Hexagon Capital Partners LLC Has $1.71 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Hexagon Capital Partners LLC lessened its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 14.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,796 shares of the company's stock after selling 1,789 shares during the period. Philip Morris International makes up about 0.3% of Hexagon Capital Partners LLC's portfolio, making the stock its 25th largest holding. Hexagon Capital Partners LLC's holdings in Philip Morris International were worth $1,714,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pacifica Partners Inc. lifted its stake 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 during the last quarter. Redmont Wealth Advisors LLC bought a new position in Philip Morris International in the 1st quarter valued at approximately $35,000. Inlight Wealth Management LLC bought a new position in Philip Morris International in the 1st quarter valued at approximately $38,000. Ameriflex Group Inc. bought a new position in Philip Morris International in the 4th quarter valued at approximately $36,000. Finally, Knuff & Co LLC bought a new position in Philip Morris International in the 4th quarter valued at approximately $36,000. Institutional investors own 78.63% of the company's stock.

Philip Morris International Price Performance

Shares of PM traded up $3.09 during trading hours on Friday, hitting $179.00. 2,734,143 shares of the stock were exchanged, compared to its average volume of 5,642,713. Philip Morris International Inc. has a fifty-two week low of $101.62 and a fifty-two week high of $186.69. The business has a 50-day moving average of $177.14 and a 200-day moving average of $154.80. The firm has a market capitalization of $278.61 billion, a P/E ratio of 36.91, a price-to-earnings-growth ratio of 2.59 and a beta of 0.51.

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, topping the consensus estimate of $1.61 by $0.08. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The company had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $9.10 billion. During the same period in the prior year, the company posted $1.50 earnings per share. Philip Morris International's revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend 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 Ratings Changes

Several brokerages recently commented on PM. Bank of America increased their price objective on shares of Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Citigroup raised their price target on shares of Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, April 16th. Needham & Company LLC assumed coverage on shares of Philip Morris International in a research note on Thursday, May 22nd. They set a "buy" rating for the company. Morgan Stanley reaffirmed an "overweight" rating and set a $182.00 price target (up previously from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Finally, Stifel Nicolaus raised 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 note on Thursday, April 24th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Philip Morris International presently has an average rating of "Moderate Buy" and an average price target of $176.80.

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.