Covenant Partners LLC Has $884,000 Stake in Philip Morris International Inc. (NYSE:PM)

Covenant Partners LLC trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PMFree Report) by 1.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,392 shares of the company’s stock after selling 126 shares during the period. Covenant Partners LLC’s holdings in Philip Morris International were worth $884,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PM. Headlands Technologies LLC acquired a new stake in Philip Morris International during the 3rd quarter valued at $27,000. Tennessee Valley Asset Management Partners acquired a new stake in Philip Morris International during the 4th quarter valued at $33,000. Northwest Financial Advisors acquired a new stake in Philip Morris International during the 4th quarter valued at $33,000. Wetzel Investment Advisors Inc. acquired a new stake in Philip Morris International during the 4th quarter valued at $39,000. Finally, Quarry LP increased its holdings in Philip Morris International by 307.5% during the 4th quarter. Quarry LP now owns 436 shares of the company’s stock valued at $41,000 after purchasing an additional 329 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Trading Up 0.2 %

Shares of NYSE:PM traded up $0.22 during midday trading on Friday, hitting $102.20. The company had a trading volume of 5,463,445 shares, compared to its average volume of 5,454,335. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $104.90. The stock has a market cap of $158.88 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 2.11 and a beta of 0.57. The firm has a fifty day simple moving average of $97.85 and a 200 day simple moving average of $94.32.

Philip Morris International (NYSE:PMGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.09. Philip Morris International had a negative return on equity of 113.26% and a net margin of 8.58%. The business had revenue of $8.79 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same period last year, the company earned $1.38 EPS. The firm’s revenue was up 8.6% on a year-over-year basis. Equities analysts forecast that Philip Morris International Inc. will post 6.32 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Friday, June 21st will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, June 21st. This represents a $5.20 annualized dividend and a yield of 5.09%. Philip Morris International’s dividend payout ratio is presently 101.56%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PM. Stifel Nicolaus lifted their target price on Philip Morris International from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Argus reissued a “hold” rating on shares of Philip Morris International in a research note on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $105.50.

Get Our Latest Research Report on PM

Insiders Place Their Bets

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $96.42, for a total transaction of $1,928,400.00. Following the transaction, the insider now directly owns 178,447 shares in the company, valued at $17,205,859.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Philip Morris International Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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