Davidson Investment Advisors Sells 62,958 Shares of Philip Morris International Inc. (NYSE:PM)

Davidson Investment Advisors lessened its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 38.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,758 shares of the company's stock after selling 62,958 shares during the quarter. Davidson Investment Advisors' holdings in Philip Morris International were worth $15,676,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pacifica Partners Inc. raised its holdings in shares of Philip Morris International by 115.0% in the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock worth $35,000 after acquiring an additional 115 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new stake in shares of Philip Morris International in the 1st quarter worth about $35,000. Knuff & Co LLC purchased a new stake in Philip Morris International in the 4th quarter valued at about $36,000. Ball & Co Wealth Management Inc. purchased a new stake in Philip Morris International in the 4th quarter valued at about $36,000. Finally, Ameriflex Group Inc. purchased a new stake in Philip Morris International in the 4th quarter valued at about $36,000. Institutional investors own 78.63% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PM shares. Barclays reiterated an "overweight" rating and issued a $220.00 price objective (up previously from $205.00) on shares of Philip Morris International in a research note on Friday, June 13th. Stifel Nicolaus increased their price objective on shares of Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Needham & Company LLC started coverage on shares of Philip Morris International in a research note on Thursday, May 22nd. They issued a "buy" rating for the company. Argus upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. Finally, 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. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $180.73.

Philip Morris International Price Performance

Shares of Philip Morris International stock traded up $0.01 on Wednesday, reaching $177.73. 3,820,558 shares of the company traded hands, compared to its average volume of 5,628,588. Philip Morris International Inc. has a 52 week low of $101.68 and a 52 week high of $186.69. The company has a 50 day moving average of $177.65 and a 200 day moving average of $155.73. The firm has a market capitalization of $276.64 billion, a PE ratio of 36.65, a PEG ratio of 2.58 and a beta of 0.51.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $9.10 billion. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. Philip Morris International's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $1.50 EPS. As a group, analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The firm 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 $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International's dividend payout ratio (DPR) is presently 111.34%.

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.