Oak Thistle LLC trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 83.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,664 shares of the company's stock after selling 18,590 shares during the quarter. Oak Thistle LLC's holdings in Philip Morris International were worth $582,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pacifica Partners Inc. raised its position in shares of Philip Morris International by 115.0% in the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock worth $35,000 after acquiring an additional 115 shares in the last quarter. Redmont Wealth Advisors LLC bought a new position in Philip Morris International in the first quarter worth approximately $35,000. Inlight Wealth Management LLC acquired a new position in shares of Philip Morris International in the 1st quarter valued at $38,000. Ameriflex Group Inc. acquired a new stake in Philip Morris International during the 4th quarter worth about $36,000. Finally, Hughes Financial Services LLC purchased a new position in Philip Morris International in the 1st quarter valued at about $46,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.
Philip Morris International Price Performance
Shares of NYSE PM traded down $0.16 during midday trading on Friday, reaching $160.92. 4,541,084 shares of the stock were exchanged, compared to its average volume of 5,803,806. Philip Morris International Inc. has a 12 month low of $112.43 and a 12 month high of $186.69. The business has a 50-day simple moving average of $178.86 and a two-hundred day simple moving average of $160.14. The company has a market capitalization of $250.47 billion, a price-to-earnings ratio of 30.59, a P/E/G ratio of 2.30 and a beta of 0.51.
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 for the quarter, topping the consensus estimate of $1.86 by $0.05. The company had revenue of $10.14 billion during the quarter, compared to analysts' expectations of $10.33 billion. Philip Morris International had a net margin of 10.57% and a negative return on equity of 120.86%. Philip Morris International's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.59 earnings per share. Equities research analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.
Philip Morris International Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors 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 3.36%. Philip Morris International's payout ratio is 111.34%.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on PM shares. Citigroup restated an "overweight" rating on shares of Philip Morris International in a report on Tuesday. Bank of America raised their price objective on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Needham & Company LLC reaffirmed a "buy" rating and set a $195.00 target price on shares of Philip Morris International in a research report on Wednesday. Stifel Nicolaus upped their target price on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. upped their target price on Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Philip Morris International presently has a consensus rating of "Moderate Buy" and a consensus target price of $186.73.
Check Out Our Latest Research Report on PM
Philip Morris International Company Profile
(
Free Report)
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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