First Long Island Investors LLC Decreases Stock Holdings in Philip Morris International Inc. (NYSE:PM)

First Long Island Investors LLC decreased its position in Philip Morris International Inc. (NYSE:PM) by 2.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 224,764 shares of the company’s stock after selling 5,400 shares during the quarter. Philip Morris International makes up 1.7% of First Long Island Investors LLC’s investment portfolio, making the stock its 23rd largest position. First Long Island Investors LLC’s holdings in Philip Morris International were worth $20,593,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. GSA Capital Partners LLP grew its holdings in Philip Morris International by 2.0% in the third quarter. GSA Capital Partners LLP now owns 7,617 shares of the company’s stock worth $705,000 after purchasing an additional 146 shares during the period. Creative Planning lifted its stake in shares of Philip Morris International by 7.1% in the third quarter. Creative Planning now owns 290,116 shares of the company’s stock worth $26,859,000 after buying an additional 19,134 shares in the last quarter. OLD National Bancorp IN lifted its stake in shares of Philip Morris International by 1.9% in the third quarter. OLD National Bancorp IN now owns 100,305 shares of the company’s stock worth $9,286,000 after buying an additional 1,870 shares in the last quarter. Tompkins Financial Corp lifted its stake in shares of Philip Morris International by 4.0% in the third quarter. Tompkins Financial Corp now owns 7,160 shares of the company’s stock worth $663,000 after buying an additional 275 shares in the last quarter. Finally, Comerica Bank bought a new position in shares of Philip Morris International in the third quarter worth approximately $43,276,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus upped their target price on shares of Philip Morris International from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Philip Morris International presently has an average rating of “Hold” and a consensus target price of $104.22.

Philip Morris International Stock Up 2.2 %

PM traded up $2.24 on Thursday, reaching $105.00. 3,739,370 shares of the company traded hands, compared to its average volume of 5,392,619. Philip Morris International Inc. has a one year low of $87.23 and a one year high of $105.00. The firm has a fifty day simple moving average of $101.16 and a two-hundred day simple moving average of $95.45. The company has a market cap of $163.23 billion, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $8.79 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same quarter last year, the business posted $1.38 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities analysts forecast that Philip Morris International Inc. will post 6.32 earnings per share for the current year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Friday, June 21st were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date of this dividend was Friday, June 21st. Philip Morris International’s dividend payout ratio (DPR) is 101.56%.

Insider Buying and Selling at Philip Morris International

In other news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $96.42, for a total value of $1,928,400.00. Following the transaction, the insider now owns 178,447 shares of the company’s stock, valued at approximately $17,205,859.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.14% of the company’s stock.

Philip Morris International 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.