Philip Morris International Inc. (NYSE:PM) Shares Sold by Leith Wheeler Investment Counsel Ltd.

Key Points

• Leith Wheeler Investment Counsel Ltd. reduced its holdings in Philip Morris International by 18.2%, selling 18,455 shares during the first quarter, leaving it with around 82,912 shares valued at approximately $13.16 million.
• Several institutional investors have recently increased their stakes, with Pacifica Partners Inc. boosting theirs by 115%, indicating ongoing interest in Philip Morris International.
• Analysts have a generally positive outlook on the company, with an average target price of $186.27 and most ratings reflecting a "Moderate Buy" sentiment.

Leith Wheeler Investment Counsel Ltd. lessened its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 18.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,912 shares of the company's stock after selling 18,455 shares during the quarter. Philip Morris International comprises 0.9% of Leith Wheeler Investment Counsel Ltd.'s holdings, making the stock its 26th largest position. Leith Wheeler Investment Counsel Ltd.'s holdings in Philip Morris International were worth $13,161,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Clal Insurance Enterprises Holdings Ltd purchased a new position in Philip Morris International during the first quarter worth approximately $34,000. 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 worth $35,000 after buying an additional 115 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new position in Philip Morris International during the first quarter worth approximately $35,000. Ball & Co Wealth Management Inc. acquired a new position in Philip Morris International in the fourth quarter valued at approximately $36,000. Finally, Ameriflex Group Inc. acquired a new position in Philip Morris International in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Analyst Ratings Changes

PM has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on Philip Morris International in a research report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 target price on the stock. KGI Securities initiated coverage on Philip Morris International in a research report on Monday, August 4th. They issued an "outperform" rating on the stock. Morgan Stanley restated an "overweight" rating and issued a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Wall Street Zen downgraded Philip Morris International from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Stifel Nicolaus lifted their target price on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $186.27.

Philip Morris International Price Performance

Shares of PM stock traded down $0.66 on Thursday, hitting $165.22. The stock had a trading volume of 3,294,940 shares, compared to its average volume of 7,054,380. The firm has a market capitalization of $257.18 billion, a P/E ratio of 31.41, a P/E/G ratio of 2.41 and a beta of 0.48. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69. The company's 50 day moving average price is $175.15 and its 200-day moving average price is $164.30.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.05. The firm had revenue of $10.14 billion for the quarter, compared to the consensus estimate of $10.33 billion. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. The company's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.59 EPS. On average, equities analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, June 27th. 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.