Byrne Asset Management LLC Has $151,000 Position in Philip Morris International Inc. (NYSE:PM)

Byrne Asset Management LLC reduced its position in shares of Philip Morris International Inc. (NYSE:PM) by 46.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 950 shares of the company’s stock after selling 832 shares during the quarter. Byrne Asset Management LLC’s holdings in Philip Morris International were worth $151,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Lloyd Advisory Services LLC. raised its position in shares of Philip Morris International by 3.3% in the 1st quarter. Lloyd Advisory Services LLC. now owns 2,032 shares of the company’s stock valued at $323,000 after buying an additional 64 shares in the last quarter. Omnia Family Wealth LLC raised its position in shares of Philip Morris International by 1.7% in the 4th quarter. Omnia Family Wealth LLC now owns 3,851 shares of the company’s stock valued at $469,000 after buying an additional 65 shares in the last quarter. Sonora Investment Management Group LLC raised its position in shares of Philip Morris International by 0.6% in the 1st quarter. Sonora Investment Management Group LLC now owns 11,240 shares of the company’s stock valued at $1,784,000 after buying an additional 68 shares in the last quarter. Meridian Wealth Partners LLC raised its position in shares of Philip Morris International by 4.1% in the 4th quarter. Meridian Wealth Partners LLC now owns 1,781 shares of the company’s stock valued at $214,000 after buying an additional 70 shares in the last quarter. Finally, NewSquare Capital LLC raised its position in shares of Philip Morris International by 53.7% in the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock valued at $25,000 after buying an additional 72 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Needham & Company LLC assumed coverage on shares of Philip Morris International in a research report on Thursday, May 22nd. They issued a “buy” rating for the company. Wall Street Zen cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. UBS Group upgraded shares of Philip Morris International from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $130.00 to $170.00 in a research report on Friday, April 25th. Argus upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Friday, March 14th. Finally, Bank of America upped their price objective on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $176.80.

Philip Morris International Stock Performance

Shares of NYSE PM opened at $184.01 on Friday. The firm has a 50 day moving average price of $170.67 and a two-hundred day moving average price of $149.22. Philip Morris International Inc. has a 52-week low of $98.93 and a 52-week high of $185.16. The stock has a market cap of $286.41 billion, a P/E ratio of 40.80, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.08. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same period in the prior year, the firm posted $1.50 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.93%. Philip Morris International’s dividend payout ratio is currently 111.34%.

Philip Morris International Company 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.