Philip Morris International Inc. (NYSE:PM) Position Reduced by Ruffer LLP

Key Points

• Ruffer LLP has decreased its stake in Philip Morris International by 67.2%, selling 225,165 shares and now holding a total of 109,997 shares valued at approximately $17.46 million.
• Despite Ruffer's reduction, several institutional investors, including GAMMA Investing LLC which increased its holdings by 19,986.5%, have added to or raised their stakes in the company.
• The company recently announced a quarterly dividend of $1.35 per share, reflecting an annualized yield of 3.3%, with a payout ratio currently at 102.66%.

Ruffer LLP trimmed its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 67.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 109,997 shares of the company's stock after selling 225,165 shares during the quarter. Ruffer LLP's holdings in Philip Morris International were worth $17,460,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PM. Pacifica Partners Inc. raised its position in shares of Philip Morris International by 115.0% during the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock worth $35,000 after acquiring an additional 115 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new position in shares of Philip Morris International during the first quarter worth approximately $35,000. Ball & Co Wealth Management Inc. purchased a new stake in Philip Morris International in the 4th quarter worth approximately $36,000. Ameriflex Group Inc. bought a new position in shares of Philip Morris International in the 4th quarter worth about $36,000. Finally, Inlight Wealth Management LLC purchased a new position in shares of Philip Morris International in the first quarter worth $38,000. Institutional investors and hedge funds own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

PM has been the topic of several research analyst reports. Barclays lowered their price objective on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Bank of America increased 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. Citigroup reiterated an "overweight" rating on shares of Philip Morris International in a research note on Tuesday, July 22nd. Wall Street Zen raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a report on Sunday, July 20th. Finally, UBS Group lifted their price target on shares of Philip Morris International from $170.00 to $181.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $186.27.

Philip Morris International Stock Performance

Shares of PM traded up $2.86 during midday trading on Wednesday, hitting $167.00. 5,915,141 shares of the stock were exchanged, compared to its average volume of 6,993,771. Philip Morris International Inc. has a 52-week low of $114.20 and a 52-week high of $186.69. The firm has a market cap of $259.96 billion, a P/E ratio of 31.75, a P/E/G ratio of 2.39 and a beta of 0.48. The stock has a fifty day simple moving average of $176.93 and a 200 day simple moving average of $162.49.

Philip Morris International (NYSE:PM - Get Free Report) last issued 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 net margin of 9.03% and a negative return on equity of 120.86%. The company had revenue of $10.14 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same period last year, the firm posted $1.59 EPS. Philip Morris International's revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were issued a $1.35 dividend. The ex-dividend date was Friday, June 27th. This represents a $5.40 annualized dividend and a yield of 3.2%. Philip Morris International's payout ratio 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.