Davidson Investment Advisors Sells 2,161 Shares of Philip Morris International Inc. $PM

Key Points

• Davidson Investment Advisors reduced its stake in Philip Morris International by 2.2%, selling 2,161 shares, and now holds 96,597 shares valued at approximately $17.6 million.
• Philip Morris International recently declared a quarterly dividend of $1.47 per share, an increase from the previous $1.35, representing a yield of 3.7%.
• The company reported earnings of $1.59 EPS with revenue of $8.12 billion during its last quarterly earnings, alongside a negative return on equity of 120.86%.

Davidson Investment Advisors trimmed its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 2.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 96,597 shares of the company's stock after selling 2,161 shares during the period. Davidson Investment Advisors' holdings in Philip Morris International were worth $17,593,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Abound Wealth Management grew its holdings in Philip Morris International by 566.7% during the second quarter. Abound Wealth Management now owns 160 shares of the company's stock valued at $29,000 after purchasing an additional 136 shares during the period. Kelly Lawrence W & Associates Inc. CA bought a new position in Philip Morris International during the first quarter valued at $30,000. CBIZ Investment Advisory Services LLC grew its holdings in Philip Morris International by 405.0% during the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company's stock valued at $32,000 after purchasing an additional 162 shares during the period. Clal Insurance Enterprises Holdings Ltd bought a new position in Philip Morris International during the first quarter valued at $34,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of Philip Morris International in the first quarter worth $35,000. 78.63% of the stock is owned by institutional investors.

Philip Morris International Stock Performance

NYSE:PM opened at $157.88 on Thursday. The firm has a market capitalization of $245.75 billion, a price-to-earnings ratio of 30.02, a P/E/G ratio of 2.32 and a beta of 0.46. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69. The stock has a fifty day moving average of $163.89 and a 200 day moving average of $168.75.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. The company had revenue of $8.12 billion during the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. Equities analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be given a dividend of $1.47 per share. The ex-dividend date is Friday, October 3rd. This is a positive change from Philip Morris International's previous quarterly dividend of $1.35. This represents a $5.88 dividend on an annualized basis and a yield of 3.7%. Philip Morris International's dividend payout ratio (DPR) is 111.79%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Citigroup reaffirmed a "buy" rating on shares of Philip Morris International in a report on Thursday, September 4th. Needham & Company LLC reaffirmed a "buy" rating and issued a $195.00 price target on shares of Philip Morris International in a report on Wednesday, July 23rd. Barclays cut their price target on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Wall Street Zen lowered Philip Morris International from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, UBS Group cut their price target on Philip Morris International from $177.00 to $166.00 and set a "neutral" rating for the company in a report on Friday, September 5th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $195.44.

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.

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