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

Balefire LLC decreased its stake in Philip Morris International Inc. (NYSE:PM) by 42.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,361 shares of the company’s stock after selling 28,656 shares during the quarter. Philip Morris International makes up 2.1% of Balefire LLC’s holdings, making the stock its 9th largest position. Balefire LLC’s holdings in Philip Morris International were worth $6,089,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Brighton Jones LLC boosted its stake in shares of Philip Morris International by 31.1% during the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock worth $1,027,000 after acquiring an additional 2,023 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Philip Morris International by 4.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock worth $252,000 after purchasing an additional 91 shares during the period. Union Bancaire Privee UBP SA acquired a new position in Philip Morris International in the 4th quarter worth about $93,000. FourThought Financial Partners LLC purchased a new position in Philip Morris International during the fourth quarter worth approximately $760,000. Finally, Lake Street Advisors Group LLC boosted its position in Philip Morris International by 9.3% during the fourth quarter. Lake Street Advisors Group LLC now owns 8,491 shares of the company’s stock worth $1,033,000 after purchasing an additional 721 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PM. UBS Group upgraded 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 report on Friday, April 25th. Barclays reissued an “overweight” rating and issued a $220.00 price target (up previously from $205.00) on shares of Philip Morris International in a research note on Friday, June 13th. Argus upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Friday, March 14th. Needham & Company LLC began coverage on shares of Philip Morris International in a report on Thursday, May 22nd. They set a “buy” rating on the stock. Finally, Citigroup lifted their target price on shares of Philip Morris International from $163.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 16th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $176.80.

Philip Morris International Stock Down 2.5%

Philip Morris International stock opened at $179.79 on Thursday. The company has a fifty day simple moving average of $175.25 and a 200-day simple moving average of $152.07. The firm has a market capitalization of $279.85 billion, a price-to-earnings ratio of 37.07, a PEG ratio of 2.67 and a beta of 0.52. Philip Morris International Inc. has a 52-week low of $100.80 and a 52-week high of $186.69.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.08. The company had revenue of $9.30 billion during the quarter, compared to analysts’ expectations of $9.10 billion. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. Philip Morris International’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.50 EPS. On average, 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. 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 annualized dividend and a dividend yield of 3.00%. Philip Morris International’s payout ratio is 111.34%.

About Philip Morris International

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.