First Horizon Advisors Inc. Sells 3,093 Shares of Philip Morris International Inc. (NYSE:PM)

First Horizon Advisors Inc. trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 1.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 214,490 shares of the company's stock after selling 3,093 shares during the period. Philip Morris International accounts for about 1.0% of First Horizon Advisors Inc.'s holdings, making the stock its 26th biggest holding. First Horizon Advisors Inc.'s holdings in Philip Morris International were worth $34,046,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in PM. Brighton Jones LLC raised 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 during the period. Revolve Wealth Partners LLC increased its stake in shares of Philip Morris International by 4.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company's stock valued at $252,000 after acquiring an additional 91 shares during the period. Fisher Asset Management LLC increased its stake in shares of Philip Morris International by 34.9% during the fourth quarter. Fisher Asset Management LLC now owns 14,802 shares of the company's stock valued at $1,781,000 after acquiring an additional 3,829 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in Philip Morris International by 4.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 108,956 shares of the company's stock worth $13,113,000 after buying an additional 4,719 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI boosted its holdings in Philip Morris International by 41.7% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 3,166 shares of the company's stock worth $380,000 after buying an additional 932 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on PM shares. Needham & Company LLC began coverage on shares of Philip Morris International in a research note on Thursday, May 22nd. They issued a "buy" rating for the company. Morgan Stanley reissued an "overweight" rating and set a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Argus upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a report on Friday, March 14th. Stifel Nicolaus boosted their price objective on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Finally, UBS Group raised shares of Philip Morris International from a "sell" rating to a "neutral" rating and upped their target price for the company from $130.00 to $170.00 in a research note on Friday, April 25th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $176.80.

Philip Morris International Stock Performance

Shares of Philip Morris International stock traded up $3.09 during trading hours on Thursday, reaching $179.00. The company's stock had a trading volume of 2,734,143 shares, compared to its average volume of 5,634,419. Philip Morris International Inc. has a one year low of $100.80 and a one year high of $186.69. The company has a market capitalization of $278.62 billion, a P/E ratio of 36.91, a P/E/G ratio of 2.55 and a beta of 0.51. The stock's fifty day simple moving average is $176.79 and its two-hundred day simple moving average is $153.86.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings results 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 analyst estimates 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 was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $1.50 earnings per share. As a group, research analysts forecast 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 declared 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. The ex-dividend date of this dividend is Friday, June 27th. This represents a $5.40 annualized dividend and a dividend yield of 3.02%. Philip Morris International's payout ratio is currently 111.34%.

Philip Morris International Company 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.