Hardy Reed LLC decreased its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 45.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,061 shares of the company's stock after selling 8,286 shares during the quarter. Hardy Reed LLC's holdings in Philip Morris International were worth $1,597,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Pacifica Partners Inc. increased its stake in Philip Morris International by 115.0% during 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 in the last quarter. Redmont Wealth Advisors LLC acquired a new position in Philip Morris International during the 1st quarter valued at approximately $35,000. Inlight Wealth Management LLC acquired a new position in Philip Morris International during the 1st quarter valued at approximately $38,000. Ameriflex Group Inc. purchased a new stake in shares of Philip Morris International in the 4th quarter valued at $36,000. Finally, Hughes Financial Services LLC purchased a new stake in shares of Philip Morris International in the 1st quarter valued at $46,000. Institutional investors and hedge funds own 78.63% of the company's stock.
Philip Morris International Stock Performance
Shares of PM traded down $3.77 during trading hours on Thursday, hitting $179.51. The stock had a trading volume of 6,940,221 shares, compared to its average volume of 5,662,811. The firm has a 50-day moving average price of $178.49 and a 200 day moving average price of $157.75. Philip Morris International Inc. has a fifty-two week low of $106.76 and a fifty-two week high of $186.69. The firm has a market capitalization of $279.40 billion, a price-to-earnings ratio of 37.01, a PEG ratio of 2.63 and a beta of 0.51.
Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.08. The company had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $9.10 billion. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.50 earnings per share. As a group, analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.
Philip Morris International Announces Dividend
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. This represents a $5.40 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International's dividend payout ratio is presently 111.34%.
Analyst Ratings Changes
Several analysts have recently commented on PM shares. JPMorgan Chase & Co. upped their price objective on shares of Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Citigroup upped their price objective on shares of Philip Morris International from $188.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Jefferies Financial Group started coverage on shares of Philip Morris International in a report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price objective on the stock. Barclays upped their price objective on shares of Philip Morris International from $220.00 to $225.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Finally, Stifel Nicolaus upped their price objective on shares of Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, Philip Morris International presently has an average rating of "Moderate Buy" and an average target price of $186.73.
Check Out Our Latest Analysis on PM
Philip Morris International Company Profile
(
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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