Fortitude Family Office LLC Sells 1,479 Shares of Philip Morris International Inc. (NYSE:PM)

Fortitude Family Office LLC decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 70.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 606 shares of the company's stock after selling 1,479 shares during the quarter. Fortitude Family Office LLC's holdings in Philip Morris International were worth $96,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Lloyd Advisory Services LLC. increased its holdings in shares of Philip Morris International by 3.3% in the 1st quarter. Lloyd Advisory Services LLC. now owns 2,032 shares of the company's stock worth $323,000 after buying an additional 64 shares during the last quarter. Omnia Family Wealth LLC increased its holdings in shares of Philip Morris International by 1.7% in the 4th quarter. Omnia Family Wealth LLC now owns 3,851 shares of the company's stock worth $469,000 after buying an additional 65 shares during the last quarter. Sonora Investment Management Group LLC increased its holdings in shares of Philip Morris International by 0.6% in the 1st quarter. Sonora Investment Management Group LLC now owns 11,240 shares of the company's stock worth $1,784,000 after buying an additional 68 shares during the last quarter. Meridian Wealth Partners LLC increased its holdings in shares of Philip Morris International by 4.1% in the 4th quarter. Meridian Wealth Partners LLC now owns 1,781 shares of the company's stock worth $214,000 after buying an additional 70 shares during the last quarter. Finally, NewSquare Capital LLC boosted its stake in shares of Philip Morris International by 53.7% in the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company's stock valued at $25,000 after purchasing an additional 72 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PM. Needham & Company LLC began coverage on shares of Philip Morris International in a research note on Thursday, May 22nd. They issued a "buy" rating for the company. Bank of America upped their price objective on shares of Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Argus raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. Morgan Stanley reaffirmed an "overweight" rating and issued a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Finally, Barclays upped their price objective on shares of Philip Morris International from $205.00 to $220.00 and gave the company an "overweight" rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $176.80.

Philip Morris International Price Performance

Philip Morris International stock traded down $0.09 during trading hours on Friday, reaching $184.01. The stock had a trading volume of 5,500,599 shares, compared to its average volume of 5,616,010. The stock has a market cap of $286.41 billion, a PE ratio of 40.80, a PEG ratio of 2.65 and a beta of 0.52. Philip Morris International Inc. has a 52 week low of $98.93 and a 52 week high of $185.16. The company has a fifty day simple moving average of $170.67 and a 200-day simple moving average of $149.22.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.61 by $0.08. The business had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The company's revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.50 EPS. Research analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.93%. Philip Morris International's dividend payout ratio (DPR) is presently 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.