Philip Morris International Inc. (NYSE:PM) Shares Sold by GQG Partners LLC

Key Points

• GQG Partners LLC reduced its holdings in Philip Morris International by 0.5%, now owning approximately 48.5 million shares, which constitutes about 12.3% of its portfolio.
• Despite recent sell-offs, Philip Morris reported a quarterly earnings per share of $1.91, surpassing analyst estimates, and its revenue was $10.14 billion, reflecting a year-over-year increase of 7.1%.
• The company announced a quarterly dividend of $1.35 per share, translating to a dividend yield of 3.2%, although its payout ratio stands at 102.66%.

GQG Partners LLC lowered its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 0.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,516,029 shares of the company's stock after selling 230,780 shares during the period. Philip Morris International makes up approximately 12.3% of GQG Partners LLC's investment portfolio, making the stock its largest holding. GQG Partners LLC owned 3.12% of Philip Morris International worth $7,700,949,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd purchased a new stake in Philip Morris International in the 1st quarter worth approximately $34,000. Pacifica Partners Inc. boosted 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 worth $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 worth approximately $35,000. Ball & Co Wealth Management Inc. purchased a new stake in Philip Morris International in the 4th quarter worth approximately $36,000. Finally, Ameriflex Group Inc. purchased a new stake in Philip Morris International in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Price Performance

NYSE PM traded down $0.66 during mid-day trading on Thursday, hitting $165.22. The stock had a trading volume of 3,294,940 shares, compared to its average volume of 7,054,380. The firm's 50 day moving average is $175.15 and its 200 day moving average is $164.30. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69. The stock has a market capitalization of $257.18 billion, a price-to-earnings ratio of 31.41, a PEG ratio of 2.41 and a beta of 0.48.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, beating 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 prior year, the company earned $1.59 EPS. The firm's revenue was up 7.1% compared to the same quarter last year. As a group, equities research analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International's dividend payout ratio is currently 102.66%.

Analysts Set New Price Targets

PM has been the topic of several recent research reports. Jefferies Financial Group initiated coverage on Philip Morris International in a research report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price objective on the stock. Morgan Stanley reiterated an "overweight" rating and set 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 increased their target price on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Wall Street Zen lowered Philip Morris International from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, JPMorgan Chase & Co. increased their target price on Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target 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.