Adams Diversified Equity Fund Inc. Reduces Position in Philip Morris International Inc. (NYSE:PM)

Adams Diversified Equity Fund Inc. lessened its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 2.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 203,735 shares of the company's stock after selling 4,200 shares during the period. Philip Morris International accounts for about 1.3% of Adams Diversified Equity Fund Inc.'s portfolio, making the stock its 16th largest position. Adams Diversified Equity Fund Inc.'s holdings in Philip Morris International were worth $32,339,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of PM. NewSquare Capital LLC raised its position in shares of Philip Morris International by 53.7% during the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company's stock worth $25,000 after purchasing an additional 72 shares during the period. Pacifica Partners Inc. increased its stake in Philip Morris International by 115.0% during the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after purchasing an additional 115 shares in the last quarter. Knuff & Co LLC acquired a new position in Philip Morris International during the fourth quarter worth $36,000. Ball & Co Wealth Management Inc. acquired a new position in Philip Morris International during the fourth quarter worth $36,000. Finally, Ameriflex Group Inc. bought a new position in shares of Philip Morris International in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

PM has been the topic of several recent research reports. Stifel Nicolaus raised their price target on shares of Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Barclays reissued an "overweight" rating and issued a $220.00 price objective (up from $205.00) on shares of Philip Morris International in a research note on Friday, June 13th. Argus raised Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. Bank of America increased their price target on Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, UBS Group raised shares of Philip Morris International from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $130.00 to $170.00 in a report on Friday, April 25th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $176.80.

Philip Morris International Price Performance

Shares of NYSE PM traded up $1.86 during mid-day trading on Friday, reaching $181.17. 1,896,987 shares of the company's stock were exchanged, compared to its average volume of 6,061,836. The firm has a 50-day moving average price of $175.60 and a two-hundred day moving average price of $152.43. The firm has a market capitalization of $281.99 billion, a price-to-earnings ratio of 37.35, a price-to-earnings-growth ratio of 2.60 and a beta of 0.52. Philip Morris International Inc. has a 52 week low of $100.80 and a 52 week high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.61 by $0.08. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The business had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same quarter in the previous year, the firm posted $1.50 earnings per share. The company's revenue for the quarter was up 5.8% on a year-over-year basis. As a group, sell-side analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.98%. The ex-dividend date is Friday, June 27th. Philip Morris International's dividend payout ratio (DPR) is 111.34%.

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.