Philip Morris International Inc. (NYSE:PM) Shares Sold by Allianz SE

Key Points

• Allianz SE reduced its stake in Phillip Morris International by 34.5%, selling over 87,700 shares, and now holds approximately 0.7% of the company's shares.
• Analysts have largely rated Philip Morris International positively, with firms like Morgan Stanley and CitiGroup issuing "overweight" ratings and raising price targets.
• Philip Morris reported earnings of $1.91 EPS for the most recent quarter, surpassing analyst expectations, despite a revenue dip compared to estimates.

Allianz SE lowered its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 34.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 166,271 shares of the company's stock after selling 87,716 shares during the period. Philip Morris International comprises about 0.7% of Allianz SE's holdings, making the stock its 28th largest position. Allianz SE's holdings in Philip Morris International were worth $26,392,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of brokerages recently commented on PM. Morgan Stanley restated an "overweight" rating and issued a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Barclays decreased their price target on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a research note on Wednesday. Citigroup reiterated an "overweight" rating on shares of Philip Morris International in a research report on Tuesday, July 22nd. Wall Street Zen upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Sunday, July 20th. Finally, Jefferies Financial Group began coverage on shares of Philip Morris International in a research note on Wednesday, July 9th. They set a "buy" rating and a $220.00 price target on the stock. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Philip Morris International presently has a consensus rating of "Moderate Buy" and an average target price of $186.27.

Philip Morris International Price Performance

Shares of NYSE PM opened at $162.96 on Friday. The firm's 50-day moving average is $177.55 and its two-hundred day moving average is $161.90. Philip Morris International Inc. has a 12-month low of $113.15 and a 12-month high of $186.69. The company has a market capitalization of $253.66 billion, a PE ratio of 30.98, a price-to-earnings-growth ratio of 2.37 and a beta of 0.49.

Philip Morris International (NYSE:PM - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.86 by $0.05. The firm had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.33 billion. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. Philip Morris International's revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.59 EPS. On average, analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently announced 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 yield of 3.3%. Philip Morris International's payout ratio is presently 102.66%.

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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