Philip Morris International Inc. (NYSE:PM) Shares Sold by Cornerstone Advisory LLC

Cornerstone Advisory LLC cut its stake in shares of Philip Morris International Inc. (NYSE:PM) by 4.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,217 shares of the company’s stock after selling 284 shares during the quarter. Cornerstone Advisory LLC’s holdings in Philip Morris International were worth $1,082,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PM. Brighton Jones LLC grew its position in shares of Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock worth $1,027,000 after buying an additional 2,023 shares in the last quarter. Revolve Wealth Partners LLC grew its position in shares of Philip Morris International by 4.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock worth $252,000 after buying an additional 91 shares in the last quarter. American Century Companies Inc. boosted its holdings in Philip Morris International by 37.4% in the fourth quarter. American Century Companies Inc. now owns 14,425 shares of the company’s stock valued at $1,736,000 after purchasing an additional 3,929 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in Philip Morris International in the fourth quarter valued at approximately $209,000. Finally, WINTON GROUP Ltd boosted its holdings in Philip Morris International by 41.8% in the fourth quarter. WINTON GROUP Ltd now owns 5,632 shares of the company’s stock valued at $678,000 after purchasing an additional 1,660 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Price Performance

Philip Morris International stock opened at $160.92 on Friday. Philip Morris International Inc. has a 12 month low of $112.43 and a 12 month high of $186.69. The business has a 50 day simple moving average of $178.86 and a 200-day simple moving average of $160.40. The stock has a market capitalization of $250.47 billion, a PE ratio of 30.59, a price-to-earnings-growth ratio of 2.30 and a beta of 0.51.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.86 by $0.05. Philip Morris International had a negative return on equity of 120.86% and a net margin of 10.57%. The business had revenue of $10.14 billion during the quarter, compared to analysts’ expectations of $10.33 billion. During the same quarter in the prior year, the business earned $1.59 earnings per share. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, equities research analysts anticipate 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 was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.36%. The ex-dividend date was Friday, June 27th. Philip Morris International’s dividend payout ratio (DPR) is presently 102.66%.

Analyst Ratings Changes

PM has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $195.00 price target on shares of Philip Morris International in a report on Wednesday. Morgan Stanley reaffirmed an “overweight” rating and issued a $182.00 price target (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Wall Street Zen raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Sunday, July 20th. UBS Group upped their price target on Philip Morris International from $170.00 to $181.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Finally, Stifel Nicolaus upped their price target on Philip Morris International from $168.00 to $186.00 and gave the company a “buy” rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Philip Morris International has a consensus rating of “Moderate Buy” and a consensus target price of $186.73.

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.