River Wealth Advisors LLC decreased its stake in Philip Morris International Inc. (NYSE:PM) by 19.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,278 shares of the company’s stock after selling 563 shares during the period. River Wealth Advisors LLC’s holdings in Philip Morris International were worth $201,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC bought a new stake in shares of Philip Morris International in the fourth quarter worth about $27,000. CX Institutional increased its holdings in shares of Philip Morris International by 432.1% in the first quarter. CX Institutional now owns 447 shares of the company’s stock worth $40,000 after acquiring an additional 363 shares in the last quarter. Transamerica Financial Advisors Inc. increased its holdings in shares of Philip Morris International by 552.8% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 470 shares of the company’s stock worth $32,000 after acquiring an additional 398 shares in the last quarter. Shamrock Asset Management LLC increased its holdings in shares of Philip Morris International by 53.9% in the first quarter. Shamrock Asset Management LLC now owns 571 shares of the company’s stock worth $50,000 after acquiring an additional 200 shares in the last quarter. Finally, Claybrook Capital LLC bought a new stake in shares of Philip Morris International in the fourth quarter worth about $39,000. 73.52% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Michael R. Kunst purchased 1,000 shares of Philip Morris International stock in a transaction that occurred on Friday, May 31st. The stock was purchased at an average cost of $79.66 per share, with a total value of $79,660.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mario Masseroli sold 1,200 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $84.32, for a total value of $101,184.00. The disclosure for this sale can be found here. Insiders have purchased 4,000 shares of company stock valued at $331,705 over the last three months. Insiders own 0.21% of the company’s stock.
Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, April 18th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.10. The business had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.76 billion. Philip Morris International had a negative return on equity of 78.74% and a net margin of 9.74%. Philip Morris International’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the company earned $1.00 earnings per share. On average, analysts anticipate that Philip Morris International Inc. will post 5.14 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 21st will be issued a dividend of $1.14 per share. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.91%. Philip Morris International’s payout ratio is presently 89.41%.
Several equities research analysts have issued reports on PM shares. Zacks Investment Research upgraded Philip Morris International from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd. ValuEngine downgraded Philip Morris International from a “hold” rating to a “sell” rating in a report on Tuesday, April 9th. Morgan Stanley increased their price objective on Philip Morris International from $88.00 to $94.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. UBS Group upgraded Philip Morris International from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $86.00 to $101.00 in a report on Wednesday, February 27th. Finally, Bank of America reiterated a “sell” rating and set a $74.00 price objective on shares of Philip Morris International in a report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $92.57.
Philip Morris International Profile
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and 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 Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.
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