Spirit of America Management Corp NY Sells 3,500 Shares of Philip Morris International Inc. (NYSE:PM)

Spirit of America Management Corp NY decreased its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 34.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,800 shares of the company's stock after selling 3,500 shares during the period. Spirit of America Management Corp NY's holdings in Philip Morris International were worth $1,079,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PM. GQG Partners LLC increased its stake in Philip Morris International by 14.3% during the 4th quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock valued at $5,866,678,000 after buying an additional 6,092,558 shares during the period. GAMMA Investing LLC boosted its position in shares of Philip Morris International by 19,986.5% during the 1st quarter. GAMMA Investing LLC now owns 4,486,928 shares of the company's stock valued at $712,210,000 after purchasing an additional 4,464,590 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Philip Morris International during the 4th quarter valued at about $522,214,000. Kovitz Investment Group Partners LLC boosted its position in shares of Philip Morris International by 372.2% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 5,453,285 shares of the company's stock valued at $656,303,000 after purchasing an additional 4,298,530 shares in the last quarter. Finally, Capital World Investors boosted its position in shares of Philip Morris International by 3.6% during the 4th quarter. Capital World Investors now owns 122,584,210 shares of the company's stock valued at $14,752,926,000 after purchasing an additional 4,216,586 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

Philip Morris International Stock Performance

Shares of PM stock traded down $0.04 during trading on Friday, hitting $182.57. 10,713,275 shares of the company were exchanged, compared to its average volume of 5,649,314. The firm has a market capitalization of $284.18 billion, a price-to-earnings ratio of 37.64, a P/E/G ratio of 2.65 and a beta of 0.52. The business's 50-day simple moving average is $173.82 and its 200 day simple moving average is $150.99. Philip Morris International Inc. has a twelve month low of $98.93 and a twelve month high of $186.69.

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

Philip Morris International Dividend Announcement

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 issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Friday, June 27th. Philip Morris International's dividend payout ratio is currently 111.34%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PM shares. Barclays restated an "overweight" rating and set a $220.00 price objective (up previously from $205.00) on shares of Philip Morris International in a research report on Friday, June 13th. Stifel Nicolaus raised 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 report on Thursday, April 24th. Argus upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. Wall Street Zen upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Bank of America raised their target price on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $176.80.

Philip Morris International Company 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.