lifted its stake in shares of Philip Morris International by 139.7% in the first 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 in the last quarter. Concurrent Investment Advisors LLC lifted its stake in shares of Philip Morris International by 62.5% in the first 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 in the last quarter. Finally, World Investment Advisors lifted its stake in shares of Philip Morris International by 8.7% in the first 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 in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

Shares of PM stock opened at $179.00 on Friday. Philip Morris International Inc. has a 12-month low of $101.62 and a 12-month high of $186.69. The firm has a market capitalization of $278.62 billion, a price-to-earnings ratio of 36.91, a price-to-earnings-growth ratio of 2.59 and a beta of 0.51. The business has a 50 day simple moving average of $177.14 and a 200 day simple moving average of $154.80.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.08. The firm had revenue of $9.30 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the company posted $1.50 EPS. On average, equities analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

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

Wall Street Analysts Forecast Growth

PM has been the topic of several recent analyst reports. UBS Group upgraded Philip Morris International from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $130.00 to $170.00 in a research note on Friday, April 25th. Wall Street Zen upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Saturday, June 21st. Citigroup upped their price objective on Philip Morris International from $163.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 16th. Barclays restated an “overweight” rating and set a $220.00 price objective (up previously from $205.00) on shares of Philip Morris International in a research note on Friday, June 13th. Finally, Bank of America upped their price objective on Philip Morris International from $182.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.80.

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.