Trinity Legacy Partners LLC cut its stake in shares of Philip Morris International Inc. (NYSE:PM – Get Rating) by 3.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,004 shares of the company’s stock after selling 169 shares during the period. Trinity Legacy Partners LLC’s holdings in Philip Morris International were worth $470,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in PM. Bivin & Associates Inc. purchased a new stake in Philip Morris International during the 4th quarter valued at $27,000. American National Bank raised its stake in Philip Morris International by 89.1% during the 1st quarter. American National Bank now owns 312 shares of the company’s stock valued at $29,000 after buying an additional 147 shares during the last quarter. Covestor Ltd purchased a new stake in Philip Morris International during the 4th quarter valued at $32,000. Northwest Investment Counselors LLC purchased a new stake in Philip Morris International during the 4th quarter valued at $37,000. Finally, Bromfield Sneider Wealth Advisors purchased a new stake in Philip Morris International during the 1st quarter valued at $37,000. Institutional investors and hedge funds own 74.78% of the company’s stock.
PM has been the subject of a number of recent research reports. Stifel Nicolaus cut their price objective on shares of Philip Morris International from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, March 25th. StockNews.com downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, June 18th. Barclays cut their price objective on shares of Philip Morris International from $125.00 to $120.00 in a research report on Friday, February 25th. Bank of America boosted their price objective on shares of Philip Morris International from $107.00 to $117.00 in a research report on Sunday, April 24th. Finally, The Goldman Sachs Group downgraded shares of Philip Morris International from a “buy” rating to a “neutral” rating and cut their price objective for the company from $116.00 to $100.00 in a research report on Tuesday, March 22nd. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and a consensus target price of $111.75.
Philip Morris International (NYSE:PM – Get Rating) last issued its earnings results on Thursday, April 21st. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.08. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.43 billion. Philip Morris International had a net margin of 10.97% and a negative return on equity of 110.49%. Philip Morris International’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.57 EPS. As a group, analysts anticipate that Philip Morris International Inc. will post 5.53 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Friday, July 1st will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 5.04%. The ex-dividend date of this dividend is Thursday, June 30th. Philip Morris International’s dividend payout ratio (DPR) is presently 86.51%.
Philip Morris International Profile (Get Rating)
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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