Quilter Plc Sells 7,769 Shares of Philip Morris International Inc. (NYSE:PM)

Quilter Plc trimmed its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 9.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,828 shares of the company's stock after selling 7,769 shares during the period. Quilter Plc's holdings in Philip Morris International were worth $11,719,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NewSquare Capital LLC increased its holdings in shares of Philip Morris International by 53.7% during the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company's stock worth $25,000 after acquiring an additional 72 shares during the last quarter. Pacifica Partners Inc. boosted its position 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. Knuff & Co LLC acquired a new position in shares of Philip Morris International in the fourth quarter valued at $36,000. Ball & Co Wealth Management Inc. bought a new position in Philip Morris International in the 4th quarter valued at about $36,000. Finally, Ameriflex Group Inc. acquired a new stake in Philip Morris International during the 4th quarter worth approximately $36,000. 78.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PM. UBS Group upgraded shares of Philip Morris International from a "sell" rating to a "neutral" rating and lifted their price target for the company from $130.00 to $170.00 in a research report on Friday, April 25th. Bank of America increased their price target on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Argus upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. Morgan Stanley reiterated an "overweight" rating and issued a $182.00 price target (up previously from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Finally, Stifel Nicolaus upped their price objective on Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $176.80.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $180.61 on Friday. The business's 50-day moving average is $175.60 and its 200-day moving average is $152.43. Philip Morris International Inc. has a 1 year low of $100.80 and a 1 year high of $186.69. The company has a market capitalization of $281.13 billion, a price-to-earnings ratio of 37.24, a P/E/G ratio of 2.60 and a beta of 0.52.

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 analysts' consensus estimates 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 firm had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $9.10 billion. During the same period in the prior year, the business earned $1.50 EPS. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. Analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Friday, June 27th. Philip Morris International's dividend payout ratio is currently 111.34%.

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.

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