DAVENPORT & Co LLC cut its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 30.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 872,613 shares of the company's stock after selling 388,241 shares during the period. Philip Morris International comprises about 0.8% of DAVENPORT & Co LLC's portfolio, making the stock its 29th biggest position. DAVENPORT & Co LLC owned about 0.06% of Philip Morris International worth $137,924,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. NewSquare Capital LLC boosted its holdings in Philip Morris International by 53.7% in the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company's stock valued at $25,000 after purchasing an additional 72 shares during the period. Pacifica Partners Inc. raised its position 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. Inlight Wealth Management LLC purchased a new position in shares of Philip Morris International in the 1st quarter valued at about $38,000. Ameriflex Group Inc. acquired a new position in shares of Philip Morris International during the fourth quarter worth about $36,000. Finally, Knuff & Co LLC purchased a new stake in shares of Philip Morris International during the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 78.63% of the company's stock.
Philip Morris International Trading Up 1.8%
Shares of Philip Morris International stock traded up $3.09 on Thursday, hitting $179.00. The stock had a trading volume of 2,732,361 shares, compared to its average volume of 5,618,529. The stock has a market cap of $278.61 billion, a price-to-earnings ratio of 36.91, a P/E/G ratio of 2.57 and a beta of 0.51. Philip Morris International Inc. has a 52-week low of $100.80 and a 52-week high of $186.69. The company's 50 day moving average price is $176.79 and its 200 day moving average price is $153.86.
Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.08. The business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.10 billion. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The company's revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.50 earnings per share. Analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.
Philip Morris International Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.02%. The ex-dividend date is Friday, June 27th. Philip Morris International's dividend payout ratio (DPR) is presently 111.34%.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on PM shares. Needham & Company LLC started coverage on shares of Philip Morris International in a research note on Thursday, May 22nd. They issued a "buy" rating for the company. Barclays reaffirmed an "overweight" rating and set a $220.00 price objective (up from $205.00) on shares of Philip Morris International in a research report on Friday, June 13th. Wall Street Zen raised Philip Morris International from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Argus upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. Finally, UBS Group raised Philip Morris International from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $130.00 to $170.00 in a research report on Friday, April 25th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $176.80.
Read Our Latest Report on PM
About Philip Morris International
(
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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