Cambridge Investment Research Advisors Inc. Has $40.43 Million Holdings in Philip Morris International Inc. (NYSE:PM)

Cambridge Investment Research Advisors Inc. increased its stake in Philip Morris International Inc. (NYSE:PM) by 14.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 254,684 shares of the company’s stock after purchasing an additional 31,973 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Philip Morris International were worth $40,426,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Kennedy Investment Group raised its stake in Philip Morris International by 3.1% during the 1st quarter. Kennedy Investment Group now owns 4,639 shares of the company’s stock worth $736,000 after buying an additional 138 shares during the period. MBE Wealth Management LLC bought a new stake in shares of Philip Morris International during the first quarter valued at approximately $219,000. Wolff Wiese Magana LLC increased its holdings in shares of Philip Morris International by 83.7% during the first quarter. Wolff Wiese Magana LLC now owns 878 shares of the company’s stock valued at $139,000 after acquiring an additional 400 shares in the last quarter. Aspire Capital Advisors LLC acquired a new position in shares of Philip Morris International during the first quarter worth approximately $226,000. Finally, EWA LLC lifted its holdings in shares of Philip Morris International by 27.8% in the 1st quarter. EWA LLC now owns 3,250 shares of the company’s stock worth $516,000 after purchasing an additional 706 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Bank of America lifted their price target on shares of Philip Morris International from $182.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. UBS Group raised shares of Philip Morris International from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $130.00 to $170.00 in a research report on Friday, April 25th. Citigroup upped their target price on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 16th. Morgan Stanley reiterated an “overweight” rating and set a $182.00 price target (up previously from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Finally, Wall Street Zen raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Saturday. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $176.80.

Philip Morris International Stock Performance

NYSE:PM opened at $182.57 on Monday. The firm has a market cap of $284.18 billion, a price-to-earnings ratio of 37.64, a price-to-earnings-growth ratio of 2.66 and a beta of 0.52. Philip Morris International Inc. has a 52 week low of $99.86 and a 52 week high of $186.69. The firm has a 50-day moving average price of $173.82 and a two-hundred day moving average price of $151.27.

Philip Morris International (NYSE:PM) last released its 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 during the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. Philip Morris International’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.50 earnings per share. As a group, sell-side analysts forecast 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a yield of 2.96%. Philip Morris International’s dividend payout ratio (DPR) is presently 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.