Philip Morris International Inc. (NYSE:PM) Shares Sold by Mizuho Securities USA LLC

Key Points

• Mizuho Securities USA LLC reduced its stake in Philip Morris International by 15.5%, selling 22,866 shares and now holds 124,497 shares worth approximately $19.76 million.
• Analysts have mixed ratings for Philip Morris; while Morgan Stanley and JPMorgan Chase set price targets as high as $190.00, Wall Street Zen downgraded the stock to a "hold."
• Philip Morris reported a quarterly revenue of $10.14 billion with earnings of $1.91 per share, slightly surpassing analysts' expectations but below revenue predictions.

Mizuho Securities USA LLC cut its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 15.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 124,497 shares of the company's stock after selling 22,866 shares during the period. Mizuho Securities USA LLC's holdings in Philip Morris International were worth $19,761,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in PM. Brighton Jones LLC lifted its holdings in shares of Philip Morris International by 31.1% in the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock valued at $1,027,000 after buying an additional 2,023 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of Philip Morris International by 4.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company's stock valued at $252,000 after buying an additional 91 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Philip Morris International in the 4th quarter valued at about $15,513,000. F M Investments LLC lifted its holdings in shares of Philip Morris International by 14.3% in the 4th quarter. F M Investments LLC now owns 3,572 shares of the company's stock valued at $430,000 after buying an additional 446 shares during the period. Finally, Phoenix Financial Ltd. lifted its holdings in shares of Philip Morris International by 22.1% in the 4th quarter. Phoenix Financial Ltd. now owns 19,020 shares of the company's stock valued at $2,290,000 after buying an additional 3,437 shares during the period. 78.63% of the stock is owned by institutional investors.

Philip Morris International Price Performance

PM traded up $2.06 during trading on Friday, hitting $170.23. The company's stock had a trading volume of 3,774,105 shares, compared to its average volume of 7,028,849. The firm's 50 day moving average price is $176.29 and its 200-day moving average price is $163.71. The stock has a market cap of $264.98 billion, a PE ratio of 32.36, a PEG ratio of 2.48 and a beta of 0.48. Philip Morris International Inc. has a twelve month low of $115.62 and a twelve month high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, topping 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 business had revenue of $10.14 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the prior year, the firm posted $1.59 EPS. The business's revenue for the quarter was up 7.1% on a year-over-year basis. Equities 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. Stockholders of record on Friday, June 27th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 annualized dividend and a dividend yield of 3.2%. Philip Morris International's dividend payout ratio (DPR) is presently 102.66%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. UBS Group upped their price target on Philip Morris International from $170.00 to $181.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $195.00 price target on shares of Philip Morris International in a report on Wednesday, July 23rd. Barclays reduced their price target 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. Jefferies Financial Group assumed coverage on Philip Morris International in a report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price target for the company. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $182.00 price target (up previously from $156.00) on shares of Philip Morris International in a 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 data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $186.27.

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.