Philip Morris International Inc. (NYSE:PM) Shares Bought by Narwhal Capital Management

Narwhal Capital Management grew its position in shares of Philip Morris International Inc. (NYSE:PM) by 22.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 85,609 shares of the company’s stock after purchasing an additional 15,539 shares during the quarter. Philip Morris International makes up about 1.2% of Narwhal Capital Management’s holdings, making the stock its 21st largest position. Narwhal Capital Management’s holdings in Philip Morris International were worth $13,589,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC boosted its stake in Philip Morris International by 31.1% during the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock worth $1,027,000 after purchasing an additional 2,023 shares during the period. Revolve Wealth Partners LLC boosted its stake in shares of Philip Morris International by 4.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock worth $252,000 after buying an additional 91 shares during the period. Navellier & Associates Inc. boosted its stake in shares of Philip Morris International by 63.7% during the fourth quarter. Navellier & Associates Inc. now owns 5,335 shares of the company’s stock worth $642,000 after buying an additional 2,075 shares during the period. Callan Capital LLC grew its holdings in shares of Philip Morris International by 6.8% during the fourth quarter. Callan Capital LLC now owns 3,854 shares of the company’s stock worth $464,000 after buying an additional 246 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in Philip Morris International by 1.3% in the 4th quarter. First Horizon Advisors Inc. now owns 217,583 shares of the company’s stock valued at $26,186,000 after acquiring an additional 2,849 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

PM has been the subject of several analyst reports. Stifel Nicolaus upped their price objective on Philip Morris International from $168.00 to $186.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. Bank of America upped their price target on Philip Morris International from $182.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Needham & Company LLC initiated coverage on Philip Morris International in a report on Thursday, May 22nd. They set a “buy” rating for the company. Wall Street Zen raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, 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 report on Friday, June 13th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.80.

Philip Morris International Stock Performance

Shares of NYSE PM opened at $182.57 on Monday. Philip Morris International Inc. has a one year low of $99.86 and a one year high of $186.69. The firm has a market capitalization of $284.18 billion, a P/E ratio of 37.64, a PEG ratio of 2.66 and a beta of 0.52. The company’s fifty day moving average is $173.82 and its two-hundred day moving average is $151.27.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.08. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The firm had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter in the previous year, the firm earned $1.50 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International’s dividend payout ratio is currently 111.34%.

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.