Financial Advisors Network Inc. Sells 2,006 Shares of Philip Morris International Inc. $PM

Key Points

• Financial Advisors Network Inc. reduced its stake in Philip Morris International by 33.3%, selling 2,006 shares to end the quarter with a total of 4,017 shares valued at approximately $638,000.
• Several hedge funds have increased their investments in Philip Morris International, with Nuveen LLC acquiring a stake worth around $1.71 billion and Wellington Management Group LLP boosting its holdings by 26.4%.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for Philip Morris International, with an average price target of $186.27, following recent price adjustments from several firms.

Financial Advisors Network Inc. cut its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 33.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,017 shares of the company's stock after selling 2,006 shares during the quarter. Financial Advisors Network Inc.'s holdings in Philip Morris International were worth $638,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Nuveen LLC acquired a new stake in Philip Morris International during the 1st quarter worth approximately $1,712,994,000. Wellington Management Group LLP raised its holdings in Philip Morris International by 26.4% in the 1st quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company's stock valued at $3,466,730,000 after acquiring an additional 4,563,632 shares in the last quarter. GAMMA Investing LLC raised its holdings in Philip Morris International by 19,986.5% in the 1st quarter. GAMMA Investing LLC now owns 4,486,928 shares of the company's stock valued at $712,210,000 after acquiring an additional 4,464,590 shares in the last quarter. Kovitz Investment Group Partners LLC raised its holdings in Philip Morris International by 372.2% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 5,453,285 shares of the company's stock valued at $656,303,000 after acquiring an additional 4,298,530 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Philip Morris International by 57.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company's stock valued at $1,554,686,000 after acquiring an additional 3,575,158 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PM shares. JPMorgan Chase & Co. lifted their price objective on Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Barclays dropped their price objective 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. KGI Securities started coverage on Philip Morris International in a report on Monday, August 4th. They issued an "outperform" rating for the company. Citigroup reaffirmed an "overweight" rating on shares of Philip Morris International in a report on Tuesday, July 22nd. Finally, Jefferies Financial Group started coverage on Philip Morris International in a research note on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $186.27.

Philip Morris International Stock Performance

NYSE:PM opened at $166.19 on Monday. 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 $174.84 and a 200 day moving average of $165.04. The firm has a market capitalization of $258.69 billion, a price-to-earnings ratio of 31.60, a P/E/G ratio of 2.42 and a beta of 0.48.

Philip Morris International (NYSE:PM - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.86 by $0.05. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. The business had revenue of $10.14 billion during the quarter, compared to analysts' expectations of $10.33 billion. During the same period in the previous year, the business earned $1.59 earnings per share. The firm's revenue was up 7.1% on a year-over-year basis. Equities analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International's dividend payout ratio (DPR) is 102.66%.

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.

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