Hirtle Callaghan & Co LLC Sells 26,041 Shares of Philip Morris International Inc. (NYSE:PM)

Key Points

• Hirtle Callaghan & Co LLC reduced its stake in Philip Morris International Inc. by 25.9%, selling 26,041 shares and now holding a total of 74,412 shares.
• Analysts are bullish on Philip Morris, with several raising price targets, including JPMorgan increasing it from $175.00 to $190.00, while Bank of America raised theirs to $200.00.
• The company reported a quarterly earnings per share (EPS) of $1.91, exceeding expectations and showing a year-over-year revenue growth of 7.1% despite a net margin of 9.03% and a negative return on equity of 120.86%.

Hirtle Callaghan & Co LLC lowered its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 25.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 74,412 shares of the company's stock after selling 26,041 shares during the quarter. Philip Morris International comprises approximately 0.5% of Hirtle Callaghan & Co LLC's investment portfolio, making the stock its 24th biggest holding. Hirtle Callaghan & Co LLC's holdings in Philip Morris International were worth $11,811,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PM. Vanguard Group Inc. lifted its position in shares of Philip Morris International by 0.9% in the first quarter. Vanguard Group Inc. now owns 140,621,675 shares of the company's stock worth $22,320,878,000 after purchasing an additional 1,189,283 shares in the last quarter. Capital World Investors lifted its position in shares of Philip Morris International by 3.6% in the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company's stock worth $14,752,926,000 after purchasing an additional 4,216,586 shares in the last quarter. Northern Trust Corp lifted its position in shares of Philip Morris International by 11.0% in the fourth quarter. Northern Trust Corp now owns 13,630,177 shares of the company's stock worth $1,640,392,000 after purchasing an additional 1,347,503 shares in the last quarter. Fayez Sarofim & Co lifted its position in shares of Philip Morris International by 7.1% in the fourth quarter. Fayez Sarofim & Co now owns 10,313,383 shares of the company's stock worth $1,241,216,000 after purchasing an additional 685,431 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Philip Morris International by 57.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company's stock worth $1,554,686,000 after purchasing an additional 3,575,158 shares in the last quarter. Institutional investors own 78.63% of the company's stock.

Philip Morris International Stock Performance

Shares of PM stock traded up $2.06 on Friday, hitting $170.23. The company's stock had a trading volume of 3,774,105 shares, compared to its average volume of 7,011,663. The stock's 50 day moving average is $176.29 and its 200-day moving average is $163.44. Philip Morris International Inc. has a fifty-two week low of $115.62 and a fifty-two week high of $186.69. The company has a market capitalization of $264.98 billion, a PE ratio of 32.36, a PEG ratio of 2.48 and a beta of 0.48.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings results 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 net margin of 9.03% and a negative return on equity of 120.86%. The business had revenue of $10.14 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the prior year, the company posted $1.59 earnings per share. Philip Morris International's revenue was up 7.1% compared to the same quarter last year. On average, research analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Needham & Company LLC restated a "buy" rating and set a $195.00 target price on shares of Philip Morris International in a report on Wednesday, July 23rd. Bank of America boosted their target price on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Stifel Nicolaus boosted their target price on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Citigroup reiterated an "overweight" rating on shares of Philip Morris International in a report on Tuesday, July 22nd. Finally, Barclays decreased their price objective on shares of 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 analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $186.27.

Philip Morris International Company 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.