Twin City Private Wealth LLC Sells 2,557 Shares of Philip Morris International Inc. (NYSE:PM)

Key Points

• Twin City Private Wealth LLC has reduced its holdings in Philip Morris International by 10.3%, selling 2,557 shares, and now owns 22,370 shares, making it the firm's second largest position.
• Analysts have raised their price targets for Philip Morris International, with estimates ranging from $175.00 to $220.00, reflecting a generally positive outlook on the stock.
• The company declared a quarterly dividend of $1.35 per share, resulting in an annualized yield of 3.3%, despite a high dividend payout ratio of 102.66%.

Twin City Private Wealth LLC reduced its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 10.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,370 shares of the company's stock after selling 2,557 shares during the quarter. Philip Morris International accounts for 3.2% of Twin City Private Wealth LLC's portfolio, making the stock its 2nd largest position. Twin City Private Wealth LLC's holdings in Philip Morris International were worth $3,584,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PM. GAMMA Investing LLC boosted its stake in 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. Kovitz Investment Group Partners LLC boosted its stake in 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. Capital World Investors boosted its stake in 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. Lone Pine Capital LLC boosted its stake in Philip Morris International by 44.4% during the 4th quarter. Lone Pine Capital LLC now owns 6,468,372 shares of the company's stock valued at $778,469,000 after purchasing an additional 1,987,716 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Philip Morris International by 22.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,018,628 shares of the company's stock worth $1,431,527,000 after acquiring an additional 1,635,636 shares in the last quarter. 78.63% of the stock is owned by institutional investors.

Philip Morris International Stock Performance

Shares of NYSE PM opened at $163.92 on Wednesday. The business's 50-day simple moving average is $176.93 and its 200-day simple moving average is $162.49. Philip Morris International Inc. has a 52 week low of $113.20 and a 52 week high of $186.69. The firm has a market cap of $255.15 billion, a price-to-earnings ratio of 31.16, a P/E/G ratio of 2.37 and a beta of 0.48.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.86 by $0.05. The business had revenue of $10.14 billion during the quarter, compared to analysts' expectations of $10.33 billion. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. Philip Morris International's revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.59 earnings per share. As a group, equities research analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Friday, June 27th. Philip Morris International's dividend payout ratio is 102.66%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Stifel Nicolaus raised their price objective on Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Morgan Stanley reissued 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. Citigroup reissued an "overweight" rating on shares of Philip Morris International in a research note on Tuesday, July 22nd. Finally, Jefferies Financial Group assumed coverage on Philip Morris International in a research note on Wednesday, July 9th. They set a "buy" rating and a $220.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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.

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