Elevate Capital Advisors LLC Takes Position in Philip Morris International Inc. (NYSE:PM)

Elevate Capital Advisors LLC acquired a new position in shares of Philip Morris International Inc. (NYSE:PM) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,613 shares of the company’s stock, valued at approximately $1,398,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Valley Wealth Managers Inc. raised its holdings in shares of Philip Morris International by 457.5% during the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after purchasing an additional 183 shares in the last quarter. Dunhill Financial LLC raised its holdings in Philip Morris International by 203.8% during the third quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock valued at $29,000 after buying an additional 161 shares in the last quarter. Concord Wealth Partners lifted its position in shares of Philip Morris International by 2,709.1% in the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock worth $38,000 after buying an additional 298 shares during the last quarter. Asset Dedication LLC boosted its stake in shares of Philip Morris International by 55.5% during the 4th quarter. Asset Dedication LLC now owns 412 shares of the company’s stock worth $50,000 after acquiring an additional 147 shares in the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in shares of Philip Morris International during the 3rd quarter valued at about $54,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PM shares. UBS Group boosted their target price on Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a report on Friday. Stifel Nicolaus boosted their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley began coverage on shares of Philip Morris International in a research note on Thursday, January 16th. They issued an “overweight” rating and a $140.00 target price on the stock. Barclays cut their target price 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. Finally, JPMorgan Chase & Co. raised their price target on Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and an average price target of $134.35.

Philip Morris International Stock Down 0.6 %

PM stock opened at $144.40 on Monday. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $146.78. The company has a market cap of $224.51 billion, a PE ratio of 32.02, a price-to-earnings-growth ratio of 2.55 and a beta of 0.55. The business’s 50-day simple moving average is $125.66 and its 200 day simple moving average is $123.97.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.06. Philip Morris International had a negative return on equity of 120.08% and a net margin of 9.24%. On average, equities research analysts anticipate that Philip Morris International Inc. will post 7.11 EPS for the current year.

Philip Morris International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, December 26th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date was Thursday, December 26th. Philip Morris International’s payout ratio is 119.73%.

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.