Clear Harbor Asset Management LLC Lowers Stake in Philip Morris International Inc. (NYSE:PM)

Clear Harbor Asset Management LLC reduced its position in Philip Morris International Inc. (NYSE:PM) by 8.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,683 shares of the company’s stock after selling 440 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Philip Morris International were worth $564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its holdings in Philip Morris International by 0.4% in the 3rd quarter. State Street Corp now owns 54,711,621 shares of the company’s stock worth $6,715,237,000 after buying an additional 224,840 shares during the period. Geode Capital Management LLC lifted its position in shares of Philip Morris International by 2.0% in the third quarter. Geode Capital Management LLC now owns 32,101,324 shares of the company’s stock valued at $3,886,818,000 after acquiring an additional 621,034 shares in the last quarter. FMR LLC boosted its stake in shares of Philip Morris International by 40.9% in the third quarter. FMR LLC now owns 23,168,446 shares of the company’s stock worth $2,812,649,000 after acquiring an additional 6,721,094 shares during the period. Franklin Resources Inc. grew its position in shares of Philip Morris International by 3.0% during the third quarter. Franklin Resources Inc. now owns 13,000,570 shares of the company’s stock worth $1,560,752,000 after purchasing an additional 376,406 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Philip Morris International by 4.7% during the 2nd quarter. Legal & General Group Plc now owns 10,430,837 shares of the company’s stock valued at $1,056,957,000 after purchasing an additional 469,806 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Stock Performance

NYSE PM opened at $123.78 on Wednesday. The business’s 50 day moving average price is $125.44 and its 200-day moving average price is $121.61. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $134.15. The company has a market cap of $192.46 billion, a P/E ratio of 19.65, a P/E/G ratio of 1.99 and a beta of 0.54.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. The business had revenue of $9.91 billion for the quarter, compared to analysts’ expectations of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.67 earnings per share. As a group, equities analysts predict that Philip Morris International Inc. will post 6.5 EPS for the current year.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, December 26th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $5.40 annualized dividend and a yield of 4.36%. Philip Morris International’s payout ratio is 85.71%.

Analyst Ratings Changes

Several research firms have weighed in on PM. Morgan Stanley assumed coverage on Philip Morris International in a research note on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price target for the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $145.00 target price (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Barclays dropped their price target on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Philip Morris International currently has an average rating of “Moderate Buy” and a consensus price target of $131.35.

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.