Colonial River Investments LLC Lowers Position in Philip Morris International Inc. (NYSE:PM)

Colonial River Investments LLC decreased its position in Philip Morris International Inc. (NYSE:PM) by 19.2% during the 1st quarter, Holdings Channel reports. The fund owned 13,645 shares of the company’s stock after selling 3,240 shares during the quarter. Philip Morris International comprises about 1.2% of Colonial River Investments LLC’s holdings, making the stock its 15th biggest position. Colonial River Investments LLC’s holdings in Philip Morris International were worth $2,166,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. GQG Partners LLC boosted its position in shares of Philip Morris International by 14.3% during the 4th quarter. GQG Partners LLC now owns 48,746,809 shares of the company’s stock worth $5,866,678,000 after purchasing an additional 6,092,558 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Philip Morris International by 19,986.5% during the 1st quarter. GAMMA Investing LLC now owns 4,486,928 shares of the company’s stock worth $712,210,000 after acquiring an additional 4,464,590 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Philip Morris International during the fourth quarter worth $522,214,000. Kovitz Investment Group Partners LLC boosted its position 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 in the last quarter. Finally, Capital World Investors boosted its position in Philip Morris International by 3.6% during the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company’s stock worth $14,752,926,000 after purchasing an additional 4,216,586 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Up 0.2%

PM stock opened at $181.11 on Friday. The stock’s fifty day simple moving average is $175.96 and its 200-day simple moving average is $152.79. Philip Morris International Inc. has a 52-week low of $100.80 and a 52-week high of $186.69. The stock has a market capitalization of $281.90 billion, a price-to-earnings ratio of 37.34, a price-to-earnings-growth ratio of 2.62 and a beta of 0.52.

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 the consensus estimate of $1.61 by $0.08. The firm had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.10 billion. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. 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 business posted $1.50 earnings per share. As a group, analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share 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 paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Friday, June 27th. Philip Morris International’s dividend payout ratio is currently 111.34%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Saturday, June 21st. Citigroup upped their price target on shares of Philip Morris International from $163.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 16th. Barclays restated an “overweight” rating and issued a $220.00 price objective (up from $205.00) on shares of Philip Morris International in a research report on Friday, June 13th. UBS Group upgraded Philip Morris International from a “sell” rating to a “neutral” rating and upped their price objective for the company from $130.00 to $170.00 in a research report on Friday, April 25th. Finally, Morgan Stanley restated an “overweight” rating and issued a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and an average price target of $176.80.

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.