Philip Morris International Inc. (NYSE:PM) is Hourglass Capital LLC's Largest Position

Hourglass Capital LLC cut its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 6.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,580 shares of the company's stock after selling 4,870 shares during the quarter. Philip Morris International makes up 2.8% of Hourglass Capital LLC's investment portfolio, making the stock its largest holding. Hourglass Capital LLC's holdings in Philip Morris International were worth $10,727,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Pacifica Partners Inc. boosted its stake in 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 purchasing an additional 115 shares during the period. Redmont Wealth Advisors LLC purchased a new position in shares of Philip Morris International during the 1st quarter valued at about $35,000. Inlight Wealth Management LLC purchased a new position in Philip Morris International in the 1st quarter worth approximately $38,000. Ameriflex Group Inc. purchased a new position in Philip Morris International in the 4th quarter worth approximately $36,000. Finally, Knuff & Co LLC purchased a new position in Philip Morris International in the 4th quarter worth approximately $36,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PM has been the topic of several research analyst reports. Stifel Nicolaus boosted their target price on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Needham & Company LLC began coverage on Philip Morris International in a research note on Thursday, May 22nd. They issued a "buy" rating for the company. Morgan Stanley reiterated an "overweight" rating and set a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Bank of America upped their price target on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Finally, Barclays restated an "overweight" rating and issued a $220.00 price target (up previously from $205.00) on shares of Philip Morris International in a research report on Friday, June 13th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Philip Morris International currently has an average rating of "Moderate Buy" and a consensus target price of $176.80.

Philip Morris International Trading Up 1.3%

Philip Morris International stock opened at $181.12 on Tuesday. Philip Morris International Inc. has a twelve month low of $101.62 and a twelve month high of $186.69. The stock's fifty day simple moving average is $177.38 and its 200-day simple moving average is $155.43. The firm has a market capitalization of $281.92 billion, a P/E ratio of 37.34, a P/E/G ratio of 2.59 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.08. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same quarter last year, the company posted $1.50 earnings per share. The business's quarterly revenue was up 5.8% compared to the same quarter last year. Sell-side analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be paid a dividend of $1.35 per share. The ex-dividend date is Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.98%. Philip Morris International's dividend payout ratio (DPR) is 111.34%.

Philip Morris International 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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