Mezzasalma Advisors LLC Trims Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Mezzasalma Advisors LLC reduced its position in Philip Morris International Inc. (NYSE:PM) by 4.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,773 shares of the company’s stock after selling 87 shares during the quarter. Mezzasalma Advisors LLC’s holdings in Philip Morris International were worth $281,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PM. NewSquare Capital LLC grew its position in Philip Morris International by 53.7% during the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock worth $25,000 after purchasing an additional 72 shares during the last quarter. Pacifica Partners Inc. boosted its stake in shares of Philip Morris International by 115.0% during the first quarter. Pacifica Partners Inc. now owns 215 shares of the company’s stock worth $35,000 after buying an additional 115 shares during the period. Ameriflex Group Inc. purchased a new position in shares of Philip Morris International during the fourth quarter worth about $36,000. Knuff & Co LLC acquired a new position in Philip Morris International in the 4th quarter valued at about $36,000. Finally, Ball & Co Wealth Management Inc. acquired a new position in Philip Morris International in the 4th quarter valued at about $36,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PM. Barclays reiterated an “overweight” rating and issued a $220.00 target price (up from $205.00) on shares of Philip Morris International in a research note on Friday, June 13th. Morgan Stanley reaffirmed an “overweight” rating and set a $182.00 price target (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. UBS Group raised shares of Philip Morris International from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $130.00 to $170.00 in a research note on Friday, April 25th. Needham & Company LLC initiated coverage on shares of Philip Morris International in a research report on Thursday, May 22nd. They set a “buy” rating for the company. Finally, Stifel Nicolaus lifted their target price on shares of Philip Morris International from $168.00 to $186.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $176.80.

Philip Morris International Stock Performance

Philip Morris International stock opened at $183.50 on Wednesday. The company has a market cap of $285.63 billion, a P/E ratio of 37.84, a price-to-earnings-growth ratio of 2.66 and a beta of 0.52. Philip Morris International Inc. has a one year low of $98.93 and a one year high of $186.69. The business has a fifty day moving average of $172.01 and a two-hundred day moving average of $150.05.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.08. The business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.10 billion. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.50 EPS. Sell-side analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be given a dividend of $1.35 per share. The ex-dividend date is Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.94%. Philip Morris International’s payout ratio is 111.34%.

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.