11,613 Shares in Philip Morris International Inc. (NYSE:PM) Acquired by Elevate Capital Advisors LLC

Elevate Capital Advisors LLC acquired a new stake in Philip Morris International Inc. (NYSE:PM) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 11,613 shares of the company’s stock, valued at approximately $1,398,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Philip Morris International by 0.4% in the third quarter. State Street Corp now owns 54,711,621 shares of the company’s stock valued at $6,715,237,000 after buying an additional 224,840 shares during the last quarter. Geode Capital Management LLC increased its position in Philip Morris International by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 32,101,324 shares of the company’s stock valued at $3,886,818,000 after acquiring an additional 621,034 shares in the last quarter. FMR LLC raised its stake in shares of Philip Morris International by 40.9% in the third quarter. FMR LLC now owns 23,168,446 shares of the company’s stock worth $2,812,649,000 after acquiring an additional 6,721,094 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Philip Morris International by 3.0% during the third quarter. Franklin Resources Inc. now owns 13,000,570 shares of the company’s stock worth $1,560,752,000 after purchasing an additional 376,406 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Philip Morris International by 57.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock valued at $1,121,932,000 after purchasing an additional 3,363,454 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Shares of NYSE PM opened at $144.40 on Monday. The firm has a 50 day moving average price of $125.66 and a 200 day moving average price of $123.97. The stock has a market cap of $224.51 billion, a P/E ratio of 32.02, a P/E/G ratio of 2.55 and a beta of 0.55. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $146.78.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.06. Philip Morris International had a net margin of 9.24% and a negative return on equity of 120.08%. Analysts predict that Philip Morris International Inc. will post 7.11 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, December 26th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is presently 119.73%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Morgan Stanley initiated coverage on shares of Philip Morris International in a research report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price objective for the company. UBS Group upped their price target on Philip Morris International from $105.00 to $120.00 and gave the company a “sell” rating in a research note on Friday. JPMorgan Chase & Co. raised their price target on Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Barclays dropped their price objective on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, Stifel Nicolaus raised their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.35.

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.