Steph & Co. Reduces Stock Position in Philip Morris International Inc. (NYSE:PM)

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

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Archford Capital Strategies LLC increased its stake in Philip Morris International by 4.0% during the first quarter. Archford Capital Strategies LLC now owns 2,263 shares of the company's stock valued at $359,000 after purchasing an additional 88 shares during the last quarter. Pacific Sage Partners LLC bought a new position in Philip Morris International during the first quarter valued at about $226,000. PBMares Wealth Management LLC boosted its stake in Philip Morris International by 100.6% during the 1st quarter. PBMares Wealth Management LLC now owns 14,545 shares of the company's stock valued at $2,309,000 after purchasing an additional 7,295 shares during the period. Bluesphere Advisors LLC raised its stake in Philip Morris International by 1.6% during the 1st quarter. Bluesphere Advisors LLC now owns 15,509 shares of the company's stock valued at $2,462,000 after purchasing an additional 247 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC lifted its position in shares of Philip Morris International by 0.4% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 822,494 shares of the company's stock worth $130,554,000 after acquiring an additional 2,928 shares during the period. 78.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PM. Morgan Stanley restated an "overweight" rating and issued a $182.00 price target (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Barclays reaffirmed an "overweight" rating and issued a $220.00 target price (up previously from $205.00) on shares of Philip Morris International in a research report on Friday, June 13th. Needham & Company LLC initiated coverage on Philip Morris International in a research note on Thursday, May 22nd. They set a "buy" rating for the company. Bank of America increased their price objective on Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Finally, Citigroup increased their price target on Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a report 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $176.80.

Philip Morris International Trading Up 0.2%

Shares of PM stock traded up $0.45 during trading hours on Friday, hitting $181.11. 7,043,892 shares of the company were exchanged, compared to its average volume of 5,622,344. The firm has a fifty day simple moving average of $175.96 and a 200 day simple moving average of $152.79. Philip Morris International Inc. has a 52-week low of $100.80 and a 52-week high of $186.69. The stock has a market capitalization of $281.90 billion, a price-to-earnings ratio of 37.34, a P/E/G ratio of 2.62 and a beta of 0.52.

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, beating analysts' consensus estimates of $1.61 by $0.08. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The firm had revenue of $9.30 billion during the quarter, compared to analyst estimates of $9.10 billion. During the same period in the previous year, the business earned $1.50 EPS. The business's revenue for the quarter was up 5.8% on a year-over-year basis. Sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

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 given a dividend of $1.35 per share. 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 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.