Arete Wealth Advisors LLC lowered its position in shares of Philip Morris International Inc. (NYSE:PM – Get Rating) by 6.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,806 shares of the company's stock after selling 699 shares during the period. Arete Wealth Advisors LLC's holdings in Philip Morris International were worth $921,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Carnegie Capital Asset Management LLC grew its stake in shares of Philip Morris International by 2.6% during the first quarter. Carnegie Capital Asset Management LLC now owns 8,836 shares of the company's stock worth $830,000 after purchasing an additional 223 shares in the last quarter. Crestwood Advisors Group LLC boosted its stake in Philip Morris International by 6.0% in the fourth quarter. Crestwood Advisors Group LLC now owns 28,978 shares of the company's stock valued at $2,753,000 after acquiring an additional 1,631 shares in the last quarter. Parallel Advisors LLC boosted its stake in Philip Morris International by 2.2% in the first quarter. Parallel Advisors LLC now owns 13,767 shares of the company's stock valued at $1,293,000 after acquiring an additional 302 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Philip Morris International by 13.9% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,523 shares of the company's stock valued at $143,000 after acquiring an additional 186 shares in the last quarter. Finally, First Community Trust NA boosted its stake in Philip Morris International by 1.6% in the first quarter. First Community Trust NA now owns 8,478 shares of the company's stock valued at $796,000 after acquiring an additional 133 shares in the last quarter. Institutional investors and hedge funds own 74.78% of the company's stock.
Get Philip Morris International alerts:Philip Morris International Stock Up 0.2 %
NYSE PM opened at $98.81 on Thursday. The stock has a market capitalization of $153.17 billion, a P/E ratio of 16.98, a P/E/G ratio of 3.90 and a beta of 0.62. Philip Morris International Inc. has a 52-week low of $85.64 and a 52-week high of $112.48. The firm has a 50-day moving average price of $98.87 and a 200 day moving average price of $100.18.
Philip Morris International (NYSE:PM – Get Rating) last posted its quarterly earnings results on Thursday, July 21st. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.22. The firm had revenue of $7.83 billion during the quarter, compared to analysts' expectations of $6.76 billion. Philip Morris International had a net margin of 11.05% and a negative return on equity of 115.36%. The firm's revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the company posted $1.57 earnings per share. On average, equities research analysts expect that Philip Morris International Inc. will post 5.56 earnings per share for the current fiscal year.Philip Morris International Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Friday, July 1st were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Thursday, June 30th. This represents a $5.00 annualized dividend and a yield of 5.06%. Philip Morris International's dividend payout ratio is currently 85.91%.
Wall Street Analyst Weigh In
PM has been the subject of several research analyst reports. StockNews.com upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Tuesday, July 26th. Morgan Stanley upped their price objective on shares of Philip Morris International from $104.00 to $112.00 and gave the company an "overweight" rating in a research note on Friday, April 22nd. Bank of America upped their target price on shares of Philip Morris International from $107.00 to $117.00 in a report on Sunday, April 24th. Finally, Jefferies Financial Group reduced their target price on shares of Philip Morris International from $107.00 to $99.00 in a report on Tuesday, July 19th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Philip Morris International presently has a consensus rating of "Moderate Buy" and a consensus price target of $110.33.
About Philip Morris International
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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 that are sold in markets outside the United States.
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