Alps Advisors Inc. Sells 31,912 Shares of Philip Morris International Inc. (NYSE:PM)

Alps Advisors Inc. lowered its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 13.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 200,786 shares of the company's stock after selling 31,912 shares during the period. Alps Advisors Inc.'s holdings in Philip Morris International were worth $31,871,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in shares of Philip Morris International by 31.1% in the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock worth $1,027,000 after buying an additional 2,023 shares during the period. Revolve Wealth Partners LLC lifted its position in shares of Philip Morris International by 4.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company's stock valued at $252,000 after acquiring an additional 91 shares in the last quarter. Proficio Capital Partners LLC lifted its position in shares of Philip Morris International by 60.4% in the 4th quarter. Proficio Capital Partners LLC now owns 3,863 shares of the company's stock valued at $465,000 after acquiring an additional 1,455 shares in the last quarter. Amundi boosted its stake in Philip Morris International by 1.3% in the 4th quarter. Amundi now owns 613,683 shares of the company's stock worth $74,783,000 after purchasing an additional 7,893 shares during the period. Finally, Davis R M Inc. grew its position in Philip Morris International by 19.4% during the 4th quarter. Davis R M Inc. now owns 6,575 shares of the company's stock worth $791,000 after purchasing an additional 1,068 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PM. Bank of America raised their target price on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Morgan Stanley reissued an "overweight" rating and issued a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. JPMorgan Chase & Co. lifted 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. Wall Street Zen downgraded Philip Morris International from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Citigroup raised their price target on shares of Philip Morris International from $188.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $185.73.

Philip Morris International Stock Down 0.7%

Shares of PM traded down $1.26 during mid-day trading on Friday, hitting $179.73. 3,430,602 shares of the company's stock were exchanged, compared to its average volume of 5,643,398. The stock has a market cap of $279.75 billion, a price-to-earnings ratio of 37.06, a P/E/G ratio of 2.60 and a beta of 0.51. The firm has a fifty day moving average of $178.05 and a two-hundred day moving average of $157.00. Philip Morris International Inc. has a twelve month low of $104.84 and a twelve month high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last posted its earnings results 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 firm had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same period in the prior year, the business posted $1.50 earnings per share. The business's quarterly revenue was up 5.8% on a year-over-year basis. On average, equities analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be issued a $1.35 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $5.40 annualized dividend and a yield of 3.00%. Philip Morris International's dividend payout ratio (DPR) is currently 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.