Sound View Wealth Advisors Group LLC Has $6.54 Million Stake in Philip Morris International Inc. (NYSE:PM)

Key Points

• Sound View Wealth Advisors Group LLC has reduced its stake in Philip Morris International Inc. by 6.6%, now holding 41,216 shares valued at approximately $6.54 million.
• Several institutional investors have increased their positions in Philip Morris, with GAMMA Investing LLC raising its stake by an impressive 19,986.5% during the first quarter.
• Philip Morris International reported $1.91 earnings per share in its latest quarter, exceeding estimates and indicating a 7.1% increase in revenue compared to the previous year.

Sound View Wealth Advisors Group LLC lowered its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 6.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 41,216 shares of the company's stock after selling 2,934 shares during the period. Sound View Wealth Advisors Group LLC's holdings in Philip Morris International were worth $6,542,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pacifica Partners Inc. lifted its position in shares of Philip Morris International by 115.0% in the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock worth $35,000 after buying an additional 115 shares during the last quarter. Redmont Wealth Advisors LLC bought a new position in shares of Philip Morris International in the 1st quarter worth about $35,000. Ball & Co Wealth Management Inc. bought a new position in shares of Philip Morris International in the 4th quarter worth about $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 bought a new position in shares of Philip Morris International in the 1st quarter worth about $38,000. Institutional investors own 78.63% of the company's stock.

Philip Morris International Trading Down 0.7%

Shares of PM stock traded down $1.09 on Friday, hitting $162.96. 7,552,974 shares of the stock were exchanged, compared to its average volume of 6,566,090. The firm has a market capitalization of $253.66 billion, a P/E ratio of 30.98, a price-to-earnings-growth ratio of 2.39 and a beta of 0.49. The business has a 50-day moving average of $177.55 and a 200 day moving average of $161.60. Philip Morris International Inc. has a fifty-two week low of $113.15 and a fifty-two week high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter last year, the firm posted $1.59 EPS. The company's quarterly revenue was up 7.1% on a year-over-year basis. As a group, 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. Stockholders of record on Friday, June 27th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.3%. Philip Morris International's payout ratio is 102.66%.

Analyst Ratings Changes

Several equities analysts have recently commented on PM shares. Bank of America upped 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. Barclays lowered their price target on shares of Philip Morris International from $225.00 to $220.00 and set an "overweight" rating for the company in a research report on Wednesday. UBS Group lifted 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. Morgan Stanley restated an "overweight" rating and set a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Finally, Stifel Nicolaus lifted their price objective on shares of Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $186.27.

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.