Longfellow Investment Management Co. LLC Sells 3,037 Shares of Philip Morris International Inc. (NYSE:PM)

Longfellow Investment Management Co. LLC decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 35.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,645 shares of the company’s stock after selling 3,037 shares during the period. Longfellow Investment Management Co. LLC’s holdings in Philip Morris International were worth $896,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PM. Nuveen LLC bought a new stake in Philip Morris International during the first quarter worth about $1,712,994,000. GAMMA Investing LLC lifted its stake in Philip Morris International by 19,986.5% during the first quarter. GAMMA Investing LLC now owns 4,486,928 shares of the company’s stock worth $712,210,000 after purchasing an additional 4,464,590 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its stake in Philip Morris International by 372.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,453,285 shares of the company’s stock worth $656,303,000 after purchasing an additional 4,298,530 shares during the last quarter. Capital World Investors lifted its stake in shares of Philip Morris International by 3.6% in the 4th quarter. Capital World Investors now owns 122,584,210 shares of the company’s stock valued at $14,752,926,000 after acquiring an additional 4,216,586 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Philip Morris International by 57.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock valued at $1,554,686,000 after acquiring an additional 3,575,158 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

PM has been the subject of a number of recent research reports. Barclays lowered their target price on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. 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 research report on Thursday, April 24th. Morgan Stanley reaffirmed an “overweight” rating and set a $182.00 price target (up previously from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. JPMorgan Chase & Co. upped their price target on Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Finally, KGI Securities initiated coverage on Philip Morris International in a research report on Monday, August 4th. They set an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $186.27.

Philip Morris International Trading Up 1.2%

Shares of PM opened at $170.23 on Monday. The business’s fifty day simple moving average is $176.29 and its two-hundred day simple moving average is $163.71. Philip Morris International Inc. has a 12 month low of $115.62 and a 12 month high of $186.69. The company has a market cap of $264.98 billion, a price-to-earnings ratio of 32.36, a P/E/G ratio of 2.48 and a beta of 0.48.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, beating 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 9.03%. The business had revenue of $10.14 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same period last year, the business posted $1.59 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. As a group, research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, June 27th. Philip Morris International’s dividend payout ratio (DPR) is currently 102.66%.

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.