Cooke & Bieler LP Decreases Stock Position in Philip Morris International Inc. (NYSE:PM)

Cooke & Bieler LP lessened its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 20.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,090,977 shares of the company's stock after selling 286,144 shares during the quarter. Philip Morris International accounts for approximately 1.7% of Cooke & Bieler LP's holdings, making the stock its 18th biggest position. Cooke & Bieler LP owned approximately 0.07% of Philip Morris International worth $173,171,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. 49 Wealth Management LLC raised its position in Philip Morris International by 79.0% in the 1st quarter. 49 Wealth Management LLC now owns 5,334 shares of the company's stock worth $847,000 after buying an additional 2,354 shares during the last quarter. Cortland Associates Inc. MO raised its position in Philip Morris International by 704.0% in the 1st quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company's stock worth $22,690,000 after buying an additional 125,171 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Philip Morris International by 24.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock worth $69,695,000 after buying an additional 87,631 shares during the last quarter. Brighton Jones LLC raised its position in Philip Morris International by 31.1% in the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock worth $1,027,000 after buying an additional 2,023 shares during the last quarter. Finally, Symmetry Investments LP purchased a new position in Philip Morris International in the 4th quarter worth about $1,966,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Wall Street Analyst Weigh In

PM has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. UBS Group set a $181.00 price target on Philip Morris International and gave the company a "neutral" rating in a research note on Monday. Citigroup boosted their price target on Philip Morris International from $188.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Jefferies Financial Group began coverage on Philip Morris International in a research note on Wednesday, July 9th. They set a "buy" rating and a $220.00 price target for the company. Finally, Needham & Company LLC began coverage on Philip Morris International in a research note on Thursday, May 22nd. They set a "buy" rating for the company. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $186.73.

Philip Morris International Price Performance

Shares of NYSE:PM traded down $0.42 during mid-day trading on Friday, reaching $178.75. 4,649,814 shares of the company traded hands, compared to its average volume of 5,658,777. The company's 50 day moving average price is $178.64 and its 200-day moving average price is $158.16. The firm has a market cap of $278.23 billion, a PE ratio of 36.86, a PEG ratio of 2.63 and a beta of 0.51. Philip Morris International Inc. has a 52 week low of $106.76 and a 52 week high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same period in the prior year, the company posted $1.50 EPS. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, research analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were paid a $1.35 dividend. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 annualized dividend and a yield of 3.02%. Philip Morris International's payout ratio is 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.