Philip Morris International Inc. (NYSE:PM) Shares Sold by McLean Asset Management Corp

McLean Asset Management Corp trimmed its holdings in Philip Morris International Inc. (NYSE:PM) by 8.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,862 shares of the company’s stock after selling 258 shares during the period. McLean Asset Management Corp’s holdings in Philip Morris International were worth $427,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. NewSquare Capital LLC grew its holdings in shares of Philip Morris International by 53.7% in the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock valued at $25,000 after purchasing an additional 72 shares during the period. Pacifica Partners Inc. grew its holdings in shares of Philip Morris International by 115.0% in the first quarter. Pacifica Partners Inc. now owns 215 shares of the company’s stock valued at $35,000 after purchasing an additional 115 shares during the period. Ameriflex Group Inc. purchased a new stake in shares of Philip Morris International in the fourth quarter valued at about $36,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Philip Morris International in the fourth quarter valued at about $33,000. Finally, Knuff & Co LLC purchased a new stake in shares of Philip Morris International in the fourth quarter valued at about $36,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC assumed coverage on shares of Philip Morris International in a report on Thursday, May 22nd. They issued a “buy” rating for the company. Argus raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, March 14th. JPMorgan Chase & Co. increased their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Citigroup increased their target price on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 16th. Finally, Barclays increased their target price on shares of Philip Morris International from $175.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $169.20.

Philip Morris International Stock Performance

NYSE PM opened at $182.78 on Tuesday. The firm has a 50 day simple moving average of $165.83 and a 200-day simple moving average of $146.27. Philip Morris International Inc. has a one year low of $98.93 and a one year high of $182.83. The firm has a market cap of $284.49 billion, a price-to-earnings ratio of 40.53, a PEG ratio of 2.65 and a beta of 0.50.

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 the consensus estimate 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 business had revenue of $9.30 billion during the quarter, compared to analyst estimates of $9.10 billion. During the same quarter last year, the firm posted $1.50 earnings per share. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 20th were issued a $1.35 dividend. The ex-dividend date was Thursday, March 20th. This represents a $5.40 annualized dividend and a yield of 2.95%. Philip Morris International’s dividend payout ratio (DPR) is 111.34%.

Insider Activity at Philip Morris International

In other news, insider Lars Dahlgren sold 3,679 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $152.96, for a total transaction of $562,739.84. Following the completion of the sale, the insider now owns 26,828 shares in the company, valued at approximately $4,103,610.88. The trade was a 12.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is owned by corporate insiders.

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.