Cornerstone Wealth Group LLC Cuts Position in Philip Morris International Inc. (NYSE:PM)

Cornerstone Wealth Group LLC lowered its stake in shares of Philip Morris International Inc. (NYSE:PM) by 17.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,438 shares of the company’s stock after selling 6,698 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Philip Morris International were worth $5,149,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Philip Morris International by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 139,432,392 shares of the company’s stock valued at $16,780,688,000 after buying an additional 1,167,810 shares during the last quarter. Capital World Investors lifted its position in Philip Morris International by 3.6% in the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company’s stock valued at $14,752,926,000 after purchasing an additional 4,216,586 shares during the period. GQG Partners LLC boosted its position in Philip Morris International by 14.3% during the fourth 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. Geode Capital Management LLC boosted its position in Philip Morris International by 9.9% during the fourth quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company’s stock worth $4,241,837,000 after purchasing an additional 3,185,258 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Philip Morris International by 3.1% in the fourth quarter. Wellington Management Group LLP now owns 17,276,790 shares of the company’s stock valued at $2,079,262,000 after acquiring an additional 516,617 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PM shares. Bank of America upped their price target on Philip Morris International from $182.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Citigroup increased their target price on Philip Morris International from $163.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 16th. UBS Group raised Philip Morris International from a “sell” rating to a “neutral” rating and raised their price target for the stock from $130.00 to $170.00 in a report on Friday, April 25th. Morgan Stanley reaffirmed an “overweight” rating and set a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Finally, Barclays reaffirmed an “overweight” rating and set a $220.00 target price (up previously from $205.00) on shares of Philip Morris International in a research note on Friday, June 13th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $176.80.

Philip Morris International Trading Up 1.0%

PM opened at $185.18 on Tuesday. The stock has a market cap of $288.24 billion, a price-to-earnings ratio of 38.18, a PEG ratio of 2.66 and a beta of 0.52. Philip Morris International Inc. has a 1 year low of $99.86 and a 1 year high of $186.69. The stock has a fifty day moving average price of $174.37 and a 200 day moving average price of $151.65.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $9.10 billion. During the same quarter last year, the firm earned $1.50 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, sell-side analysts forecast 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $5.40 annualized dividend and a dividend yield of 2.92%. Philip Morris International’s dividend payout ratio is currently 111.34%.

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.