Steph & Co. Has $1.02 Million Position in Philip Morris International Inc. (NYSE:PM)

Steph & Co. lessened its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 24.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,422 shares of the company's stock after selling 2,045 shares during the quarter. Steph & Co.'s holdings in Philip Morris International were worth $1,019,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC boosted its position in shares of Philip Morris International by 24.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock valued at $69,695,000 after buying an additional 87,631 shares during the last quarter. Brighton Jones LLC boosted its holdings in Philip Morris International by 31.1% during the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock worth $1,027,000 after acquiring an additional 2,023 shares during the last quarter. Symmetry Investments LP bought a new stake in shares of Philip Morris International in the 4th quarter worth $1,966,000. Worth Asset Management LLC purchased a new stake in shares of Philip Morris International in the first quarter valued at about $2,223,000. Finally, Annex Advisory Services LLC lifted its position in shares of Philip Morris International by 46.6% during the first quarter. Annex Advisory Services LLC now owns 34,715 shares of the company's stock valued at $5,510,000 after purchasing an additional 11,034 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Citigroup upped their price objective on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. Morgan Stanley reaffirmed an "overweight" rating and issued a $182.00 target price (up from $156.00) on shares of Philip Morris International in a report 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 stock from $130.00 to $170.00 in a report on Friday, April 25th. Needham & Company LLC assumed coverage on Philip Morris International in a research report on Thursday, May 22nd. They issued a "buy" rating on the stock. Finally, Wall Street Zen raised Philip Morris International from a "hold" rating to a "buy" rating in a research report on Saturday. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $176.80.

Philip Morris International Stock Down 0.2%

PM opened at $184.54 on Wednesday. The firm has a 50-day moving average price of $174.86 and a 200-day moving average price of $151.88. Philip Morris International Inc. has a twelve month low of $100.80 and a twelve month high of $186.69. The company has a market capitalization of $287.24 billion, a price-to-earnings ratio of 38.05, a PEG ratio of 2.68 and a beta of 0.52.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $9.10 billion. During the same period in the previous year, the business earned $1.50 earnings per share. The firm's quarterly revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.93%. The ex-dividend date is Friday, June 27th. Philip Morris International's payout ratio is 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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