Bridges Investment Management Inc. Sells 5,352 Shares of Philip Morris International Inc. (NYSE:PM)

Bridges Investment Management Inc. decreased its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 7.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,882 shares of the company's stock after selling 5,352 shares during the period. Bridges Investment Management Inc.'s holdings in Philip Morris International were worth $10,299,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PM. 49 Wealth Management LLC boosted its holdings in shares of Philip Morris International by 79.0% in the 1st quarter. 49 Wealth Management LLC now owns 5,334 shares of the company's stock worth $847,000 after acquiring an additional 2,354 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Philip Morris International by 24.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock worth $69,695,000 after purchasing an additional 87,631 shares during the last quarter. Brighton Jones LLC increased its stake 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 valued at $1,027,000 after buying an additional 2,023 shares in the last quarter. Symmetry Investments LP bought a new position in shares of Philip Morris International in the fourth quarter valued at about $1,966,000. Finally, Worth Asset Management LLC acquired a new position in Philip Morris International during the 1st quarter worth about $2,223,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Performance

NYSE PM traded up $0.01 on Wednesday, reaching $177.73. The company had a trading volume of 3,820,558 shares, compared to its average volume of 5,628,587. The company's fifty day moving average is $177.53 and its 200-day moving average is $155.58. The firm has a market capitalization of $276.64 billion, a price-to-earnings ratio of 36.65, a price-to-earnings-growth ratio of 2.58 and a beta of 0.51. Philip Morris International Inc. has a 1-year low of $101.68 and a 1-year high of $186.69.

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

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Friday, June 27th. Philip Morris International's payout ratio is 111.34%.

Analyst Ratings Changes

A number of brokerages have weighed in on PM. Jefferies Financial Group began coverage on shares of Philip Morris International in a research note on Wednesday. They issued a "buy" rating and a $220.00 target price for the company. Needham & Company LLC began coverage on shares of Philip Morris International in a research report on Thursday, May 22nd. They issued a "buy" rating for the company. Citigroup increased their price objective on Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, April 16th. Argus upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $180.73.

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.