CenterBook Partners LP Sells 16,114 Shares of Philip Morris International Inc. (NYSE:PM)

CenterBook Partners LP cut its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 9.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 157,066 shares of the company's stock after selling 16,114 shares during the quarter. Philip Morris International makes up about 1.6% of CenterBook Partners LP's holdings, making the stock its 8th biggest position. CenterBook Partners LP's holdings in Philip Morris International were worth $24,931,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PM. Vanguard Group Inc. lifted its holdings in Philip Morris International by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 140,621,675 shares of the company's stock valued at $22,320,878,000 after purchasing an additional 1,189,283 shares during the last quarter. Capital World Investors raised its stake in shares of Philip Morris International by 3.6% in the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company's stock worth $14,752,926,000 after acquiring an additional 4,216,586 shares during the last quarter. GQG Partners LLC raised its stake in shares of Philip Morris International by 14.3% in the fourth quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock worth $5,866,678,000 after acquiring an additional 6,092,558 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Philip Morris International by 9.9% in the fourth quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company's stock worth $4,241,837,000 after acquiring an additional 3,185,258 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Philip Morris International by 3.1% in the fourth quarter. Wellington Management Group LLP now owns 17,276,790 shares of the company's stock worth $2,079,262,000 after acquiring an additional 516,617 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PM. JPMorgan Chase & Co. boosted their price target on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research note on Thursday. UBS Group raised shares of Philip Morris International from a "sell" rating to a "neutral" rating and upped their target price for the company from $130.00 to $170.00 in a research note on Friday, April 25th. Jefferies Financial Group assumed coverage on shares of Philip Morris International in a research note on Wednesday, July 9th. They issued a "buy" rating and a $220.00 target price for the company. Needham & Company LLC assumed coverage on shares of Philip Morris International in a research note on Thursday, May 22nd. They issued a "buy" rating for the company. Finally, Barclays upped their target price on shares of Philip Morris International from $220.00 to $225.00 and gave the company an "overweight" rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $185.73.

Philip Morris International Stock Down 0.7%

Shares of NYSE:PM opened at $179.73 on Monday. The company's 50 day moving average price is $178.05 and its two-hundred day moving average price is $157.00. Philip Morris International Inc. has a 12-month low of $104.84 and a 12-month high of $186.69. The firm has a market cap of $279.75 billion, a PE ratio of 37.06, a PEG ratio of 2.60 and a beta of 0.51.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.08. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. Philip Morris International's revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.50 earnings per share. On average, research analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.00%. Philip Morris International's dividend payout ratio (DPR) is presently 111.34%.

Philip Morris International Company 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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