World Equity Group Inc. Decreases Holdings in Philip Morris International Inc. (NYSE:PM)

World Equity Group Inc. lowered its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 51.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,845 shares of the company's stock after selling 1,955 shares during the period. World Equity Group Inc.'s holdings in Philip Morris International were worth $276,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. NewSquare Capital LLC increased its position in shares of Philip Morris International by 53.7% in the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company's stock valued at $25,000 after buying an additional 72 shares in the last quarter. Pacifica Partners Inc. grew its stake in Philip Morris International by 115.0% in the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after acquiring an additional 115 shares during the last quarter. Ameriflex Group Inc. purchased a new position in Philip Morris International during the 4th quarter valued at about $36,000. Knuff & Co LLC acquired a new position in Philip Morris International during the fourth quarter worth about $36,000. Finally, Ball & Co Wealth Management Inc. purchased a new stake in shares of Philip Morris International in the fourth quarter valued at about $36,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Stock Down 0.0%

Shares of NYSE PM opened at $182.57 on Friday. The stock has a market capitalization of $284.18 billion, a PE ratio of 37.64, a P/E/G ratio of 2.66 and a beta of 0.52. The firm has a fifty day moving average of $173.82 and a 200-day moving average of $151.14. Philip Morris International Inc. has a 52-week low of $99.86 and a 52-week 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.61 by $0.08. The firm had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.10 billion. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The firm's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.50 earnings per share. Equities research analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PM. 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. Barclays reissued an "overweight" rating and set a $220.00 price target (up previously from $205.00) on shares of Philip Morris International in a research report on Friday, June 13th. Needham & Company LLC assumed coverage on Philip Morris International in a report on Thursday, May 22nd. They issued a "buy" rating for the company. Argus raised Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. Finally, UBS Group upgraded Philip Morris International from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $130.00 to $170.00 in a research report on Friday, April 25th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $176.80.

About Philip Morris International

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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