Colonial River Investments LLC Trims Position in Philip Morris International Inc. (NYSE:PM)

Colonial River Investments LLC cut its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 19.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,645 shares of the company's stock after selling 3,240 shares during the period. Philip Morris International makes up 1.2% of Colonial River Investments LLC's holdings, making the stock its 15th biggest holding. Colonial River Investments LLC's holdings in Philip Morris International were worth $2,166,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in shares of Philip Morris International by 31.1% in the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock valued at $1,027,000 after acquiring an additional 2,023 shares during the period. Revolve Wealth Partners LLC increased its stake in Philip Morris International by 4.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company's stock worth $252,000 after buying an additional 91 shares during the period. NewEdge Wealth LLC increased its stake in Philip Morris International by 0.9% during the 4th quarter. NewEdge Wealth LLC now owns 59,709 shares of the company's stock worth $7,186,000 after buying an additional 559 shares during the period. Whipplewood Advisors LLC purchased a new stake in Philip Morris International during the 4th quarter worth approximately $270,000. Finally, Kovack Advisors Inc. increased its stake in Philip Morris International by 15.1% during the 4th quarter. Kovack Advisors Inc. now owns 8,074 shares of the company's stock worth $972,000 after buying an additional 1,061 shares during the period. Hedge funds and other institutional investors own 78.63% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PM shares. Stifel Nicolaus upped their price objective on Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Argus upgraded Philip Morris International from a "hold" rating to a "buy" rating in a report on Friday, March 14th. Wall Street Zen upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. UBS Group upgraded shares of 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 note on Friday, April 25th. Finally, Bank of America increased their price objective on shares of Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $176.80.

Philip Morris International Stock Performance

Shares of PM stock opened at $181.11 on Friday. The stock's 50-day moving average is $175.96 and its two-hundred day moving average is $152.79. The firm has a market cap of $281.90 billion, a price-to-earnings ratio of 37.34, a PEG ratio of 2.62 and a beta of 0.52. Philip Morris International Inc. has a 1 year low of $100.80 and a 1 year high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly 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. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The firm's revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.50 earnings per share. As a group, research analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The business also recently declared 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. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International's dividend payout ratio is currently 111.34%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.