NorthRock Partners LLC Sells 4,939 Shares of Philip Morris International Inc. (NYSE:PM)

Key Points

• NorthRock Partners LLC reduced its stake in Philip Morris International by 2.3%, now holding 206,626 shares valued at approximately $33 million, making it the firm's 18th largest position.
• Analysts maintain a generally positive outlook on Philip Morris International, with 12 buy ratings and an average price target of $186.73, indicating strong investor confidence.
• The company reported earnings of $1.91 per share, surpassing estimates, while revenue increased by 7.1% year-over-year, emphasizing its growth despite challenges in the market.

NorthRock Partners LLC lowered its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 2.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 206,626 shares of the company's stock after selling 4,939 shares during the quarter. Philip Morris International makes up approximately 1.1% of NorthRock Partners LLC's investment portfolio, making the stock its 18th largest position. NorthRock Partners LLC's holdings in Philip Morris International were worth $33,074,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pacifica Partners Inc. increased its stake in Philip Morris International by 115.0% in the first 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 stake in shares of Philip Morris International in the 1st quarter worth about $35,000. Ball & Co Wealth Management Inc. acquired a new stake in shares of Philip Morris International in the 4th quarter worth about $36,000. Ameriflex Group Inc. bought a new position in shares of Philip Morris International in the fourth quarter valued at approximately $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 institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on PM shares. JPMorgan Chase & Co. lifted their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Needham & Company LLC reaffirmed a "buy" rating and set a $195.00 price target on shares of Philip Morris International in a research report on Wednesday, July 23rd. Bank of America increased their price target on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. UBS Group upped their price objective on shares of Philip Morris International from $170.00 to $181.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $186.27.

Philip Morris International Trading Down 0.7%

PM traded down $1.09 during midday trading on Friday, reaching $162.96. The company's stock had a trading volume of 7,552,974 shares, compared to its average volume of 6,566,090. The stock's 50-day moving average is $177.55 and its 200-day moving average is $161.60. Philip Morris International Inc. has a 1 year low of $113.15 and a 1 year high of $186.69. The firm has a market capitalization of $253.66 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 2.39 and a beta of 0.49.

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

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 annualized dividend and a dividend yield of 3.3%. Philip Morris International's dividend payout ratio (DPR) is 102.66%.

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.