Kingsview Wealth Management LLC lowered its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 45.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,167 shares of the company's stock after selling 16,898 shares during the quarter. Kingsview Wealth Management LLC's holdings in Philip Morris International were worth $3,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Pacifica Partners Inc. lifted its position in Philip Morris International by 115.0% during the first 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 period. Redmont Wealth Advisors LLC bought a new position in Philip Morris International in the first quarter worth approximately $35,000. Ball & Co Wealth Management Inc. bought a new position in Philip Morris International in the fourth quarter worth approximately $36,000. Ameriflex Group Inc. bought a new position in Philip Morris International in the fourth quarter worth approximately $36,000. Finally, Inlight Wealth Management LLC bought a new position in Philip Morris International in the first quarter worth approximately $38,000. Hedge funds and other institutional investors own 78.63% of the company's stock.
Philip Morris International Price Performance
Shares of NYSE PM traded down $0.42 during midday trading on Friday, hitting $178.75. The company's stock had a trading volume of 4,649,814 shares, compared to its average volume of 5,666,761. The business's fifty day simple moving average is $178.83 and its two-hundred day simple moving average is $158.57. The firm has a market capitalization of $278.23 billion, a price-to-earnings ratio of 36.86, a price-to-earnings-growth ratio of 2.56 and a beta of 0.51. Philip Morris International Inc. has a 1 year low of $106.76 and a 1 year high of $186.69.
Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.08. The company had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $9.10 billion. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $1.50 earnings per share. Analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.
Philip Morris International Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a yield of 3.02%. Philip Morris International's payout ratio is currently 111.34%.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on PM shares. Stifel Nicolaus increased their price objective on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. UBS Group set a $181.00 price objective on shares of Philip Morris International and gave the company a "neutral" rating in a research report on Monday, July 14th. Morgan Stanley reiterated an "overweight" rating and set a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Needham & Company LLC initiated coverage on shares of Philip Morris International in a research report on Thursday, May 22nd. They set a "buy" rating for the company. Finally, 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 report on Wednesday, June 4th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Philip Morris International currently has an average rating of "Moderate Buy" and an average price target of $186.73.
Get Our Latest Research Report on PM
Philip Morris International Company Profile
(
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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