Courier Capital LLC Has $368,000 Stock Position in Philip Morris International Inc. (NYSE:PM)

Courier Capital LLC reduced its holdings in Philip Morris International Inc. (NYSE:PM) by 5.4% in the 1st quarter, HoldingsChannel reports. The fund owned 4,014 shares of the company’s stock after selling 231 shares during the period. Courier Capital LLC’s holdings in Philip Morris International were worth $368,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PM. Bank of Nova Scotia increased its position in Philip Morris International by 129.0% in the 3rd quarter. Bank of Nova Scotia now owns 309,292 shares of the company’s stock valued at $28,634,000 after acquiring an additional 174,224 shares during the period. Corton Capital Inc. bought a new stake in shares of Philip Morris International in the 3rd quarter valued at $430,000. Gotham Asset Management LLC boosted its stake in shares of Philip Morris International by 140.3% in the 3rd quarter. Gotham Asset Management LLC now owns 88,327 shares of the company’s stock valued at $8,177,000 after purchasing an additional 51,571 shares during the last quarter. Waverly Advisors LLC boosted its stake in shares of Philip Morris International by 7.5% in the 3rd quarter. Waverly Advisors LLC now owns 8,404 shares of the company’s stock valued at $778,000 after purchasing an additional 588 shares during the last quarter. Finally, United Services Automobile Association boosted its stake in shares of Philip Morris International by 1.8% in the 3rd quarter. United Services Automobile Association now owns 344,718 shares of the company’s stock valued at $31,914,000 after purchasing an additional 6,169 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on PM. Stifel Nicolaus upped their price objective on shares of Philip Morris International from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Argus reaffirmed a “hold” rating on shares of Philip Morris International in a research note on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Philip Morris International currently has an average rating of “Hold” and an average target price of $104.22.

Philip Morris International Trading Down 0.2 %

NYSE PM traded down $0.24 on Friday, hitting $101.33. 7,072,965 shares of the company were exchanged, compared to its average volume of 5,500,423. The company has a market cap of $157.52 billion, a PE ratio of 19.84, a PEG ratio of 2.09 and a beta of 0.57. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $104.90. The stock has a fifty day moving average of $99.72 and a 200-day moving average of $94.82.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.09. Philip Morris International had a net margin of 8.58% and a negative return on equity of 113.26%. The business had revenue of $8.79 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same period in the prior year, the firm earned $1.38 earnings per share. Philip Morris International’s revenue was up 8.6% on a year-over-year basis. On average, 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 disclosed a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Friday, June 21st will be issued a dividend of $1.30 per share. The ex-dividend date is Friday, June 21st. This represents a $5.20 annualized dividend and a yield of 5.13%. Philip Morris International’s payout ratio is 101.56%.

Insiders Place Their Bets

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $96.42, for a total transaction of $1,928,400.00. Following the transaction, the insider now owns 178,447 shares in the company, valued at $17,205,859.74. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate 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.