Cornerstone Wealth Group LLC lessened its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 17.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,438 shares of the company's stock after selling 6,698 shares during the quarter. Cornerstone Wealth Group LLC's holdings in Philip Morris International were worth $5,149,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. NewSquare Capital LLC lifted its holdings in shares of Philip Morris International by 53.7% during the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company's stock worth $25,000 after acquiring an additional 72 shares during the last quarter. Pacifica Partners Inc. raised 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 worth $35,000 after purchasing an additional 115 shares in the last quarter. Knuff & Co LLC bought a new stake in shares of Philip Morris International during the 4th quarter valued at about $36,000. Ball & Co Wealth Management Inc. purchased a new position in shares of Philip Morris International during the fourth quarter valued at about $36,000. Finally, Ameriflex Group Inc. bought a new stake in Philip Morris International during the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 78.63% of the company's stock.
Philip Morris International Price Performance
Philip Morris International stock traded down $4.70 during mid-day trading on Wednesday, reaching $179.79. 5,110,955 shares of the stock traded hands, compared to its average volume of 5,611,237. Philip Morris International Inc. has a 12-month low of $100.80 and a 12-month high of $186.69. The business's 50-day moving average is $174.86 and its 200-day moving average is $151.88. The stock has a market capitalization of $279.85 billion, a PE ratio of 37.07, a price-to-earnings-growth ratio of 2.68 and a beta of 0.52.
Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.61 by $0.08. The firm had revenue of $9.30 billion during 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%. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.50 EPS. Equities analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.
Philip Morris International Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.00%. The ex-dividend date is Friday, June 27th. Philip Morris International's dividend payout ratio is presently 111.34%.
Analyst Ratings Changes
Several research analysts have recently issued reports on the company. Morgan Stanley reissued an "overweight" rating and issued a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Stifel Nicolaus lifted their price target on shares of Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Bank of America lifted their target price on shares of Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Argus upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. Finally, Needham & Company LLC initiated coverage on Philip Morris International in a report on Thursday, May 22nd. They set a "buy" rating for the company. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $176.80.
Read Our Latest Stock Analysis on Philip Morris International
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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