Redmont Wealth Advisors LLC Invests $35,000 in Philip Morris International Inc. (NYSE:PM)

Redmont Wealth Advisors LLC purchased a new stake in Philip Morris International Inc. (NYSE:PM) in the 1st quarter, HoldingsChannel reports. The fund purchased 219 shares of the company’s stock, valued at approximately $35,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GQG Partners LLC lifted its holdings in shares of Philip Morris International by 14.3% in the fourth quarter. GQG Partners LLC now owns 48,746,809 shares of the company’s stock valued at $5,866,678,000 after purchasing an additional 6,092,558 shares in the last quarter. GAMMA Investing LLC raised its position in Philip Morris International by 19,986.5% during the first quarter. GAMMA Investing LLC now owns 4,486,928 shares of the company’s stock valued at $712,210,000 after buying an additional 4,464,590 shares during the period. Raymond James Financial Inc. acquired a new position in Philip Morris International during the fourth quarter valued at $522,214,000. Kovitz Investment Group Partners LLC lifted its stake in Philip Morris International by 372.2% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 5,453,285 shares of the company’s stock worth $656,303,000 after acquiring an additional 4,298,530 shares in the last quarter. Finally, Capital World Investors boosted its position in Philip Morris International by 3.6% during the 4th quarter. Capital World Investors now owns 122,584,210 shares of the company’s stock worth $14,752,926,000 after acquiring an additional 4,216,586 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Morgan Stanley reissued an “overweight” rating and issued a $182.00 price target (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Argus upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Friday, March 14th. Citigroup lifted their target price on shares of Philip Morris International from $163.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 16th. Barclays reaffirmed an “overweight” rating and issued a $220.00 price target (up from $205.00) on shares of Philip Morris International in a research note on Friday, June 13th. Finally, UBS Group raised Philip Morris International from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $130.00 to $170.00 in a research report on Friday, April 25th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $176.80.

Philip Morris International Trading Down 2.5%

Philip Morris International stock opened at $177.55 on Wednesday. Philip Morris International Inc. has a 1-year low of $100.80 and a 1-year high of $186.69. The firm’s fifty day simple moving average is $176.63 and its 200-day simple moving average is $153.71. The company has a market capitalization of $276.36 billion, a P/E ratio of 36.61, a P/E/G ratio of 2.64 and a beta of 0.51.

Philip Morris International (NYSE:PM) last posted its earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping the consensus estimate 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 period in the prior year, the business posted $1.50 earnings per share. The business’s quarterly revenue was up 5.8% on a year-over-year basis. On average, equities research analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International’s payout ratio is 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.