Lee Financial Co Reduces Stock Holdings in Philip Morris International Inc. $PM

Key Points

• Lee Financial Co has reduced its stake in Philip Morris International Inc. by 11.1%, now holding 14,949 shares valued at $2,376,000.
• Various institutional investors have increased their holdings in Philip Morris, with Cortland Associates Inc. leading with a 704.0% increase, now owning 142,950 shares worth $22.69 million.
• Analysts have mixed sentiments on Philip Morris, with ratings ranging from "hold" to "buy," and an average price target of $186.27 for the stock.

Lee Financial Co lessened its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 11.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 14,949 shares of the company's stock after selling 1,859 shares during the period. Philip Morris International makes up approximately 0.4% of Lee Financial Co's holdings, making the stock its 27th largest holding. Lee Financial Co's holdings in Philip Morris International were worth $2,376,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Linscomb Wealth Inc. boosted its holdings in Philip Morris International by 3.3% during the 1st quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company's stock valued at $13,207,000 after acquiring an additional 2,669 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Philip Morris International by 7.3% during the first quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company's stock valued at $568,873,000 after purchasing an additional 242,799 shares during the period. 49 Wealth Management LLC grew its holdings in shares of Philip Morris International by 79.0% in the first quarter. 49 Wealth Management LLC now owns 5,334 shares of the company's stock worth $847,000 after purchasing an additional 2,354 shares during the last quarter. Cortland Associates Inc. MO increased its stake in Philip Morris International by 704.0% in the 1st quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company's stock worth $22,690,000 after buying an additional 125,171 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Philip Morris International by 24.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock valued at $69,695,000 after buying an additional 87,631 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PM. Wall Street Zen lowered shares of Philip Morris International from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Barclays lowered their target price on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. KGI Securities started coverage on Philip Morris International in a research note on Monday, August 4th. They set an "outperform" rating on the stock. Bank of America upped their price objective on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Finally, Citigroup reissued an "overweight" rating on shares of Philip Morris International in a research report on Tuesday, July 22nd. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $186.27.

Philip Morris International Price Performance

Shares of PM stock opened at $166.19 on Monday. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69. The stock's fifty day moving average price is $174.84 and its 200 day moving average price is $165.04. The company has a market cap of $258.69 billion, a price-to-earnings ratio of 31.60, a price-to-earnings-growth ratio of 2.42 and a beta of 0.48.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.05. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. The business had revenue of $10.14 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter last year, the company earned $1.59 earnings per share. The company's quarterly revenue was up 7.1% on a year-over-year basis. As a group, equities research analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were issued a $1.35 dividend. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is currently 102.66%.

Philip Morris International 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.