Carret Asset Management LLC Sells 200 Shares of Philip Morris International Inc. (NYSE:PM)

Carret Asset Management LLC decreased its holdings in shares of Philip Morris International Inc. (NYSE:PMGet Rating) by 5.1% in the 1st quarter, Holdings Channel reports. The fund owned 3,710 shares of the company’s stock after selling 200 shares during the period. Carret Asset Management LLC’s holdings in Philip Morris International were worth $349,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Rockbridge Investment Management LCC increased its holdings in Philip Morris International by 3.5% in the 4th quarter. Rockbridge Investment Management LCC now owns 2,835 shares of the company’s stock worth $269,000 after acquiring an additional 95 shares during the last quarter. WP Advisors LLC boosted its stake in Philip Morris International by 1.2% in the 4th quarter. WP Advisors LLC now owns 8,139 shares of the company’s stock worth $773,000 after purchasing an additional 97 shares during the period. Successful Portfolios LLC boosted its stake in Philip Morris International by 2.9% in the 4th quarter. Successful Portfolios LLC now owns 3,500 shares of the company’s stock worth $333,000 after purchasing an additional 100 shares during the period. Schmidt P J Investment Management Inc. boosted its stake in Philip Morris International by 1.4% in the 4th quarter. Schmidt P J Investment Management Inc. now owns 7,094 shares of the company’s stock worth $730,000 after purchasing an additional 100 shares during the period. Finally, Concorde Asset Management LLC boosted its stake in Philip Morris International by 3.4% in the 4th quarter. Concorde Asset Management LLC now owns 3,197 shares of the company’s stock worth $320,000 after purchasing an additional 104 shares during the period. 74.78% of the stock is owned by hedge funds and other institutional investors.

Shares of PM opened at $99.18 on Thursday. The company has a market cap of $153.74 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 3.53 and a beta of 0.66. Philip Morris International Inc. has a 12-month low of $85.64 and a 12-month high of $112.48. The stock has a 50-day moving average price of $102.55 and a 200-day moving average price of $99.87.

Philip Morris International (NYSE:PMGet Rating) last announced its quarterly earnings data on Thursday, April 21st. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.08. The company had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.43 billion. Philip Morris International had a negative return on equity of 110.49% and a net margin of 10.97%. Philip Morris International’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $1.57 EPS. On average, equities research analysts expect that Philip Morris International Inc. will post 5.53 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Friday, July 1st will be issued a dividend of $1.25 per share. The ex-dividend date is Thursday, June 30th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 5.04%. Philip Morris International’s dividend payout ratio is 86.51%.

Several brokerages have commented on PM. StockNews.com downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research note on Saturday, June 18th. Stifel Nicolaus cut their target price on Philip Morris International from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, March 25th. JPMorgan Chase & Co. downgraded Philip Morris International from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $130.00 to $110.00 in a research note on Monday, March 7th. Barclays dropped their price target on Philip Morris International from $125.00 to $120.00 in a research report on Friday, February 25th. Finally, Morgan Stanley lifted their price target on Philip Morris International from $104.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, April 22nd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Philip Morris International presently has a consensus rating of “Moderate Buy” and an average price target of $111.75.

About Philip Morris International (Get Rating)

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 that are sold in markets outside the United States.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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