TCTC Holdings LLC Sells 3,755 Shares of Philip Morris International Inc. (NYSE:PM)

Key Points

• TCTC Holdings LLC reduced its stake in Philip Morris International by 2.1%, owning 176,765 shares, which are valued at approximately $28 million.
• Several institutional investors, including Capital World Investors and Northern Trust Corp, increased their holdings in Philip Morris during the fourth quarter, reflecting strong interest from major investors.
• Philip Morris recently reported earnings of $1.91 per share, exceeding expectations, and announced a quarterly dividend of $1.35, representing a yield of 3.43%.

TCTC Holdings LLC decreased its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 2.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 176,765 shares of the company's stock after selling 3,755 shares during the period. Philip Morris International accounts for 1.0% of TCTC Holdings LLC's holdings, making the stock its 26th biggest position. TCTC Holdings LLC's holdings in Philip Morris International were worth $28,058,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pacifica Partners Inc. raised its stake in 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 purchasing an additional 115 shares during the period. Redmont Wealth Advisors LLC acquired a new position in shares of Philip Morris International in the first quarter valued at approximately $35,000. Ball & Co Wealth Management Inc. acquired a new position in Philip Morris International during the 4th quarter worth approximately $36,000. Ameriflex Group Inc. purchased a new position in shares of Philip Morris International in the 4th quarter valued at $36,000. Finally, Inlight Wealth Management LLC purchased a new position in shares of Philip Morris International in the 1st quarter valued at $38,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Stock Up 3.1%

PM traded up $4.93 during trading on Tuesday, reaching $162.70. 9,427,927 shares of the company's stock were exchanged, compared to its average volume of 5,849,509. Philip Morris International Inc. has a fifty-two week low of $113.15 and a fifty-two week high of $186.69. The business has a 50 day moving average price of $178.32 and a 200 day moving average price of $160.97. The company has a market capitalization of $253.26 billion, a P/E ratio of 30.93, a PEG ratio of 2.30 and a beta of 0.51.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $10.14 billion for the quarter, compared to the consensus estimate of $10.33 billion. Philip Morris International had a net margin of 10.57% and a negative return on equity of 120.86%. The firm's quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.59 EPS. As a group, research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were paid a $1.35 dividend. The ex-dividend date was Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.32%. Philip Morris International's dividend payout ratio (DPR) is presently 102.66%.

Analyst Ratings Changes

Several research firms have recently commented on PM. Morgan Stanley restated an "overweight" rating and issued a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. 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 research note on Monday, July 14th. Jefferies Financial Group assumed coverage on Philip Morris International in a research note on Wednesday, July 9th. They set a "buy" rating and a $220.00 price target for the company. Citigroup restated an "overweight" rating on shares of Philip Morris International in a research note on Tuesday, July 22nd. Finally, Wall Street Zen raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a report on Sunday, July 20th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $186.73.

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.