Leo Wealth LLC Decreases Stock Position in Philip Morris International Inc. (NYSE:PM)

Leo Wealth LLC lessened its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 30.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,664 shares of the company's stock after selling 1,619 shares during the period. Leo Wealth LLC's holdings in Philip Morris International were worth $582,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Philip Morris International by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 139,432,392 shares of the company's stock valued at $16,780,688,000 after purchasing an additional 1,167,810 shares in the last quarter. Capital World Investors raised its stake in Philip Morris International by 3.6% during the 4th quarter. Capital World Investors now owns 122,584,210 shares of the company's stock worth $14,752,926,000 after buying an additional 4,216,586 shares during the period. GQG Partners LLC raised its stake in Philip Morris International by 14.3% during the 4th quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock worth $5,866,678,000 after buying an additional 6,092,558 shares during the period. Geode Capital Management LLC raised its stake in Philip Morris International by 9.9% during the 4th quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company's stock worth $4,241,837,000 after buying an additional 3,185,258 shares during the period. Finally, Wellington Management Group LLP raised its stake in Philip Morris International by 3.1% during the 4th quarter. Wellington Management Group LLP now owns 17,276,790 shares of the company's stock worth $2,079,262,000 after buying an additional 516,617 shares during the period. Institutional investors own 78.63% of the company's stock.

Philip Morris International Price Performance

Shares of Philip Morris International stock traded up $0.13 during trading hours on Tuesday, reaching $180.88. The company had a trading volume of 4,322,698 shares, compared to its average volume of 5,646,086. Philip Morris International Inc. has a one year low of $104.84 and a one year high of $186.69. The firm has a market cap of $281.54 billion, a PE ratio of 37.29, a price-to-earnings-growth ratio of 2.60 and a beta of 0.51. The business has a fifty day simple moving average of $178.20 and a 200 day simple moving average of $157.41.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.61 by $0.08. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The company had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter last year, the business posted $1.50 earnings per share. The firm's revenue was up 5.8% compared to the same quarter last year. On average, research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be given a dividend of $1.35 per share. The ex-dividend date is Friday, June 27th. This represents a $5.40 annualized dividend and a yield of 2.99%. Philip Morris International's payout ratio is 111.34%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wall Street Zen downgraded Philip Morris International from a "buy" rating to a "hold" rating in a research note on Saturday. Citigroup increased their price objective on Philip Morris International from $188.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Morgan Stanley reissued an "overweight" rating and issued a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Needham & Company LLC began coverage on Philip Morris International in a research note on Thursday, May 22nd. They issued a "buy" rating for the company. Finally, JPMorgan Chase & Co. increased their price objective on Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Philip Morris International presently has an average rating of "Moderate Buy" and an average price target of $186.73.

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.