Ninety One North America Inc. Decreases Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Ninety One North America Inc. trimmed its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 3.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 611,212 shares of the company's stock after selling 25,124 shares during the period. Philip Morris International makes up 6.5% of Ninety One North America Inc.'s portfolio, making the stock its 2nd biggest holding. Ninety One North America Inc.'s holdings in Philip Morris International were worth $97,018,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PM. Pacifica Partners Inc. boosted its holdings in Philip Morris International by 115.0% during the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after acquiring an additional 115 shares during the period. Redmont Wealth Advisors LLC bought a new stake in Philip Morris International during the first quarter valued at about $35,000. Knuff & Co LLC bought a new stake in Philip Morris International during the fourth quarter valued at about $36,000. Ball & Co Wealth Management Inc. bought a new stake in Philip Morris International during the fourth quarter valued at about $36,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Philip Morris International during the fourth quarter valued at about $36,000. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Trading Down 2.0%

NYSE:PM traded down $3.54 during mid-day trading on Tuesday, hitting $177.66. The company's stock had a trading volume of 4,175,208 shares, compared to its average volume of 5,631,143. Philip Morris International Inc. has a fifty-two week low of $101.62 and a fifty-two week high of $186.69. The company has a market capitalization of $276.53 billion, a price-to-earnings ratio of 36.63, a P/E/G ratio of 2.63 and a beta of 0.51. The stock has a fifty day moving average of $177.38 and a 200-day moving average of $155.43.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings results 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 net margin of 8.43% and a negative return on equity of 122.40%. The firm had revenue of $9.30 billion during the quarter, compared to analyst estimates of $9.10 billion. During the same quarter in the prior year, the business posted $1.50 earnings per share. The company's quarterly revenue was up 5.8% compared to the same quarter last year. On average, equities analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $5.40 annualized dividend and a yield of 3.04%. Philip Morris International's dividend payout ratio is 111.34%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. 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 report on Wednesday, June 4th. Wall Street Zen raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Morgan Stanley reaffirmed 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. Argus raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. Finally, UBS Group raised shares of Philip Morris International from a "sell" rating to a "neutral" rating and upped their price objective for the company from $130.00 to $170.00 in a research report on Friday, April 25th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Philip Morris International presently has an average rating of "Moderate Buy" and an average target price of $176.80.

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.