Fort Pitt Capital Group LLC grew its stake in Philip Morris International Inc. (NYSE:PM – Get Rating) by 1.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,414 shares of the company's stock after buying an additional 259 shares during the quarter. Fort Pitt Capital Group LLC's holdings in Philip Morris International were worth $2,312,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Tcwp LLC acquired a new position in Philip Morris International during the first quarter worth $26,000. Bivin & Associates Inc. acquired a new position in Philip Morris International during the fourth quarter worth $27,000. Sandy Cove Advisors LLC acquired a new position in Philip Morris International during the first quarter worth $28,000. American National Bank boosted its holdings in Philip Morris International by 89.1% during the first quarter. American National Bank now owns 312 shares of the company's stock worth $29,000 after purchasing an additional 147 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in Philip Morris International during the first quarter worth $33,000. Institutional investors and hedge funds own 76.00% of the company's stock.
Get Philip Morris International alerts:Philip Morris International Trading Down 1.8 %
Philip Morris International stock traded down $1.60 during trading hours on Thursday, reaching $85.75. 70,132 shares of the stock were exchanged, compared to its average volume of 4,230,696. The company has a market cap of $132.93 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 3.43 and a beta of 0.62. Philip Morris International Inc. has a twelve month low of $85.64 and a twelve month high of $112.48. The stock has a 50 day moving average of $96.38 and a two-hundred day moving average of $98.28.
Philip Morris International (NYSE:PM – Get Rating) last announced its quarterly earnings data on Thursday, July 21st. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.24 by $0.24. Philip Morris International had a net margin of 11.05% and a negative return on equity of 115.36%. The firm had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $6.76 billion. During the same period in the prior year, the company posted $1.57 earnings per share. The business's revenue for the quarter was down .1% on a year-over-year basis. On average, analysts expect that Philip Morris International Inc. will post 5.84 earnings per share for the current fiscal year.Philip Morris International Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 12th. Stockholders of record on Wednesday, September 28th will be paid a $1.27 dividend. This is an increase from Philip Morris International's previous quarterly dividend of $1.25. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.92%. The ex-dividend date of this dividend is Tuesday, September 27th. Philip Morris International's dividend payout ratio (DPR) is presently 87.29%.
Wall Street Analysts Forecast Growth
PM has been the topic of several analyst reports. Credit Suisse Group reaffirmed a "neutral" rating and set a $107.00 price target on shares of Philip Morris International in a research report on Wednesday. Jefferies Financial Group dropped their price objective on shares of Philip Morris International from $107.00 to $99.00 in a research report on Tuesday, July 19th. Finally, StockNews.com raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Tuesday, July 26th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $108.89.
Philip Morris International Profile
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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 that are sold in markets outside the United States.
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