Philip Morris International Inc. (NYSE:PM) Shares Sold by Longfellow Investment Management Co. LLC

Key Points

• Longfellow Investment Management Co. LLC sold 3,037 shares of Philip Morris International Inc., reducing its holdings by 35% to a total of 5,645 shares valued at approximately $896,000.
• Multiple institutional investors have increased their stakes, with Nuveen LLC investing around $1.71 billion and Goldman Sachs Group Inc. boosting its stake by 57.5% in the first quarter.
• Analysts have set a consensus rating of "Moderate Buy" on Philip Morris International, with an average price target of $186.27 after recent revisions from firms like Barclays and JPMorgan Chase & Co.

Longfellow Investment Management Co. LLC lessened its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 35.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 5,645 shares of the company's stock after selling 3,037 shares during the period. Longfellow Investment Management Co. LLC's holdings in Philip Morris International were worth $896,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nuveen LLC purchased a new position in shares of Philip Morris International during the first quarter valued at $1,712,994,000. GAMMA Investing LLC increased its stake in shares of Philip Morris International by 19,986.5% during the first quarter. GAMMA Investing LLC now owns 4,486,928 shares of the company's stock valued at $712,210,000 after buying an additional 4,464,590 shares during the period. Kovitz Investment Group Partners LLC increased its stake in shares of Philip Morris International by 372.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,453,285 shares of the company's stock valued at $656,303,000 after buying an additional 4,298,530 shares during the period. Capital World Investors increased its stake in shares of Philip Morris International by 3.6% during the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company's stock valued at $14,752,926,000 after buying an additional 4,216,586 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Philip Morris International by 57.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company's stock valued at $1,554,686,000 after buying an additional 3,575,158 shares during the period. Hedge funds and other institutional investors own 78.63% of the company's stock.

Analysts Set New Price Targets

PM has been the topic of several research reports. KGI Securities initiated coverage on Philip Morris International in a research note on Monday, August 4th. They set an "outperform" rating on the stock. 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 note on Thursday, April 24th. JPMorgan Chase & Co. lifted their target price on Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. UBS Group lifted their target price on Philip Morris International from $170.00 to $181.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Finally, Wall Street Zen lowered Philip Morris International from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $186.27.

Philip Morris International Trading Down 0.4%

Shares of PM stock traded down $0.66 during trading hours on Thursday, reaching $165.22. 3,294,929 shares of the company's stock were exchanged, compared to its average volume of 6,093,715. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69. The stock has a market cap of $257.18 billion, a PE ratio of 31.41, a PEG ratio of 2.45 and a beta of 0.48. The stock's fifty day moving average price is $175.47 and its two-hundred day moving average price is $164.05.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings results 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 negative return on equity of 120.86% and a net margin of 9.03%. The company had revenue of $10.14 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the previous year, the company posted $1.59 earnings per share. Philip Morris International's revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal 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 yield of 3.3%. 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.