Spinnaker Trust Sells 2,000 Shares of Philip Morris International Inc. (NYSE:PM)

by · The Markets Daily

Spinnaker Trust lessened its position in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 13.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,524 shares of the company’s stock after selling 2,000 shares during the quarter. Spinnaker Trust’s holdings in Philip Morris International were worth $1,988,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Perigon Wealth Management LLC boosted its position in shares of Philip Morris International by 0.4% in the first quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company’s stock valued at $2,236,000 after acquiring an additional 60 shares during the period. TBH Global Asset Management LLC increased its position in Philip Morris International by 0.9% during the first quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company’s stock worth $1,100,000 after acquiring an additional 61 shares during the period. Capital Advisors Wealth Management LLC raised its stake in Philip Morris International by 2.1% in the 1st quarter. Capital Advisors Wealth Management LLC now owns 3,005 shares of the company’s stock worth $477,000 after purchasing an additional 63 shares in the last quarter. Lloyd Advisory Services LLC. boosted its holdings in Philip Morris International by 3.3% in the 1st quarter. Lloyd Advisory Services LLC. now owns 2,032 shares of the company’s stock valued at $323,000 after purchasing an additional 64 shares during the period. Finally, Western Wealth Management LLC boosted its holdings in Philip Morris International by 1.5% in the 1st quarter. Western Wealth Management LLC now owns 4,446 shares of the company’s stock valued at $706,000 after purchasing an additional 64 shares during the period. 78.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PM has been the subject of a number of analyst reports. Needham & Company LLC initiated coverage on shares of Philip Morris International in a research report on Thursday, May 22nd. They issued a “buy” rating for the company. Argus upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. Bank of America lifted their price objective on Philip Morris International from $182.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. Stifel Nicolaus increased their target price on Philip Morris International from $168.00 to $186.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. Finally, Wall Street Zen upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Saturday, June 21st. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $176.80.

Read Our Latest Report on PM

Philip Morris International Stock Up 0.2%

Shares of PM stock opened at $181.11 on Monday. The business has a fifty day simple moving average of $175.96 and a 200 day simple moving average of $153.15. The company has a market cap of $281.90 billion, a P/E ratio of 37.34, a P/E/G ratio of 2.62 and a beta of 0.52. Philip Morris International Inc. has a twelve month low of $100.80 and a twelve month high of $186.69.

Philip Morris International (NYSE:PM – Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.61 by $0.08. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The firm had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter in the previous year, the firm earned $1.50 earnings per share. The business’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities research 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 announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be given a $1.35 dividend. The ex-dividend date is Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a yield of 2.98%. Philip Morris International’s dividend payout ratio is currently 111.34%.

Philip Morris International Profile

(Free Report)

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.

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