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

Davidson Investment Advisors cut its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 38.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Philip Morris International by 24.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock valued at $69,695,000 after buying an additional 87,631 shares in the last quarter. Brighton Jones LLC boosted its stake in Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock worth $1,027,000 after acquiring an additional 2,023 shares in the last quarter. Symmetry Investments LP bought a new stake in Philip Morris International during the fourth quarter worth about $1,966,000. Worth Asset Management LLC bought a new stake in Philip Morris International during the first quarter worth about $2,223,000. Finally, Annex Advisory Services LLC boosted its position in shares of Philip Morris International by 46.6% in the 1st quarter. Annex Advisory Services LLC now owns 34,715 shares of the company's stock worth $5,510,000 after purchasing an additional 11,034 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Up 1.6%

PM traded up $2.87 during midday trading on Thursday, hitting $180.85. 5,208,523 shares of the company traded hands, compared to its average volume of 5,626,928. The firm has a market capitalization of $281.50 billion, a PE ratio of 37.29, a price-to-earnings-growth ratio of 2.58 and a beta of 0.51. The company's 50-day moving average is $177.65 and its 200 day moving average is $155.73. Philip Morris International Inc. has a 52 week low of $101.68 and a 52 week high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates of $1.61 by $0.08. The company had revenue of $9.30 billion for 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%. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.50 earnings per share. On average, sell-side analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International's dividend payout ratio is 111.34%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PM. Bank of America boosted their price target on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Morgan Stanley reissued an "overweight" rating and issued a $182.00 target price (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. JPMorgan Chase & Co. boosted their target price on Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a report on Thursday. Stifel Nicolaus upped their price target on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Finally, Barclays upped their price target on shares of Philip Morris International from $220.00 to $225.00 and gave the stock an "overweight" rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Philip Morris International currently has an average rating of "Moderate Buy" and an average target price of $185.73.

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.