Charles Schwab Investment Management Inc. Lowers Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Philip Morris International by 0.2%, owning approximately 13.4 million shares valued at about $2.13 billion.
• Philip Morris International reported a quarterly earnings per share (EPS) of $1.91, exceeding the estimate of $1.86, while its quarterly revenue was around $10.14 billion, slightly below expectations.
• The company recently announced a quarterly dividend of $1.35 per share, yielding approximately 3.2%, but has a payout ratio of 102.66%.

Charles Schwab Investment Management Inc. lowered its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 0.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,402,062 shares of the company's stock after selling 20,858 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.86% of Philip Morris International worth $2,126,206,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Pacifica Partners Inc. boosted its holdings in Philip Morris International by 115.0% in the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after purchasing an additional 115 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new stake in Philip Morris International in the 1st quarter valued at approximately $35,000. Ball & Co Wealth Management Inc. purchased a new stake in Philip Morris International in the 4th quarter valued at approximately $36,000. Ameriflex Group Inc. purchased a new stake in Philip Morris International in the 4th quarter valued at approximately $36,000. Finally, Inlight Wealth Management LLC purchased a new stake in Philip Morris International in the 1st quarter valued at approximately $38,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Price Performance

Shares of Philip Morris International stock opened at $167.00 on Thursday. Philip Morris International Inc. has a 1 year low of $114.20 and a 1 year high of $186.69. The company has a market capitalization of $259.96 billion, a P/E ratio of 31.75, a P/E/G ratio of 2.39 and a beta of 0.48. The business has a 50 day moving average price of $176.70 and a 200 day moving average price of $162.53.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.05. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. The firm had revenue of $10.14 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the previous year, the firm posted $1.59 EPS. The company's quarterly revenue was up 7.1% compared to the same quarter last year. As a group, research analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, June 27th. Philip Morris International's payout ratio is currently 102.66%.

Analyst Upgrades and Downgrades

PM has been the topic of a number of analyst reports. KGI Securities initiated coverage on Philip Morris International in a report on Monday. They issued an "outperform" rating on the stock. Jefferies Financial Group initiated coverage on Philip Morris International in a report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price objective on the stock. Barclays lowered their price objective on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price target on Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, Wall Street Zen raised Philip Morris International from a "hold" rating to a "buy" rating in a research note on Sunday, July 20th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $186.27.

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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