Kovack Advisors Inc. Purchases 624 Shares of Philip Morris International Inc. (NYSE:PM)

Kovack Advisors Inc. increased its position in shares of Philip Morris International Inc. (NYSE:PM) by 10.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,600 shares of the company’s stock after purchasing an additional 624 shares during the period. Kovack Advisors Inc.’s holdings in Philip Morris International were worth $605,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. PFG Investments LLC lifted its position in Philip Morris International by 1.9% during the fourth quarter. PFG Investments LLC now owns 5,951 shares of the company’s stock valued at $560,000 after purchasing an additional 109 shares during the last quarter. CGC Financial Services LLC grew its position in Philip Morris International by 8.2% in the fourth quarter. CGC Financial Services LLC now owns 1,453 shares of the company’s stock worth $137,000 after acquiring an additional 110 shares in the last quarter. Raleigh Capital Management Inc. grew its position in Philip Morris International by 0.3% in the third quarter. Raleigh Capital Management Inc. now owns 36,857 shares of the company’s stock worth $3,412,000 after acquiring an additional 112 shares in the last quarter. Bluesphere Advisors LLC increased its stake in Philip Morris International by 0.7% during the fourth quarter. Bluesphere Advisors LLC now owns 17,000 shares of the company’s stock worth $1,599,000 after acquiring an additional 113 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. raised its position in Philip Morris International by 0.4% during the fourth quarter. Pekin Hardy Strauss Inc. now owns 29,316 shares of the company’s stock valued at $2,758,000 after purchasing an additional 113 shares during the period. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

PM stock traded down $0.22 during midday trading on Thursday, hitting $101.42. 1,647,837 shares of the stock traded hands, compared to its average volume of 4,800,795. The stock’s fifty day simple moving average is $100.30 and its 200-day simple moving average is $95.04. The firm has a market cap of $157.66 billion, a P/E ratio of 19.80, a PEG ratio of 2.09 and a beta of 0.58. Philip Morris International Inc. has a 1-year low of $87.23 and a 1-year high of $104.90.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09. The firm had revenue of $8.79 billion for 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%. The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.38 EPS. On average, research analysts predict that Philip Morris International Inc. will post 6.32 earnings per share for the current year.

Philip Morris International Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, June 21st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.13%. Philip Morris International’s dividend payout ratio (DPR) is presently 101.56%.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus lifted their price objective on shares of Philip Morris International from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International has an average rating of “Hold” and an average target price of $104.22.

Insider Buying and Selling at Philip Morris International

In other news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $96.42, for a total transaction of $1,928,400.00. Following the sale, the insider now 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 can be accessed through this link. 0.14% of the stock is owned by company insiders.

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.