Legacy Advisors LLC Cuts Position in Philip Morris International Inc. (NYSE:PM)

Legacy Advisors LLC lowered its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 11.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,648 shares of the company's stock after selling 2,998 shares during the quarter. Legacy Advisors LLC's holdings in Philip Morris International were worth $3,786,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PM. NewSquare Capital LLC increased its stake in Philip Morris International by 53.7% in the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company's stock valued at $25,000 after purchasing an additional 72 shares during the last quarter. Pacifica Partners Inc. boosted its stake in Philip Morris International by 115.0% in the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after acquiring an additional 115 shares in the last quarter. Inlight Wealth Management LLC purchased a new position in shares of Philip Morris International during the first quarter worth about $38,000. Ameriflex Group Inc. acquired a new stake in shares of Philip Morris International during the fourth quarter worth about $36,000. Finally, Knuff & Co LLC purchased a new stake in shares of Philip Morris International in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 78.63% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Needham & Company LLC started coverage on Philip Morris International in a research note on Thursday, May 22nd. They set a "buy" rating on the stock. Bank of America raised their target price on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. UBS Group upgraded shares of Philip Morris International from a "sell" rating to a "neutral" rating and upped their price target for the company from $130.00 to $170.00 in a research report on Friday, April 25th. Wall Street Zen raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Argus raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a report on Friday, March 14th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $176.80.

Philip Morris International Price Performance

Shares of PM stock traded down $4.70 during mid-day trading on Wednesday, hitting $179.79. The stock had a trading volume of 4,807,987 shares, compared to its average volume of 5,610,033. The firm has a market cap of $279.85 billion, a PE ratio of 37.07, a PEG ratio of 2.68 and a beta of 0.52. The company's 50-day simple moving average is $174.86 and its 200-day simple moving average is $151.88. Philip Morris International Inc. has a fifty-two week low of $100.80 and a fifty-two week high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) 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 firm 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. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. On average, analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be issued a $1.35 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $5.40 annualized dividend and a dividend yield of 3.00%. Philip Morris International's dividend payout ratio is currently 111.34%.

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.