Latitude Advisors LLC Has $407,000 Holdings in Philip Morris International Inc. (NYSE:PM)

Latitude Advisors LLC grew its holdings in Philip Morris International Inc. (NYSE:PM) by 3.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,561 shares of the company’s stock after buying an additional 96 shares during the period. Latitude Advisors LLC’s holdings in Philip Morris International were worth $407,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. R.H. Investment Group LLC raised its stake in Philip Morris International by 0.7% in the 1st quarter. R.H. Investment Group LLC now owns 44,817 shares of the company’s stock valued at $7,114,000 after acquiring an additional 322 shares during the period. Revisor Wealth Management LLC acquired a new position in Philip Morris International in the 1st quarter valued at about $229,000. Novem Group grew its stake in Philip Morris International by 75.9% in the 1st quarter. Novem Group now owns 5,809 shares of the company’s stock valued at $922,000 after buying an additional 2,506 shares during the last quarter. Weaver Consulting Group acquired a new stake in Philip Morris International during the first quarter worth approximately $210,000. Finally, Kanawha Capital Management LLC boosted its holdings in shares of Philip Morris International by 8.0% during the first quarter. Kanawha Capital Management LLC now owns 7,984 shares of the company’s stock worth $1,267,000 after acquiring an additional 589 shares during the period. 78.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PM has been the subject of several recent research reports. UBS Group upgraded Philip Morris International from a “sell” rating to a “neutral” rating and boosted their price target for the company from $130.00 to $170.00 in a research note on Friday, April 25th. Barclays reaffirmed an “overweight” rating and set a $220.00 price target (up from $205.00) on shares of Philip Morris International in a research report on Friday, June 13th. Wall Street Zen raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Saturday, June 21st. Citigroup lifted their price target on shares of Philip Morris International from $163.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 16th. Finally, Needham & Company LLC started coverage on Philip Morris International in a research note on Thursday, May 22nd. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $176.80.

Philip Morris International Stock Down 0.8%

NYSE:PM opened at $176.03 on Thursday. Philip Morris International Inc. has a twelve month low of $100.80 and a twelve month high of $186.69. The stock’s 50-day simple moving average is $176.79 and its 200 day simple moving average is $153.86. The firm has a market capitalization of $273.99 billion, a PE ratio of 36.29, a price-to-earnings-growth ratio of 2.57 and a beta of 0.51.

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

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Friday, June 27th. Philip Morris International’s dividend payout ratio (DPR) is 111.34%.

Philip Morris International 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.