Quent Capital LLC Decreases Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Quent Capital LLC reduced its stake in shares of Philip Morris International Inc. (NYSE:PM) by 16.4% in the second quarter, HoldingsChannel reports. The firm owned 1,872 shares of the company’s stock after selling 366 shares during the period. Quent Capital LLC’s holdings in Philip Morris International were worth $190,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PM. GQG Partners LLC raised its stake in Philip Morris International by 5,006.0% in the first quarter. GQG Partners LLC now owns 5,958,391 shares of the company’s stock valued at $545,908,000 after buying an additional 5,841,696 shares during the last quarter. Capital Research Global Investors raised its stake in Philip Morris International by 9.1% in the fourth quarter. Capital Research Global Investors now owns 58,416,175 shares of the company’s stock valued at $5,495,794,000 after buying an additional 4,869,272 shares during the last quarter. Lone Pine Capital LLC purchased a new stake in Philip Morris International in the fourth quarter valued at about $282,785,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Philip Morris International by 25.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,439,154 shares of the company’s stock valued at $996,104,000 after buying an additional 2,123,311 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in Philip Morris International by 5,045.1% in the first quarter. Van ECK Associates Corp now owns 2,122,729 shares of the company’s stock valued at $194,484,000 after buying an additional 2,081,472 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Stock Up 0.6 %

Shares of NYSE PM traded up $0.63 during midday trading on Tuesday, hitting $114.19. The stock had a trading volume of 6,274,484 shares, compared to its average volume of 5,443,429. The company has a market capitalization of $177.51 billion, a PE ratio of 22.30, a P/E/G ratio of 2.35 and a beta of 0.58. The stock has a 50 day simple moving average of $105.11 and a 200-day simple moving average of $97.43. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $119.06.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.02. The business had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.60 earnings per share. As a group, analysts expect that Philip Morris International Inc. will post 6.41 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Investors of record on Friday, June 21st were given a dividend of $1.30 per share. The ex-dividend date was Friday, June 21st. This represents a $5.20 dividend on an annualized basis and a yield of 4.55%. Philip Morris International’s payout ratio is 101.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PM shares. Stifel Nicolaus increased their price target on Philip Morris International from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft increased their price objective on Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Bank of America raised their target price on Philip Morris International from $110.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. raised their target price on Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.80.

Insider Buying and Selling

In related news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the transaction, the insider now owns 158,447 shares in the company, valued at $17,906,095.47. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.13% of the stock is currently owned by company insiders.

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.