World Equity Group Inc. Cuts Stake in Philip Morris International Inc. (NYSE:PM)

World Equity Group Inc. lessened its stake in shares of Philip Morris International Inc. (NYSE:PM) by 51.4% during the first quarter, HoldingsChannel reports. The firm owned 1,845 shares of the company’s stock after selling 1,955 shares during the period. World Equity Group Inc.’s holdings in Philip Morris International were worth $276,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PM. Lloyd Advisory Services LLC. grew its position in Philip Morris International by 3.3% in the first quarter. Lloyd Advisory Services LLC. now owns 2,032 shares of the company’s stock worth $323,000 after acquiring an additional 64 shares in the last quarter. Omnia Family Wealth LLC lifted its stake in shares of Philip Morris International by 1.7% in the 4th quarter. Omnia Family Wealth LLC now owns 3,851 shares of the company’s stock valued at $469,000 after purchasing an additional 65 shares during the last quarter. Wagner Wealth Management LLC boosted its holdings in Philip Morris International by 1.0% in the first quarter. Wagner Wealth Management LLC now owns 6,459 shares of the company’s stock worth $1,025,000 after purchasing an additional 67 shares in the last quarter. Sonora Investment Management Group LLC boosted its holdings in Philip Morris International by 0.6% in the first quarter. Sonora Investment Management Group LLC now owns 11,240 shares of the company’s stock worth $1,784,000 after purchasing an additional 68 shares in the last quarter. Finally, Essex Savings Bank raised its holdings in Philip Morris International by 2.0% during the first quarter. Essex Savings Bank now owns 3,443 shares of the company’s stock valued at $547,000 after buying an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

PM has been the topic of a number of analyst reports. Barclays reissued an “overweight” rating and set a $220.00 price objective (up previously from $205.00) on shares of Philip Morris International in a report on Friday, June 13th. Wall Street Zen upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Saturday. Bank of America lifted their price target on shares of Philip Morris International from $182.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. Morgan Stanley reaffirmed an “overweight” rating and set a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Finally, Citigroup lifted their target price on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 16th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $176.80.

Philip Morris International Trading Down 0.0%

Shares of PM stock opened at $182.57 on Friday. The firm has a market capitalization of $284.18 billion, a P/E ratio of 37.64, a price-to-earnings-growth ratio of 2.66 and a beta of 0.52. Philip Morris International Inc. has a 1 year low of $99.86 and a 1 year high of $186.69. The firm’s fifty day simple moving average is $173.82 and its 200 day simple moving average is $151.14.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.08. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the business posted $1.50 EPS. Equities research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be issued a $1.35 dividend. The ex-dividend date is Friday, June 27th. This represents a $5.40 annualized dividend and a yield of 2.96%. Philip Morris International’s dividend payout ratio (DPR) is 111.34%.

Philip Morris International 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.