Invst LLC Reduces Holdings in Philip Morris International Inc. (NYSE:PM)

Invst LLC decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 58.9% during the first quarter, Holdings Channel.com reports. The fund owned 4,305 shares of the company’s stock after selling 6,182 shares during the period. Invst LLC’s holdings in Philip Morris International were worth $394,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PM. Vanguard Group Inc. boosted its position in Philip Morris International by 0.4% in the first quarter. Vanguard Group Inc. now owns 136,556,344 shares of the company’s stock valued at $12,511,292,000 after buying an additional 481,636 shares during the last quarter. Capital World Investors boosted its position in Philip Morris International by 1.5% in the first quarter. Capital World Investors now owns 111,247,656 shares of the company’s stock valued at $10,192,510,000 after buying an additional 1,684,992 shares during the last quarter. Capital Research Global Investors boosted its position in Philip Morris International by 3.1% in the first quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock valued at $5,517,085,000 after buying an additional 1,800,864 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Philip Morris International by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,396,354 shares of the company’s stock valued at $1,226,746,000 after buying an additional 125,919 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Philip Morris International by 0.6% in the fourth quarter. Northern Trust Corp now owns 13,126,737 shares of the company’s stock valued at $1,234,963,000 after buying an additional 77,820 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

PM has been the topic of a number of recent research reports. Bank of America upped their target price on Philip Morris International from $110.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft upped their price objective on Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Stifel Nicolaus upped their price objective on Philip Morris International from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. upped their price objective on Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $107.80.

Philip Morris International Trading Up 0.3 %

NYSE:PM traded up $0.36 during trading hours on Friday, hitting $117.82. The company had a trading volume of 7,405,946 shares, compared to its average volume of 5,061,314. The company has a 50-day moving average of $104.84 and a 200 day moving average of $97.24. The company has a market cap of $183.19 billion, a P/E ratio of 23.01, a P/E/G ratio of 2.35 and a beta of 0.58. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $119.06.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.02. The company had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.60 EPS. On average, analysts forecast that Philip Morris International Inc. will post 6.41 earnings per share for the current year.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Friday, June 21st were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend was Friday, June 21st. Philip Morris International’s dividend payout ratio is presently 101.56%.

Insider Transactions at Philip Morris International

In other news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the transaction, the insider now directly owns 158,447 shares in the company, valued at approximately $17,906,095.47. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.13% of the company’s stock.

Philip Morris International 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.