American Financial & Tax Strategies Inc. Sells 2,400 Shares of Philip Morris International Inc. (NYSE:PM)

American Financial & Tax Strategies Inc. decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 23.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,659 shares of the company's stock after selling 2,400 shares during the quarter. American Financial & Tax Strategies Inc.'s holdings in Philip Morris International were worth $1,216,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Loudon Investment Management LLC boosted its holdings in shares of Philip Morris International by 19.8% in the first quarter. Loudon Investment Management LLC now owns 3,685 shares of the company's stock valued at $585,000 after purchasing an additional 610 shares during the period. Proficio Capital Partners LLC lifted its holdings in Philip Morris International by 3.2% during the first quarter. Proficio Capital Partners LLC now owns 3,988 shares of the company's stock worth $633,000 after buying an additional 125 shares during the period. VCI Wealth Management LLC purchased a new stake in Philip Morris International during the first quarter worth $1,123,000. WMG Financial Advisors LLC purchased a new stake in Philip Morris International during the first quarter worth $260,000. Finally, United Bank purchased a new stake in Philip Morris International during the first quarter worth $218,000. Institutional investors own 78.63% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PM shares. Bank of America upped their price target on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. upped their target price on Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Morgan Stanley reissued an "overweight" rating and issued a $182.00 target price (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Wall Street Zen raised Philip Morris International from a "hold" rating to a "buy" rating in a research report on Sunday. Finally, Jefferies Financial Group began coverage on Philip Morris International in a research report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $186.73.

Philip Morris International Stock Performance

PM stock traded down $11.91 during midday trading on Tuesday, reaching $168.57. 12,890,089 shares of the company were exchanged, compared to its average volume of 5,695,199. Philip Morris International Inc. has a 1-year low of $106.76 and a 1-year high of $186.69. The stock's 50-day simple moving average is $178.83 and its 200 day simple moving average is $159.09. The company has a market cap of $262.39 billion, a price-to-earnings ratio of 34.76, a price-to-earnings-growth ratio of 2.56 and a beta of 0.51.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.05. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The company had revenue of $10.14 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter in the prior year, the firm posted $1.59 earnings per share. Philip Morris International's revenue for the quarter was up 7.1% on a year-over-year basis. On average, research analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 annualized dividend and a dividend yield of 3.20%. Philip Morris International's dividend payout ratio (DPR) is 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.

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