Optimist Retirement Group LLC Has $2.42 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Optimist Retirement Group LLC cut its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 8.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,270 shares of the company's stock after selling 1,447 shares during the quarter. Philip Morris International makes up 1.2% of Optimist Retirement Group LLC's portfolio, making the stock its 19th largest position. Optimist Retirement Group LLC's holdings in Philip Morris International were worth $2,424,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings 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 lifted its stake in Philip Morris International by 3.6% in the 4th quarter. Capital World Investors now owns 122,584,210 shares of the company's stock valued at $14,752,926,000 after acquiring an additional 4,216,586 shares in the last quarter. GQG Partners LLC lifted its stake in Philip Morris International by 14.3% in the 4th quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock valued at $5,866,678,000 after acquiring an additional 6,092,558 shares in the last quarter. Geode Capital Management LLC lifted its stake in Philip Morris International by 9.9% in the 4th quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company's stock valued at $4,241,837,000 after acquiring an additional 3,185,258 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of 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 purchasing an additional 516,617 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $178.75 on Friday. Philip Morris International Inc. has a 1-year low of $106.76 and a 1-year high of $186.69. The business has a fifty day moving average price of $178.83 and a 200-day moving average price of $158.83. The company has a market capitalization of $278.23 billion, a PE ratio of 36.86, a PEG ratio of 2.56 and a beta of 0.51.

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

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were given a dividend of $1.35 per share. The ex-dividend date was Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a yield of 3.02%. Philip Morris International's dividend payout ratio (DPR) is presently 111.34%.

Analysts Set New Price Targets

Several research analysts have weighed in on PM shares. Barclays boosted their price target on Philip Morris International from $220.00 to $225.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. UBS Group set a $181.00 price target on Philip Morris International and gave the stock a "neutral" rating in a research report on Monday, July 14th. Jefferies Financial Group initiated coverage on Philip Morris International in a report on Wednesday, July 9th. They set a "buy" rating and a $220.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Finally, Citigroup boosted their target price on Philip Morris International from $188.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price 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.

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