Swiss National Bank Lowers Position in Philip Morris International Inc. (NYSE:PM)

Key Points

• The Swiss National Bank reduced its stake in Philip Morris International Inc. by selling 7,000 shares, decreasing its holdings to approximately 4.39 million shares, representing 0.5% of the bank's overall portfolio.
• In its latest earnings report, Philip Morris International posted an EPS of $1.91, exceeding analyst expectations, although its quarterly revenue fell short of estimates at $10.14 billion.
• Recent analyst updates suggest a generally positive outlook for the company, with numerous price target increases, including JPMorgan Chase raising their target from $175 to $190 while maintaining an "overweight" rating.

Swiss National Bank reduced its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 0.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,385,200 shares of the company's stock after selling 7,000 shares during the period. Philip Morris International comprises approximately 0.5% of Swiss National Bank's holdings, making the stock its 25th largest position. Swiss National Bank owned approximately 0.28% of Philip Morris International worth $696,063,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. AlphaCore Capital LLC bought a new position in shares of Philip Morris International in the first quarter valued at approximately $378,000. WBH Advisory Inc. boosted its stake in Philip Morris International by 27.6% during the first quarter. WBH Advisory Inc. now owns 5,509 shares of the company's stock worth $874,000 after buying an additional 1,191 shares in the last quarter. Y.D. More Investments Ltd boosted its stake in Philip Morris International by 23.3% during the first quarter. Y.D. More Investments Ltd now owns 1,529 shares of the company's stock worth $243,000 after buying an additional 289 shares in the last quarter. WealthPlan Investment Management LLC lifted its holdings in shares of Philip Morris International by 8.3% during the first quarter. WealthPlan Investment Management LLC now owns 3,519 shares of the company's stock valued at $559,000 after acquiring an additional 269 shares during the period. Finally, Ironwood Investment Counsel LLC lifted its holdings in shares of Philip Morris International by 6.7% during the first quarter. Ironwood Investment Counsel LLC now owns 2,568 shares of the company's stock valued at $408,000 after acquiring an additional 162 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Stock Up 1.2%

PM stock traded up $2.06 during midday trading on Friday, hitting $170.23. The company's stock had a trading volume of 3,774,105 shares, compared to its average volume of 7,011,663. The stock's 50-day moving average price is $176.29 and its 200 day moving average price is $163.44. Philip Morris International Inc. has a 1 year low of $115.62 and a 1 year high of $186.69. The stock has a market cap of $264.98 billion, a price-to-earnings ratio of 32.36, a PEG ratio of 2.48 and a beta of 0.48.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings results 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 negative return on equity of 120.86% and a net margin of 9.03%. The firm had revenue of $10.14 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same quarter in the prior year, the firm earned $1.59 EPS. The business's revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Friday, June 27th. Philip Morris International's dividend payout ratio is currently 102.66%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Citigroup reaffirmed an "overweight" rating on shares of Philip Morris International in a report on Tuesday, July 22nd. Bank of America lifted their price objective on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Barclays reduced their price objective on shares of Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Stifel Nicolaus boosted their price objective on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $195.00 price target on shares of Philip Morris International in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $186.27.

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.