Spire Wealth Management lowered its position in shares of Philip Morris International Inc. (NYSE:PM – Get Rating) by 19.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,414 shares of the company’s stock after selling 6,672 shares during the period. Spire Wealth Management’s holdings in Philip Morris International were worth $2,575,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Bivin & Associates Inc. bought a new stake in Philip Morris International during the fourth quarter valued at about $27,000. American National Bank boosted its position in Philip Morris International by 89.1% during the first quarter. American National Bank now owns 312 shares of the company’s stock valued at $29,000 after purchasing an additional 147 shares in the last quarter. Covestor Ltd bought a new stake in Philip Morris International during the fourth quarter valued at about $32,000. Northwest Investment Counselors LLC bought a new stake in Philip Morris International during the fourth quarter valued at about $37,000. Finally, Bromfield Sneider Wealth Advisors bought a new stake in Philip Morris International during the first quarter valued at about $37,000. Hedge funds and other institutional investors own 74.78% of the company’s stock.
A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group downgraded Philip Morris International from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $116.00 to $100.00 in a research report on Tuesday, March 22nd. JPMorgan Chase & Co. downgraded Philip Morris International from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $130.00 to $110.00 in a report on Monday, March 7th. Bank of America raised their price target on Philip Morris International from $107.00 to $117.00 in a report on Sunday, April 24th. Morgan Stanley raised their price target on Philip Morris International from $104.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, April 22nd. Finally, Stifel Nicolaus lowered their price target on Philip Morris International from $115.00 to $105.00 and set a “buy” rating for the company in a report on Friday, March 25th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Philip Morris International currently has an average rating of “Moderate Buy” and a consensus target price of $111.75.
Philip Morris International stock opened at $102.71 on Tuesday. Philip Morris International Inc. has a 52 week low of $85.64 and a 52 week high of $112.48. The company has a market capitalization of $159.21 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 3.64 and a beta of 0.66. The stock has a 50-day moving average price of $102.61 and a 200 day moving average price of $100.26.
Philip Morris International (NYSE:PM – Get Rating) last released its earnings results on Thursday, April 21st. The company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.08. Philip Morris International had a negative return on equity of 110.49% and a net margin of 10.97%. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.43 billion. During the same quarter in the previous year, the company posted $1.57 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. On average, analysts expect that Philip Morris International Inc. will post 5.53 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Friday, July 1st will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 4.87%. The ex-dividend date of this dividend is Thursday, June 30th. Philip Morris International’s dividend payout ratio is currently 86.51%.
About Philip Morris International (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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