Miracle Mile Advisors LLC Purchases New Position in Philip Morris International Inc. (NYSE:PM)

Miracle Mile Advisors LLC acquired a new stake in Philip Morris International Inc. (NYSE:PM) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,189 shares of the company’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of Nova Scotia lifted its holdings in Philip Morris International by 283.5% in the 4th quarter. Bank of Nova Scotia now owns 1,186,082 shares of the company’s stock worth $111,583,000 after buying an additional 876,790 shares in the last quarter. Ferguson Wellman Capital Management Inc. increased its position in shares of Philip Morris International by 2.3% during the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 603,442 shares of the company’s stock worth $56,772,000 after acquiring an additional 13,416 shares during the last quarter. Gilliland Jeter Wealth Management LLC acquired a new position in shares of Philip Morris International in the fourth quarter worth about $1,251,000. Nebula Research & Development LLC purchased a new position in Philip Morris International in the fourth quarter valued at about $857,000. Finally, AJOVista LLC acquired a new stake in Philip Morris International during the 4th quarter valued at approximately $137,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PM shares. Stifel Nicolaus upped their target price on Philip Morris International from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Argus restated a “hold” rating on shares of Philip Morris International in a research note on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $104.22.

Insider Buying and Selling

In related news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $17,205,859.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.14% of the company’s stock.

Philip Morris International Price Performance

Philip Morris International stock opened at $101.64 on Wednesday. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $104.90. The company has a fifty day moving average price of $100.22 and a two-hundred day moving average price of $94.99. The company has a market cap of $158.01 billion, a PE ratio of 19.85, a P/E/G ratio of 2.08 and a beta of 0.58.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.41 by $0.09. Philip Morris International had a net margin of 8.58% and a negative return on equity of 113.26%. The business had revenue of $8.79 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same period in the previous year, the business posted $1.38 EPS. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Equities research analysts anticipate that Philip Morris International Inc. will post 6.32 earnings per share for the current year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Friday, June 21st will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date of this dividend is Friday, June 21st. Philip Morris International’s payout ratio is 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.