Envestnet Portfolio Solutions Inc. Sells 65,038 Shares of Philip Morris International Inc. (NYSE:PM)

Envestnet Portfolio Solutions Inc. reduced its stake in Philip Morris International Inc. (NYSE:PM) by 29.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,149 shares of the company’s stock after selling 65,038 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Philip Morris International were worth $25,103,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. NewSquare Capital LLC raised its holdings in shares of 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 in the last quarter. Pacifica Partners Inc. increased its position in 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 purchasing an additional 115 shares during the period. Knuff & Co LLC bought a new stake in shares of Philip Morris International in the 4th quarter valued at about $36,000. Ball & Co Wealth Management Inc. purchased a new stake in shares of Philip Morris International in the 4th quarter worth approximately $36,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Philip Morris International in the 4th quarter worth approximately $36,000. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Performance

Shares of PM stock opened at $182.44 on Thursday. Philip Morris International Inc. has a fifty-two week low of $98.93 and a fifty-two week high of $186.69. The firm has a market capitalization of $283.97 billion, a price-to-earnings ratio of 37.62, a PEG ratio of 2.66 and a beta of 0.52. The stock’s 50-day simple moving average is $172.62 and its 200-day simple moving average is $150.28.

Philip Morris International (NYSE:PM) last released its earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.08. The company had revenue of $9.30 billion during the quarter, compared to analysts’ expectations of $9.10 billion. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. During the same period last year, the business earned $1.50 EPS. Philip Morris International’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a yield of 2.96%. Philip Morris International’s dividend payout ratio is currently 111.34%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PM shares. Morgan Stanley reissued an “overweight” rating and set a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Barclays reiterated an “overweight” rating and issued a $220.00 price target (up from $205.00) on shares of Philip Morris International in a 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 stock from $130.00 to $170.00 in a research note on Friday, April 25th. Bank of America raised their price objective on Philip Morris International from $182.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. Finally, Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus target price 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.