Wealthspire Advisors LLC lessened its stake in shares of Philip Morris International Inc. (NYSE:PM – Get Rating) by 21.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,005 shares of the company's stock after selling 3,898 shares during the period. Wealthspire Advisors LLC's holdings in Philip Morris International were worth $1,316,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Bivin & Associates Inc. bought a new position in shares of Philip Morris International during the 4th quarter valued at about $27,000. Sandy Cove Advisors LLC bought a new stake in Philip Morris International during the first quarter worth approximately $28,000. American National Bank lifted its stake in shares of Philip Morris International by 89.1% in the 1st quarter. American National Bank now owns 312 shares of the company's stock valued at $29,000 after purchasing an additional 147 shares during the last quarter. Covestor Ltd purchased a new position in shares of Philip Morris International in the 4th quarter worth approximately $32,000. Finally, Bromfield Sneider Wealth Advisors purchased a new position in shares of Philip Morris International in the 1st quarter worth approximately $37,000. Institutional investors own 74.78% of the company's stock.
Get Philip Morris International alerts:Philip Morris International Stock Down 0.4 %
Shares of Philip Morris International stock opened at $97.60 on Friday. The stock's fifty day moving average is $98.48 and its two-hundred day moving average is $100.10. The company has a market capitalization of $151.30 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 3.79 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.
Philip Morris International (NYSE:PM – Get Rating) last announced its quarterly earnings data on Thursday, July 21st. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.26 by $0.22. The company had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $6.76 billion. Philip Morris International had a negative return on equity of 115.36% and a net margin of 11.05%. Philip Morris International's quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.57 EPS. As a group, research analysts anticipate that Philip Morris International Inc. will post 5.99 earnings per share for the current year.Philip Morris International Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Friday, July 1st were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date of this dividend was Thursday, June 30th. Philip Morris International's payout ratio is 85.91%.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on PM. StockNews.com raised Philip Morris International from a "hold" rating to a "buy" rating in a research report on Tuesday, July 26th. Jefferies Financial Group cut their target price on Philip Morris International from $107.00 to $99.00 in a research report on Tuesday, July 19th. Bank of America boosted their target price on Philip Morris International from $107.00 to $117.00 in a research report on Sunday, April 24th. Finally, Morgan Stanley boosted their target price on Philip Morris International from $104.00 to $112.00 and gave the company an "overweight" rating in a research report on Friday, April 22nd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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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