Avior Wealth Management LLC lowered its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 72.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,684 shares of the company's stock after selling 7,093 shares during the period. Avior Wealth Management LLC's holdings in Philip Morris International were worth $426,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of PM. GQG Partners LLC lifted its stake in Philip Morris International by 14.3% in the 4th quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock valued at $5,866,678,000 after buying an additional 6,092,558 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Philip Morris International by 19,986.5% in the first quarter. GAMMA Investing LLC now owns 4,486,928 shares of the company's stock valued at $712,210,000 after acquiring an additional 4,464,590 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Philip Morris International in the fourth quarter worth approximately $522,214,000. Kovitz Investment Group Partners LLC increased its position in shares of Philip Morris International by 372.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,453,285 shares of the company's stock worth $656,303,000 after purchasing an additional 4,298,530 shares in the last quarter. Finally, Capital World Investors raised its stake in Philip Morris International by 3.6% in the 4th quarter. Capital World Investors now owns 122,584,210 shares of the company's stock valued at $14,752,926,000 after purchasing an additional 4,216,586 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.
Philip Morris International Stock Up 0.6%
Shares of Philip Morris International stock traded up $1.01 during mid-day trading on Thursday, hitting $180.61. The stock had a trading volume of 5,801,809 shares, compared to its average volume of 5,610,718. The firm has a 50-day moving average of $175.25 and a two-hundred day moving average of $152.07. The firm has a market cap of $281.13 billion, a P/E ratio of 37.24, a price-to-earnings-growth ratio of 2.60 and a beta of 0.52. Philip Morris International Inc. has a 12-month low of $100.80 and a 12-month high of $186.69.
Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.08. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The company had revenue of $9.30 billion during the quarter, compared to analyst estimates of $9.10 billion. During the same period in the prior year, the business posted $1.50 earnings per share. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. Sell-side analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.
Philip Morris International Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Friday, June 27th. Philip Morris International's payout ratio is 111.34%.
Analyst Ratings Changes
Several equities research analysts have issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Morgan Stanley restated an "overweight" rating and set a $182.00 price target (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Citigroup upped their price objective on shares of Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, April 16th. UBS Group raised shares of Philip Morris International from a "sell" rating to a "neutral" rating and raised their target price for the stock from $130.00 to $170.00 in a research note on Friday, April 25th. Finally, Bank of America upped their price target on Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $176.80.
Read Our Latest Stock Analysis on PM
Philip Morris International Company Profile
(
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.
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