Philip Morris International Inc. (NYSE:PM) Shares Sold by Byrne Asset Management LLC

Byrne Asset Management LLC reduced its stake in Philip Morris International Inc. (NYSE:PM) by 46.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 950 shares of the company’s stock after selling 832 shares during the period. Byrne Asset Management LLC’s holdings in Philip Morris International were worth $151,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of equities analysts have commented on the company. Wall Street Zen downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. JPMorgan Chase & Co. boosted their price objective on Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Bank of America boosted their price objective on Philip Morris International from $182.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Morgan Stanley reiterated an “overweight” rating and set a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Finally, Stifel Nicolaus boosted their price objective on Philip Morris International from $168.00 to $186.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $176.80.

Philip Morris International Price Performance

PM opened at $184.01 on Friday. The company has a market capitalization of $286.41 billion, a price-to-earnings ratio of 40.80, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. Philip Morris International Inc. has a 1-year low of $98.93 and a 1-year high of $185.16. The business has a 50 day moving average price of $170.67 and a two-hundred day moving average price of $149.22.

Philip Morris International (NYSE:PM) last released its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.08. The firm had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.10 billion. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.50 earnings per share. Equities analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The business 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. This represents a $5.40 annualized dividend and a dividend yield of 2.93%. Philip Morris International’s dividend payout ratio is currently 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.