Philip Morris International Inc. (NYSE:PM) Shares Sold by Inlet Private Wealth LLC

Inlet Private Wealth LLC decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 3.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,353 shares of the company’s stock after selling 105 shares during the period. Inlet Private Wealth LLC’s holdings in Philip Morris International were worth $532,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PM. Perigon Wealth Management LLC lifted its position in Philip Morris International by 0.4% in the first quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company’s stock valued at $2,236,000 after purchasing an additional 60 shares during the period. TBH Global Asset Management LLC lifted its position in Philip Morris International by 0.9% in the first quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company’s stock valued at $1,100,000 after purchasing an additional 61 shares during the period. Capital Advisors Wealth Management LLC lifted its position in Philip Morris International by 2.1% in the first quarter. Capital Advisors Wealth Management LLC now owns 3,005 shares of the company’s stock valued at $477,000 after purchasing an additional 63 shares during the period. Lloyd Advisory Services LLC. lifted its position in Philip Morris International by 3.3% in the first quarter. Lloyd Advisory Services LLC. now owns 2,032 shares of the company’s stock valued at $323,000 after purchasing an additional 64 shares during the period. Finally, Western Wealth Management LLC lifted its position in Philip Morris International by 1.5% in the first quarter. Western Wealth Management LLC now owns 4,446 shares of the company’s stock valued at $706,000 after purchasing an additional 64 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Price Performance

Shares of PM opened at $160.92 on Monday. The firm has a 50 day simple moving average of $178.86 and a 200-day simple moving average of $160.67. Philip Morris International Inc. has a 1-year low of $112.43 and a 1-year high of $186.69. The stock has a market cap of $250.47 billion, a price-to-earnings ratio of 30.59, a price-to-earnings-growth ratio of 2.34 and a beta of 0.51.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.05. Philip Morris International had a net margin of 10.57% and a negative return on equity of 120.86%. The business had revenue of $10.14 billion during the quarter, compared to analysts’ expectations of $10.33 billion. During the same period last year, the company posted $1.59 EPS. The company’s revenue was up 7.1% on a year-over-year basis. On average, equities analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.36%. Philip Morris International’s dividend payout ratio (DPR) is 102.66%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. UBS Group raised their price objective on shares of Philip Morris International from $170.00 to $181.00 and gave the company a “neutral” rating in a research report on Monday, July 14th. Morgan Stanley reiterated an “overweight” rating and set a $182.00 price target (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. JPMorgan Chase & Co. lifted their price target on shares of Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Jefferies Financial Group started coverage on shares of Philip Morris International in a research report on Wednesday, July 9th. They set a “buy” rating and a $220.00 price target for the company. Finally, Citigroup reiterated an “overweight” rating on shares of Philip Morris International in a research report on Tuesday, July 22nd. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Philip Morris International has an average rating of “Moderate Buy” and an average target price of $186.73.

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.