Rockport Wealth LLC Makes New $243,000 Investment in Philip Morris International Inc. (NYSE:PM)

Rockport Wealth LLC acquired a new position in shares of Philip Morris International Inc. (NYSE:PM) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,648 shares of the company’s stock, valued at approximately $243,000.

Several other institutional investors also recently bought and sold shares of PM. KCM Investment Advisors LLC increased its holdings in shares of Philip Morris International by 2.8% in the first quarter. KCM Investment Advisors LLC now owns 3,868 shares of the company’s stock valued at $354,000 after purchasing an additional 104 shares during the last quarter. Smallwood Wealth Investment Management LLC increased its stake in Philip Morris International by 0.6% during the first quarter. Smallwood Wealth Investment Management LLC now owns 17,495 shares of the company’s stock worth $1,603,000 after acquiring an additional 108 shares during the last quarter. 1ST Source Bank increased its stake in Philip Morris International by 4.1% during the first quarter. 1ST Source Bank now owns 2,742 shares of the company’s stock worth $251,000 after acquiring an additional 108 shares during the last quarter. PFG Investments LLC increased its stake in Philip Morris International by 1.9% during the fourth quarter. PFG Investments LLC now owns 5,951 shares of the company’s stock worth $560,000 after acquiring an additional 109 shares during the last quarter. Finally, McKinley Carter Wealth Services Inc. increased its stake in Philip Morris International by 4.7% during the first quarter. McKinley Carter Wealth Services Inc. now owns 2,460 shares of the company’s stock worth $225,000 after acquiring an additional 111 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Stifel Nicolaus raised their target price on Philip Morris International from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $104.22.

Insider Activity at Philip Morris International

In related news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $96.42, for a total value of $1,928,400.00. Following the completion of the transaction, the insider now directly owns 178,447 shares in the company, valued at $17,205,859.74. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.13% of the stock is currently owned by company insiders.

Philip Morris International Stock Performance

Shares of PM traded up $2.34 during midday trading on Tuesday, hitting $109.56. 7,259,195 shares of the stock were exchanged, compared to its average volume of 5,352,568. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $111.36. The stock has a fifty day simple moving average of $102.33 and a 200 day simple moving average of $96.08. The firm has a market cap of $170.32 billion, a P/E ratio of 20.94, a P/E/G ratio of 2.19 and a beta of 0.58.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.41 by $0.09. Philip Morris International had a negative return on equity of 113.26% and a net margin of 8.58%. The business had revenue of $8.79 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same period last year, the business posted $1.38 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts forecast that Philip Morris International Inc. will post 6.34 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 8th. Investors of record on Friday, June 21st were issued a $1.30 dividend. The ex-dividend date of this dividend was Friday, June 21st. This represents a $5.20 dividend on an annualized basis and a yield of 4.75%. Philip Morris International’s dividend payout ratio (DPR) is presently 101.56%.

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.