Philip Morris International Inc. $PM Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. lessened its stake in Philip Morris International Inc. (NYSE:PM) by 1.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 210,851 shares of the company’s stock after selling 3,639 shares during the quarter. Philip Morris International accounts for approximately 1.0% of First Horizon Advisors Inc.’s portfolio, making the stock its 22nd biggest position. First Horizon Advisors Inc.’s holdings in Philip Morris International were worth $38,403,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Cloud Capital Management LLC lifted its holdings in Philip Morris International by 137.4% during the 2nd quarter. Cloud Capital Management LLC now owns 1,935 shares of the company’s stock worth $352,000 after buying an additional 1,120 shares during the last quarter. Moors & Cabot Inc. grew its holdings in Philip Morris International by 21.7% during the second quarter. Moors & Cabot Inc. now owns 21,706 shares of the company’s stock worth $3,953,000 after acquiring an additional 3,876 shares during the period. Fourth Dimension Wealth LLC increased its stake in Philip Morris International by 16.3% in the 2nd quarter. Fourth Dimension Wealth LLC now owns 1,483 shares of the company’s stock valued at $270,000 after purchasing an additional 208 shares in the last quarter. Blue Barn Wealth LLC purchased a new position in Philip Morris International in the 2nd quarter valued at approximately $238,000. Finally, Crestwood Advisors Group LLC increased its stake in Philip Morris International by 3.6% in the 2nd quarter. Crestwood Advisors Group LLC now owns 19,279 shares of the company’s stock valued at $3,511,000 after purchasing an additional 666 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Stock Up 2.1%

Shares of NYSE PM opened at $147.64 on Wednesday. The company has a market capitalization of $229.82 billion, a PE ratio of 26.75, a P/E/G ratio of 2.09 and a beta of 0.43. The firm has a fifty day simple moving average of $159.21 and a 200 day simple moving average of $168.68. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. The firm had revenue of $8.12 billion for the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. As a group, equities analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were paid a dividend of $1.47 per share. The ex-dividend date was Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a yield of 4.0%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio (DPR) is 106.52%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. KGI Securities assumed coverage on Philip Morris International in a research note on Monday, August 4th. They set an “outperform” rating on the stock. Stifel Nicolaus set a $180.00 price objective on Philip Morris International in a report on Tuesday, October 21st. Jefferies Financial Group began coverage on Philip Morris International in a report on Wednesday, July 9th. They issued a “buy” rating and a $220.00 target price for the company. Finally, Morgan Stanley set a $175.00 price target on Philip Morris International and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and a consensus price target of $194.00.

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.