Close Asset Management Ltd lowered its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 9.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 314,266 shares of the company's stock after selling 32,747 shares during the period. Philip Morris International makes up 1.4% of Close Asset Management Ltd's holdings, making the stock its 22nd biggest holding. Close Asset Management Ltd's holdings in Philip Morris International were worth $49,882,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Pacifica Partners Inc. lifted its position in shares of Philip Morris International by 115.0% during the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock worth $35,000 after buying an additional 115 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new stake in shares of Philip Morris International during the 1st quarter worth approximately $35,000. Ball & Co Wealth Management Inc. purchased a new stake in shares of Philip Morris International during the 4th quarter worth approximately $36,000. Ameriflex Group Inc. purchased a new stake in shares of Philip Morris International during the 4th quarter worth approximately $36,000. Finally, Inlight Wealth Management LLC purchased a new stake in shares of Philip Morris International during the 1st quarter worth approximately $38,000. Institutional investors and hedge funds own 78.63% of the company's stock.
Philip Morris International Stock Performance
Shares of PM stock traded down $0.16 during mid-day trading on Friday, reaching $160.92. 4,541,084 shares of the company were exchanged, compared to its average volume of 5,803,806. Philip Morris International Inc. has a fifty-two week low of $112.43 and a fifty-two week high of $186.69. The company has a market capitalization of $250.47 billion, a P/E ratio of 30.59, a P/E/G ratio of 2.30 and a beta of 0.51. The business's 50 day simple moving average is $178.86 and its 200 day simple moving average is $160.14.
Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.05. Philip Morris International had a negative return on equity of 120.86% and a net margin of 10.57%. The firm had revenue of $10.14 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same period last year, the business posted $1.59 earnings per share. The firm's revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.
Philip Morris International Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date was Friday, June 27th. Philip Morris International's payout ratio is 102.66%.
Analyst Ratings Changes
Several research firms recently commented on PM. Needham & Company LLC reiterated a "buy" rating and issued a $195.00 price target on shares of Philip Morris International in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Bank of America upped their price target on shares of Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Barclays reiterated an "overweight" rating on shares of Philip Morris International in a research report on Tuesday. Finally, Jefferies Financial Group began coverage on shares of Philip Morris International in a research report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price target for the company. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $186.73.
Read Our Latest Stock Analysis on PM
About Philip Morris International
(
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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