Koa Wealth Management LLC Decreases Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Key Points

• Koa Wealth Management LLC has reduced its holdings in Philip Morris International Inc. by 17% to a total value of $2.75 million, constituting 2.2% of its investment portfolio.
• Several institutional investors increased their stakes in Philip Morris International, with Pacifica Partners Inc. raising its investment by 115% during the first quarter.
• Philip Morris recently reported a net revenue of $10.14 billion for the quarter, but it fell short of analysts' expectations of $10.33 billion.

Koa Wealth Management LLC trimmed its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 17.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,343 shares of the company's stock after selling 3,553 shares during the period. Philip Morris International makes up 2.2% of Koa Wealth Management LLC's investment portfolio, making the stock its 13th biggest holding. Koa Wealth Management LLC's holdings in Philip Morris International were worth $2,753,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of PM. Vanguard Group Inc. boosted its holdings in Philip Morris International by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 140,621,675 shares of the company's stock valued at $22,320,878,000 after purchasing an additional 1,189,283 shares during the period. Capital World Investors boosted its holdings in Philip Morris International by 3.6% in the 4th quarter. Capital World Investors now owns 122,584,210 shares of the company's stock valued at $14,752,926,000 after purchasing an additional 4,216,586 shares during the period. Northern Trust Corp boosted its holdings in Philip Morris International by 11.0% in the 4th quarter. Northern Trust Corp now owns 13,630,177 shares of the company's stock valued at $1,640,392,000 after purchasing an additional 1,347,503 shares during the period. Fayez Sarofim & Co boosted its holdings in Philip Morris International by 7.1% in the 4th quarter. Fayez Sarofim & Co now owns 10,313,383 shares of the company's stock valued at $1,241,216,000 after purchasing an additional 685,431 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Philip Morris International by 57.5% during the 1st 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 hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PM has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $195.00 price objective on shares of Philip Morris International in a report on Wednesday, July 23rd. Bank of America lifted their price objective 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. Jefferies Financial Group initiated coverage on shares of Philip Morris International in a report on Wednesday, July 9th. They set a "buy" rating and a $220.00 price objective for the company. KGI Securities initiated coverage on shares of Philip Morris International in a report on Monday, August 4th. They set an "outperform" rating for the company. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Philip Morris International presently has a consensus rating of "Moderate Buy" and a consensus price target of $186.27.

Philip Morris International Price Performance

Philip Morris International stock traded up $2.06 during mid-day trading on Friday, hitting $170.23. The company's stock had a trading volume of 3,774,105 shares, compared to its average volume of 7,028,849. The stock has a market cap 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 business has a 50 day moving average price of $176.29 and a 200-day moving average price of $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 quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $10.14 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same quarter in the previous year, the company earned $1.59 earnings per share. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities research analysts expect that Philip Morris International Inc. will post 7.14 earnings per share 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 $1.35 dividend. The ex-dividend date was Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.2%. Philip Morris International's payout ratio is presently 102.66%.

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.