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

Bridges Investment Management Inc. cut its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 7.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 64,882 shares of the company's stock after selling 5,352 shares during the quarter. Bridges Investment Management Inc.'s holdings in Philip Morris International were worth $10,299,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PM. Slagle Financial LLC boosted its position in Philip Morris International by 0.7% in the first quarter. Slagle Financial LLC now owns 32,685 shares of the company's stock valued at $5,188,000 after buying an additional 227 shares during the last quarter. Cornerstone Planning Group LLC grew its holdings in shares of Philip Morris International by 97.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 1,146 shares of the company's stock worth $193,000 after purchasing an additional 565 shares during the period. Greenleaf Trust increased its position in shares of Philip Morris International by 4.9% during the 1st quarter. Greenleaf Trust now owns 35,116 shares of the company's stock worth $5,574,000 after purchasing an additional 1,645 shares during the last quarter. Valeo Financial Advisors LLC boosted its holdings in Philip Morris International by 2.3% during the 1st quarter. Valeo Financial Advisors LLC now owns 41,125 shares of the company's stock valued at $6,528,000 after acquiring an additional 935 shares during the period. Finally, 49 Wealth Management LLC boosted its holdings in Philip Morris International by 79.0% during the 1st quarter. 49 Wealth Management LLC now owns 5,334 shares of the company's stock valued at $847,000 after acquiring an additional 2,354 shares during the period. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Down 0.7%

Shares of PM traded down $1.26 during mid-day trading on Friday, reaching $179.73. The company's stock had a trading volume of 3,430,602 shares, compared to its average volume of 5,634,992. The business has a fifty day moving average of $177.87 and a 200 day moving average of $156.13. The company has a market cap of $279.75 billion, a price-to-earnings ratio of 37.06, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. Philip Morris International Inc. has a 1 year low of $104.84 and a 1 year 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.08. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The business had revenue of $9.30 billion during the quarter, compared to analyst estimates of $9.10 billion. During the same period last year, the company earned $1.50 earnings per share. Philip Morris International's quarterly revenue was up 5.8% compared to the same quarter last year. On average, analysts predict 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $5.40 annualized dividend and a dividend yield of 3.00%. Philip Morris International's dividend payout ratio is 111.34%.

Analyst Ratings Changes

PM has been the topic of several research analyst reports. Needham & Company LLC started coverage on Philip Morris International in a research report on Thursday, May 22nd. They set a "buy" rating on the stock. Barclays boosted their target price on Philip Morris International from $220.00 to $225.00 and gave the stock an "overweight" rating in a research report on Thursday. Wall Street Zen raised Philip Morris International from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Stifel Nicolaus boosted their price target on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Finally, UBS Group raised Philip Morris International from a "sell" rating to a "neutral" rating and upped their target price for the stock from $130.00 to $170.00 in a research report on Friday, April 25th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, Philip Morris International has a consensus rating of "Moderate Buy" and an average price target of $185.73.

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.