Cornerstone Wealth Group LLC Has $5.15 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Cornerstone Wealth Group LLC lowered its stake in Philip Morris International Inc. (NYSE:PM) by 17.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 32,438 shares of the company’s stock after selling 6,698 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Philip Morris International were worth $5,149,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in PM. Brighton Jones LLC increased its position in shares of Philip Morris International by 31.1% in the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock valued at $1,027,000 after buying an additional 2,023 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Philip Morris International by 4.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock worth $252,000 after acquiring an additional 91 shares during the period. TCW Group Inc. lifted its position in Philip Morris International by 2.6% during the fourth quarter. TCW Group Inc. now owns 21,771 shares of the company’s stock worth $2,620,000 after acquiring an additional 543 shares during the last quarter. Howard Capital Management Inc. lifted its position in Philip Morris International by 5.4% during the fourth quarter. Howard Capital Management Inc. now owns 10,406 shares of the company’s stock worth $1,252,000 after acquiring an additional 535 shares during the last quarter. Finally, MONECO Advisors LLC raised its position in shares of Philip Morris International by 24.0% in the fourth quarter. MONECO Advisors LLC now owns 3,904 shares of the company’s stock valued at $470,000 after buying an additional 755 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analyst Ratings Changes

PM has been the topic of a number of research reports. Argus raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. Bank of America increased their price objective on shares of Philip Morris International from $182.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Stifel Nicolaus increased their target price on shares of Philip Morris International from $168.00 to $186.00 and gave the company a “buy” rating in a research report on Thursday, April 24th. Needham & Company LLC assumed coverage on shares of Philip Morris International in a research report on Thursday, May 22nd. They set a “buy” rating on the stock. Finally, Wall Street Zen upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Saturday. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.80.

Philip Morris International Price Performance

PM opened at $185.18 on Tuesday. The firm has a market cap of $288.24 billion, a P/E ratio of 38.18, a PEG ratio of 2.66 and a beta of 0.52. Philip Morris International Inc. has a 1-year low of $99.86 and a 1-year high of $186.69. The company has a 50 day simple moving average of $174.37 and a two-hundred day simple moving average of $151.65.

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

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Friday, June 27th. Philip Morris International’s dividend payout ratio (DPR) is 111.34%.

Philip Morris International Company Profile

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.