SteelPeak Wealth LLC Has $10.52 Million Stock Position in Philip Morris International Inc. (NYSE:PM)

SteelPeak Wealth LLC cut its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 8.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,746 shares of the company's stock after selling 6,011 shares during the quarter. SteelPeak Wealth LLC's holdings in Philip Morris International were worth $10,522,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PM. Diversify Wealth Management LLC increased its holdings in shares of Philip Morris International by 3.7% in the 1st quarter. Diversify Wealth Management LLC now owns 32,428 shares of the company's stock valued at $5,521,000 after acquiring an additional 1,172 shares during the last quarter. Xponance Inc. increased its holdings in shares of Philip Morris International by 1.9% in the 1st quarter. Xponance Inc. now owns 195,491 shares of the company's stock valued at $31,030,000 after acquiring an additional 3,630 shares during the last quarter. WESPAC Advisors LLC bought a new stake in shares of Philip Morris International in the 1st quarter valued at approximately $1,136,000. Fidelis Capital Partners LLC grew its stake in Philip Morris International by 2.3% during the 1st quarter. Fidelis Capital Partners LLC now owns 8,669 shares of the company's stock worth $1,476,000 after buying an additional 194 shares during the last quarter. Finally, CFC Planning Co LLC grew its stake in Philip Morris International by 8.2% during the 1st quarter. CFC Planning Co LLC now owns 20,574 shares of the company's stock worth $3,266,000 after buying an additional 1,564 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Trading Down 0.7%

PM stock traded down $1.26 during trading hours on Friday, hitting $179.73. 3,430,602 shares of the stock traded hands, compared to its average volume of 5,634,992. The stock has a 50-day simple moving average of $178.05 and a 200 day simple moving average of $156.52. Philip Morris International Inc. has a one year low of $104.84 and a one year high of $186.69. The company has a market cap of $279.75 billion, a P/E ratio of 37.06, a P/E/G ratio of 2.63 and a beta of 0.51.

Philip Morris International (NYSE:PM - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.08. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The business had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $9.10 billion. During the same quarter last year, the business posted $1.50 earnings per share. The company's quarterly revenue was up 5.8% on a year-over-year basis. Analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be given a $1.35 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.00%. Philip Morris International's dividend payout ratio (DPR) is 111.34%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PM. Citigroup upped their price objective on Philip Morris International from $188.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday. JPMorgan Chase & Co. upped their price objective on Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research note on Thursday. Bank of America upped their price objective 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. Wall Street Zen downgraded Philip Morris International from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Needham & Company LLC began coverage on Philip Morris International in a research note on Thursday, May 22nd. They set a "buy" rating for the company. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $185.73.

About Philip Morris International

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.