Blue Edge Capital LLC Cuts Stake in Philip Morris International Inc. (NYSE:PM)

Blue Edge Capital LLC reduced its stake in Philip Morris International Inc. (NYSE:PM) by 3.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,096 shares of the company’s stock after selling 113 shares during the period. Blue Edge Capital LLC’s holdings in Philip Morris International were worth $275,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sterling Financial Planning Inc. purchased a new stake in shares of Philip Morris International in the fourth quarter worth $26,000. Better Money Decisions LLC purchased a new stake in shares of Philip Morris International in the first quarter worth $26,000. Lumature Wealth Partners LLC purchased a new stake in shares of Philip Morris International in the first quarter worth $26,000. Perennial Advisors LLC purchased a new stake in shares of Philip Morris International in the fourth quarter worth $27,000. Finally, Grant Street Asset Management Inc. purchased a new stake in shares of Philip Morris International during the fourth quarter valued at $27,000. 74.83% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently commented on the company. Piper Sandler increased their price objective on Philip Morris International from $111.00 to $114.00 and gave the company an “overweight” rating in a research report on Friday. Barclays increased their price objective on Philip Morris International from $103.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, April 22nd. Zacks Investment Research cut Philip Morris International from a “buy” rating to a “hold” rating and set a $99.00 price objective on the stock. in a research report on Tuesday, April 27th. Morgan Stanley increased their price objective on Philip Morris International from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, May 6th. Finally, JPMorgan Chase & Co. raised Philip Morris International from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $81.00 to $105.00 in a research report on Friday, April 9th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Philip Morris International has an average rating of “Buy” and a consensus target price of $100.92.

In other news, CEO Martin G. King sold 21,066 shares of the firm’s stock in a transaction dated Tuesday, April 27th. The stock was sold at an average price of $94.51, for a total value of $1,990,947.66. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Stacey Kennedy sold 10,570 shares of Philip Morris International stock in a transaction that occurred on Wednesday, April 21st. The shares were sold at an average price of $94.28, for a total value of $996,539.60. The disclosure for this sale can be found here. Insiders sold 43,370 shares of company stock worth $4,135,557 in the last ninety days. Corporate insiders own 0.21% of the company’s stock.

NYSE:PM traded up $0.51 on Friday, hitting $98.06. The stock had a trading volume of 13,365 shares, compared to its average volume of 4,534,993. The stock has a market cap of $152.83 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 1.86 and a beta of 0.82. The business has a 50-day moving average price of $94.95. Philip Morris International Inc. has a 52-week low of $68.37 and a 52-week high of $98.95.

Philip Morris International (NYSE:PM) last announced its earnings results on Monday, April 19th. The company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.17. Philip Morris International had a negative return on equity of 85.06% and a net margin of 11.20%. The business had revenue of $7.59 billion for the quarter, compared to analysts’ expectations of $7.33 billion. During the same period last year, the firm posted $1.21 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities analysts forecast that Philip Morris International Inc. will post 6.08 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 12th. Stockholders of record on Friday, June 25th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend is Thursday, June 24th. Philip Morris International’s dividend payout ratio (DPR) is currently 92.84%.

Philip Morris International Company Profile

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, smoke-free products, and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Creations, HEETS Dimensions, HEETS Marlboro, HEETS FROM MARLBORO, Marlboro Dimensions, Marlboro HeatSticks, and Parliament HeatSticks brands, as well as under the Fiit and Miix licensed brands.

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

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