Means Investment CO. Inc. Decreases Stock Position in Philip Morris International Inc. (NYSE:PM)

Means Investment CO. Inc. lowered its stake in Philip Morris International Inc. (NYSE:PM) by 5.7% during the 1st quarter, Holdings Channel reports. The firm owned 38,738 shares of the company’s stock after selling 2,360 shares during the quarter. Philip Morris International makes up about 0.8% of Means Investment CO. Inc.’s holdings, making the stock its 26th biggest position. Means Investment CO. Inc.’s holdings in Philip Morris International were worth $3,438,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Edge Capital Group LLC raised its position in shares of Philip Morris International by 3.7% during the 4th quarter. Edge Capital Group LLC now owns 3,319 shares of the company’s stock valued at $275,000 after buying an additional 118 shares in the last quarter. Formidable Asset Management LLC raised its position in shares of Philip Morris International by 2.0% during the 3rd quarter. Formidable Asset Management LLC now owns 6,080 shares of the company’s stock valued at $454,000 after buying an additional 120 shares in the last quarter. Summit Financial Wealth Advisors LLC raised its position in shares of Philip Morris International by 2.2% during the 4th quarter. Summit Financial Wealth Advisors LLC now owns 5,599 shares of the company’s stock valued at $420,000 after buying an additional 122 shares in the last quarter. Parkside Financial Bank & Trust raised its position in shares of Philip Morris International by 1.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 7,771 shares of the company’s stock valued at $644,000 after buying an additional 129 shares in the last quarter. Finally, Sound Income Strategies LLC raised its position in shares of Philip Morris International by 9.0% during the 4th quarter. Sound Income Strategies LLC now owns 1,624 shares of the company’s stock valued at $134,000 after buying an additional 134 shares in the last quarter. Institutional investors and hedge funds own 74.18% of the company’s stock.

In other Philip Morris International news, VP Marian Salzman sold 2,000 shares of the company’s stock in a transaction dated Friday, February 5th. The shares were sold at an average price of $84.39, for a total value of $168,780.00. The sale was disclosed in a filing with the SEC, which is available through this link. 0.22% of the stock is owned by corporate insiders.

PM has been the topic of several recent research reports. Morgan Stanley upped their target price on shares of Philip Morris International from $94.00 to $103.00 and gave the company an “overweight” rating in a research report on Wednesday, March 3rd. Sanford C. Bernstein started coverage on shares of Philip Morris International in a report on Tuesday, January 19th. They set a “market perform” rating and a $92.00 price target on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price target on shares of Philip Morris International from $100.00 to $105.00 in a report on Friday, January 8th. Smith Barney Citigroup reiterated a “” rating and set a $105.00 price target (up previously from $100.00) on shares of Philip Morris International in a report on Friday, January 8th. Finally, Edward Jones downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Tuesday, December 15th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $97.64.

PM stock traded up $0.73 during mid-day trading on Thursday, reaching $89.01. The company had a trading volume of 20,775 shares, compared to its average volume of 4,796,925. The company has a market capitalization of $138.72 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 2.27 and a beta of 0.77. The firm has a 50 day moving average of $87.43 and a 200 day moving average of $81.18. Philip Morris International Inc. has a 12 month low of $66.85 and a 12 month high of $91.25.

Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, February 4th. The company reported $1.26 EPS for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.05. The business had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.41 billion. Philip Morris International had a net margin of 10.07% and a negative return on equity of 78.02%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.22 EPS. Equities analysts anticipate that Philip Morris International Inc. will post 5.13 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 9th. Shareholders of record on Monday, March 22nd will be paid a $1.20 dividend. The ex-dividend date of this dividend is Friday, March 19th. This represents a $4.80 dividend on an annualized basis and a yield of 5.39%. Philip Morris International’s dividend payout ratio is currently 92.49%.

Philip Morris International Company Profile

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, smoke-free products, and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Creations, HEETS Dimensions, HEETS Marlboro, HEETS FROM MARLBORO, Marlboro Dimensions, Marlboro HeatSticks, and Parliament HeatSticks brands, as well as under the Fiit and Miix licensed brands.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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