International Assets Investment Management LLC Sells 1,172 Shares of Philip Morris International Inc. (NYSE:PM)

International Assets Investment Management LLC lowered its position in Philip Morris International Inc. (NYSE:PM) by 16.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,974 shares of the company’s stock after selling 1,172 shares during the period. International Assets Investment Management LLC’s holdings in Philip Morris International were worth $546,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Tennessee Valley Asset Management Partners bought a new position in Philip Morris International during the 4th quarter valued at approximately $33,000. Northwest Financial Advisors bought a new stake in shares of Philip Morris International in the 4th quarter worth $33,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Philip Morris International in the 4th quarter worth $38,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Philip Morris International in the 4th quarter worth $39,000. Finally, Quarry LP increased its holdings in shares of Philip Morris International by 307.5% in the 4th quarter. Quarry LP now owns 436 shares of the company’s stock worth $41,000 after purchasing an additional 329 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Argus reissued a “hold” rating on shares of Philip Morris International in a report on Tuesday, March 5th. Stifel Nicolaus lifted their target price on Philip Morris International from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $104.22.

Philip Morris International Price Performance

PM stock opened at $99.92 on Monday. The company has a market cap of $155.33 billion, a P/E ratio of 19.52, a price-to-earnings-growth ratio of 2.08 and a beta of 0.57. The stock’s fifty day moving average price is $98.98 and its 200-day moving average price is $94.62. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $104.90.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.09. The company had revenue of $8.79 billion for the quarter, compared to the consensus estimate of $8.44 billion. Philip Morris International had a negative return on equity of 113.26% and a net margin of 8.58%. Philip Morris International’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.38 earnings per share. As a group, analysts expect that Philip Morris International Inc. will post 6.32 earnings per share for the current year.

Philip Morris International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Friday, June 21st will be paid a $1.30 dividend. The ex-dividend date of this dividend is Friday, June 21st. This represents a $5.20 annualized dividend and a yield of 5.20%. Philip Morris International’s payout ratio is 101.56%.

Insider Activity

In other news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $96.42, for a total value of $1,928,400.00. Following the sale, the insider now directly owns 178,447 shares of the company’s stock, valued at $17,205,859.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.13% of the company’s stock.

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.