Secure Asset Management LLC Decreases Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Secure Asset Management LLC reduced its stake in shares of Philip Morris International Inc. (NYSE:PM) by 9.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,179 shares of the company’s stock after selling 1,513 shares during the period. Secure Asset Management LLC’s holdings in Philip Morris International were worth $2,409,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. NewSquare Capital LLC grew its holdings in Philip Morris International by 53.7% in the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock valued at $25,000 after buying an additional 72 shares in the last quarter. Pacifica Partners Inc. boosted its position in shares of Philip Morris International by 115.0% during the 1st 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 last quarter. Ameriflex Group Inc. purchased a new stake in shares of Philip Morris International in the fourth quarter valued at about $36,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Philip Morris International in the fourth quarter valued at about $33,000. Finally, Knuff & Co LLC acquired a new stake in Philip Morris International during the fourth quarter worth about $36,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Trading Down 0.2%

Shares of NYSE PM opened at $182.42 on Wednesday. The stock has a market capitalization of $283.94 billion, a PE ratio of 40.45, a PEG ratio of 2.65 and a beta of 0.52. Philip Morris International Inc. has a twelve month low of $98.93 and a twelve month high of $183.94. The stock has a fifty day simple moving average of $166.38 and a 200-day simple moving average of $146.52.

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, beating the consensus estimate of $1.61 by $0.08. The company 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%. Philip Morris International’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.50 EPS. On average, equities analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 20th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend was Thursday, March 20th. Philip Morris International’s payout ratio is currently 111.34%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Argus upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, March 14th. Needham & Company LLC assumed coverage on Philip Morris International in a report on Thursday, May 22nd. They issued a “buy” rating on the stock. Citigroup raised their target price on Philip Morris International from $163.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 16th. UBS Group upgraded Philip Morris International from a “sell” rating to a “neutral” rating and lifted their target price for the company from $130.00 to $170.00 in a research report on Friday, April 25th. Finally, Barclays increased their price target on Philip Morris International from $175.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average target price of $169.20.

Insiders Place Their Bets

In other Philip Morris International news, insider Lars Dahlgren sold 3,679 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $152.96, for a total transaction of $562,739.84. Following the sale, the insider now owns 26,828 shares in the company, valued at $4,103,610.88. This represents a 12.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is owned by company insiders.

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.