Envestnet Portfolio Solutions Inc. Buys 10,722 Shares of Philip Morris International Inc. (NYSE:PM)

Envestnet Portfolio Solutions Inc. grew its stake in shares of Philip Morris International Inc. (NYSE:PM) by 4.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 238,652 shares of the company’s stock after buying an additional 10,722 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Philip Morris International were worth $21,865,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Empirical Finance LLC lifted its holdings in shares of Philip Morris International by 3.5% during the 1st quarter. Empirical Finance LLC now owns 56,069 shares of the company’s stock valued at $5,137,000 after purchasing an additional 1,885 shares in the last quarter. Duality Advisers LP lifted its holdings in shares of Philip Morris International by 165.6% during the 1st quarter. Duality Advisers LP now owns 38,644 shares of the company’s stock valued at $3,541,000 after purchasing an additional 24,093 shares in the last quarter. CFO4Life Group LLC lifted its holdings in shares of Philip Morris International by 6.5% during the 1st quarter. CFO4Life Group LLC now owns 4,624 shares of the company’s stock valued at $424,000 after purchasing an additional 281 shares in the last quarter. Advisory Alpha LLC lifted its holdings in shares of Philip Morris International by 48.9% during the 1st quarter. Advisory Alpha LLC now owns 3,667 shares of the company’s stock valued at $336,000 after purchasing an additional 1,204 shares in the last quarter. Finally, Advisors Capital Management LLC lifted its holdings in shares of Philip Morris International by 7.7% during the 1st quarter. Advisors Capital Management LLC now owns 639,689 shares of the company’s stock valued at $58,608,000 after purchasing an additional 45,805 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Philip Morris International stock traded up $0.95 during midday trading on Friday, reaching $105.95. The stock had a trading volume of 3,536,464 shares, compared to its average volume of 5,379,059. The stock has a market capitalization of $164.71 billion, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. Philip Morris International Inc. has a 1-year low of $87.23 and a 1-year high of $106.63. The firm’s fifty day simple moving average is $101.16 and its 200-day simple moving average is $95.45.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate 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 quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.38 EPS. On average, sell-side analysts anticipate that Philip Morris International Inc. will post 6.32 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Friday, June 21st were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.91%. The ex-dividend date was Friday, June 21st. Philip Morris International’s dividend payout ratio (DPR) is 101.56%.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus lifted 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $104.22.

Insiders Place Their Bets

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $96.42, for a total transaction of $1,928,400.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

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.