Red Door Wealth Management LLC Grows Position in Philip Morris International Inc. (NYSE:PM)

Red Door Wealth Management LLC boosted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 5.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,742 shares of the company’s stock after purchasing an additional 982 shares during the period. Red Door Wealth Management LLC’s holdings in Philip Morris International were worth $2,256,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. FMR LLC lifted its position in Philip Morris International by 40.9% during the third quarter. FMR LLC now owns 23,168,446 shares of the company’s stock valued at $2,812,649,000 after buying an additional 6,721,094 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Philip Morris International by 57.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock valued at $1,121,932,000 after acquiring an additional 3,363,454 shares in the last quarter. National Bank of Canada FI boosted its position in Philip Morris International by 161.6% during the 3rd quarter. National Bank of Canada FI now owns 1,943,460 shares of the company’s stock worth $235,936,000 after purchasing an additional 1,200,636 shares during the period. Los Angeles Capital Management LLC increased its holdings in Philip Morris International by 14,611.4% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,173,531 shares of the company’s stock valued at $142,467,000 after purchasing an additional 1,165,554 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Philip Morris International by 13,666.6% in the 3rd quarter. International Assets Investment Management LLC now owns 999,729 shares of the company’s stock valued at $121,367,000 after purchasing an additional 992,467 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Performance

PM opened at $125.36 on Friday. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $134.15. The company has a 50-day moving average of $125.38 and a 200-day moving average of $121.77. The company has a market capitalization of $194.92 billion, a P/E ratio of 19.90, a PEG ratio of 2.03 and a beta of 0.54.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.09. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The firm had revenue of $9.91 billion for the quarter, compared to analysts’ expectations of $9.68 billion. During the same quarter in the prior year, the firm posted $1.67 earnings per share. Philip Morris International’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, sell-side analysts expect that Philip Morris International Inc. will post 6.5 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently declared 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 4.31%. The ex-dividend date was Thursday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is 85.71%.

Wall Street Analysts Forecast Growth

PM has been the topic of a number of recent research reports. Morgan Stanley started coverage on Philip Morris International in a research note on Thursday, January 16th. They set an “overweight” rating and a $140.00 price objective on the stock. The Goldman Sachs Group boosted their price target on Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Citigroup increased their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their target price on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, UBS Group upped their target price on shares of Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.35.

About Philip Morris International

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.