Philip Morris International Inc. (NYSE:PM) Shares Sold by 1834 Investment Advisors Co.

Key Points

• 1834 Investment Advisors Co. reduced its stake in Philip Morris International by 13.0%, selling 2,497 shares and holding 16,659 shares valued at approximately $2.64 million.
• Several institutional investors, including Pacifica Partners Inc. and Redmont Wealth Advisors, have recently increased their positions, showing a strong interest as 78.63% of the company's stock is now owned by institutional investors.
• Analysts have updated their ratings, with UBS Group raising the price objective from $170 to $181, indicating a consensus rating of "Moderate Buy" and a target price of $186.27.

1834 Investment Advisors Co. decreased its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 13.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,659 shares of the company's stock after selling 2,497 shares during the quarter. 1834 Investment Advisors Co.'s holdings in Philip Morris International were worth $2,644,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Perigon Wealth Management LLC lifted its stake in Philip Morris International by 0.4% in the 1st quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company's stock valued at $2,236,000 after buying an additional 60 shares in the last quarter. TBH Global Asset Management LLC lifted its stake in Philip Morris International by 0.9% in the 1st quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company's stock valued at $1,100,000 after buying an additional 61 shares in the last quarter. Capital Advisors Wealth Management LLC lifted its stake in Philip Morris International by 2.1% in the 1st quarter. Capital Advisors Wealth Management LLC now owns 3,005 shares of the company's stock valued at $477,000 after buying an additional 63 shares in the last quarter. Renasant Bank lifted its stake in Philip Morris International by 3.3% in the 1st quarter. Renasant Bank now owns 1,994 shares of the company's stock valued at $317,000 after buying an additional 63 shares in the last quarter. Finally, Lloyd Advisory Services LLC. lifted its stake in Philip Morris International by 3.3% in the 1st quarter. Lloyd Advisory Services LLC. now owns 2,032 shares of the company's stock valued at $323,000 after buying an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wall Street Zen lowered Philip Morris International from a "buy" rating to a "hold" rating in a research note on Saturday. KGI Securities assumed coverage on Philip Morris International in a research note on Monday, August 4th. They issued an "outperform" rating on the stock. Barclays reduced their target price on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. JPMorgan Chase & Co. upped their target price on Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Bank of America upped their target price on Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $186.27.

Philip Morris International Stock Up 1.2%

Shares of PM stock traded up $2.06 on Friday, reaching $170.23. 3,774,105 shares of the stock were exchanged, compared to its average volume of 7,011,663. The stock has a market cap of $264.98 billion, a P/E ratio of 32.36, a price-to-earnings-growth ratio of 2.45 and a beta of 0.48. The firm has a 50 day moving average of $176.29 and a two-hundred day moving average of $163.16. Philip Morris International Inc. has a 1-year low of $115.62 and a 1-year high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.86 by $0.05. The business had revenue of $10.14 billion during the quarter, compared to the consensus estimate of $10.33 billion. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. The business's revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.59 EPS. On average, equities research analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, June 27th. Philip Morris International's dividend payout ratio is currently 102.66%.

About Philip Morris International

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.