Cornerstone Wealth Group LLC Has $643,000 Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Cornerstone Wealth Group LLC boosted its stake in shares of Philip Morris International Inc. (NYSE:PMFree Report) by 24.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,014 shares of the company’s stock after purchasing an additional 1,391 shares during the period. Cornerstone Wealth Group LLC’s holdings in Philip Morris International were worth $643,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of PM. Capital Research Global Investors boosted its holdings in shares of Philip Morris International by 9.1% in the 4th quarter. Capital Research Global Investors now owns 58,416,175 shares of the company’s stock valued at $5,495,794,000 after purchasing an additional 4,869,272 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Philip Morris International by 12.6% in the 3rd quarter. Wellington Management Group LLP now owns 27,821,802 shares of the company’s stock valued at $2,575,742,000 after purchasing an additional 3,121,732 shares in the last quarter. Lone Pine Capital LLC acquired a new stake in shares of Philip Morris International in the 4th quarter valued at $282,785,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Philip Morris International by 25.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,439,154 shares of the company’s stock valued at $996,104,000 after purchasing an additional 2,123,311 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Philip Morris International by 216.1% in the 4th quarter. Point72 Asset Management L.P. now owns 1,691,337 shares of the company’s stock valued at $159,121,000 after purchasing an additional 1,156,227 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Insider Transactions at Philip Morris International

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Stifel Nicolaus raised their price objective on Philip Morris International from $108.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Argus reissued a “hold” rating on shares of Philip Morris International in a report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Philip Morris International presently has a consensus rating of “Hold” and an average target price of $104.22.

Get Our Latest Analysis on Philip Morris International

Philip Morris International Stock Down 0.2 %

Shares of NYSE:PM opened at $101.33 on Monday. The firm has a market cap of $157.52 billion, a P/E ratio of 19.79, a P/E/G 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 business has a fifty day simple moving average of $100.08 and a 200 day simple moving average of $94.94.

Philip Morris International (NYSE:PMGet Free Report) last announced its earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.09. The business had revenue of $8.79 billion during the quarter, compared to analyst estimates of $8.44 billion. Philip Morris International had a negative return on equity of 113.26% and a net margin of 8.58%. Philip Morris International’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the company earned $1.38 EPS. As a group, equities research analysts expect that Philip Morris International Inc. will post 6.32 EPS for the current year.

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Friday, June 21st will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 5.13%. The ex-dividend date is Friday, June 21st. Philip Morris International’s dividend payout ratio (DPR) is presently 101.56%.

About Philip Morris International

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PMFree Report).

Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.