Morse Asset Management Inc Sells 2,800 Shares of Philip Morris International Inc. (NYSE:PM)

Morse Asset Management Inc trimmed its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 84.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 500 shares of the company's stock after selling 2,800 shares during the period. Morse Asset Management Inc's holdings in Philip Morris International were worth $79,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Pacifica Partners Inc. raised its holdings in shares of 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 purchasing an additional 115 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new stake in shares of Philip Morris International in the first quarter valued at about $35,000. Ball & Co Wealth Management Inc. purchased a new stake in shares of Philip Morris International in the fourth quarter valued at about $36,000. Ameriflex Group Inc. purchased a new stake in shares of Philip Morris International in the fourth quarter valued at about $36,000. Finally, Inlight Wealth Management LLC purchased a new stake in shares of Philip Morris International in the first quarter valued at about $38,000. 78.63% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PM has been the subject of several analyst reports. Jefferies Financial Group initiated coverage on shares of Philip Morris International in a report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 target price for the company. Wall Street Zen upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a report on Sunday. UBS Group set a $181.00 price objective on shares of Philip Morris International and gave the stock a "neutral" rating in a report on Monday, July 14th. Stifel Nicolaus raised their price objective on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Finally, Citigroup raised their price objective on shares of Philip Morris International from $188.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $186.73.

Philip Morris International Stock Down 0.2%

PM opened at $178.75 on Monday. The company has a market capitalization of $278.23 billion, a price-to-earnings ratio of 36.86, a PEG ratio of 2.56 and a beta of 0.51. The firm has a 50-day moving average price of $178.83 and a 200-day moving average price of $159.09. Philip Morris International Inc. has a twelve month low of $106.76 and a twelve month high of $186.69.

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

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were paid a $1.35 dividend. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 annualized dividend and a dividend yield of 3.02%. Philip Morris International's payout ratio is 111.34%.

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.

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