Richard Bernstein Advisors LLC Reduces Stock Position in Philip Morris International Inc. (NYSE:PM)

Richard Bernstein Advisors LLC decreased its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 5.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,495 shares of the company's stock after selling 1,414 shares during the quarter. Richard Bernstein Advisors LLC's holdings in Philip Morris International were worth $4,206,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PM. Pacifica Partners Inc. lifted its position in Philip Morris International by 115.0% during the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock worth $35,000 after acquiring an additional 115 shares during the period. Redmont Wealth Advisors LLC acquired a new stake in Philip Morris International during the 1st quarter worth about $35,000. Knuff & Co LLC acquired a new stake in Philip Morris International during the 4th quarter worth about $36,000. Ball & Co Wealth Management Inc. acquired a new stake in Philip Morris International during the 4th quarter worth about $36,000. Finally, Ameriflex Group Inc. acquired a new stake in Philip Morris International during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 78.63% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PM shares. Needham & Company LLC started coverage on Philip Morris International in a research note on Thursday, May 22nd. They set a "buy" rating for the company. Morgan Stanley reiterated an "overweight" rating and set a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. UBS Group upgraded 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 note on Friday, April 25th. Bank of America lifted their price target on Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Finally, Citigroup lifted their price target on Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, April 16th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $176.80.

Philip Morris International Price Performance

PM traded up $2.24 during trading hours on Monday, reaching $181.12. The company's stock had a trading volume of 4,652,143 shares, compared to its average volume of 5,638,753. The business's 50-day moving average is $177.14 and its 200-day moving average is $155.03. Philip Morris International Inc. has a fifty-two week low of $101.62 and a fifty-two week high of $186.69. The stock has a market cap of $281.92 billion, a PE ratio of 37.34, a P/E/G ratio of 2.59 and a beta of 0.51.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.08. The company had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $9.10 billion. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The firm's revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.50 earnings per share. Analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International's 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.