Headlands Technologies LLC Sells 22,249 Shares of Philip Morris International Inc. (NYSE:PM)

Key Points

• Headlands Technologies LLC cut its position in Philip Morris International by 84.7%, owning only 4,025 shares after selling 22,249 shares during the first quarter.
• Several institutional investors, including Waycross Partners LLC and Deutsche Bank AG, adjusted their stakes in Philip Morris, with Deutsche Bank increasing its position by 32.7%.
• Philip Morris reported $1.91 earnings per share for the last quarter, surpassing expectations, while its annual dividend yield stands at 3.2%.

Headlands Technologies LLC cut its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 84.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,025 shares of the company's stock after selling 22,249 shares during the period. Headlands Technologies LLC's holdings in Philip Morris International were worth $639,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Philip Morris International by 0.9% during the first quarter. Vanguard Group Inc. now owns 140,621,675 shares of the company's stock worth $22,320,878,000 after acquiring an additional 1,189,283 shares during the last quarter. Capital World Investors boosted its position in shares of Philip Morris International by 3.6% during the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company's stock worth $14,752,926,000 after acquiring an additional 4,216,586 shares during the last quarter. Northern Trust Corp boosted its position in shares of Philip Morris International by 11.0% during the fourth quarter. Northern Trust Corp now owns 13,630,177 shares of the company's stock worth $1,640,392,000 after acquiring an additional 1,347,503 shares during the last quarter. Fayez Sarofim & Co boosted its position in shares of Philip Morris International by 7.1% during the fourth quarter. Fayez Sarofim & Co now owns 10,313,383 shares of the company's stock worth $1,241,216,000 after acquiring an additional 685,431 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Philip Morris International by 57.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company's stock worth $1,554,686,000 after acquiring an additional 3,575,158 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PM has been the subject of a number of research reports. Wall Street Zen lowered shares of Philip Morris International from a "buy" rating to a "hold" rating in a research report on Saturday. Stifel Nicolaus upped their price objective on Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Jefferies Financial Group started coverage on Philip Morris International in a report on Wednesday, July 9th. They set a "buy" rating and a $220.00 price objective on the stock. KGI Securities started coverage on Philip Morris International in a report on Monday, August 4th. They set an "outperform" rating on the stock. Finally, Barclays decreased 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. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Philip Morris International has an average rating of "Moderate Buy" and an average target price of $186.27.

Philip Morris International Trading Up 1.2%

Shares of NYSE PM traded up $2.06 during trading hours on Friday, hitting $170.23. 3,774,105 shares of the company traded hands, compared to its average volume of 7,028,849. The stock has a market capitalization of $264.98 billion, a price-to-earnings ratio of 32.36, a price-to-earnings-growth ratio of 2.48 and a beta of 0.48. The company's 50 day moving average price is $176.29 and its 200 day moving average price is $163.71. Philip Morris International Inc. has a 12 month low of $115.62 and a 12 month high of $186.69.

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

Philip Morris International Announces Dividend

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

About Philip Morris International

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.