Cornerstone Wealth Group LLC Increases Stock Position in Philip Morris International Inc. (NYSE:PM)

Cornerstone Wealth Group LLC increased its position in Philip Morris International Inc. (NYSE:PM) by 24.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,014 shares of the company’s stock after acquiring an additional 1,391 shares during the period. Cornerstone Wealth Group LLC’s holdings in Philip Morris International were worth $643,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners purchased a new position in Philip Morris International in the 4th quarter worth approximately $33,000. Northwest Financial Advisors purchased a new position in Philip Morris International in the 4th quarter worth approximately $33,000. Ables Iannone Moore & Associates Inc. purchased a new position in Philip Morris International in the 4th quarter worth approximately $38,000. Wetzel Investment Advisors Inc. purchased a new position in Philip Morris International in the 4th quarter worth approximately $39,000. Finally, Quarry LP grew its position in Philip Morris International by 307.5% in the 4th quarter. Quarry LP now owns 436 shares of the company’s stock worth $41,000 after purchasing an additional 329 shares during the period. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Trading Down 0.2 %

Shares of NYSE:PM opened at $101.33 on Monday. The company has a market capitalization of $157.52 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 2.08 and a beta of 0.58. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $104.90. The firm’s 50-day moving average is $100.08 and its 200 day moving average is $94.94.

Philip Morris International (NYSE:PM) last issued 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. The company had revenue of $8.79 billion for the quarter, compared to the consensus estimate of $8.44 billion. Philip Morris International had a net margin of 8.58% and a negative return on equity of 113.26%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.38 EPS. As a group, equities analysts forecast that Philip Morris International Inc. will post 6.32 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Friday, June 21st will be paid a $1.30 dividend. The ex-dividend date is Friday, June 21st. This represents a $5.20 dividend on an annualized basis and a yield of 5.13%. Philip Morris International’s dividend payout ratio is currently 101.56%.

Insiders Place Their Bets

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $96.42, for a total value of $1,928,400.00. Following the transaction, the insider now directly owns 178,447 shares in the company, valued at approximately $17,205,859.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on PM. Stifel Nicolaus lifted their target price on shares of Philip Morris International from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Argus reissued a “hold” rating on shares of Philip Morris International in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $104.22.

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.