GAM Holding AG Sells 4,182 Shares of Philip Morris International Inc. (NYSE:PM)

GAM Holding AG lessened its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 22.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,747 shares of the company's stock after selling 4,182 shares during the quarter. GAM Holding AG's holdings in Philip Morris International were worth $2,341,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Stonegate Investment Group LLC raised its position in Philip Morris International by 41.9% during the 1st quarter. Stonegate Investment Group LLC now owns 19,250 shares of the company's stock worth $3,056,000 after purchasing an additional 5,685 shares during the last quarter. Retirement Planning Group LLC NY bought a new position in Philip Morris International during the 1st quarter worth $261,000. Advisor Resource Council bought a new position in shares of Philip Morris International during the first quarter worth about $1,094,000. Segment Wealth Management LLC bought a new position in shares of Philip Morris International during the first quarter worth about $443,000. Finally, Arrow Investment Advisors LLC bought a new position in shares of Philip Morris International during the first quarter worth about $259,000. Institutional investors own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PM shares. Barclays restated an "overweight" rating and set a $220.00 price target (up previously from $205.00) on shares of Philip Morris International in a report on Friday, June 13th. Bank of America lifted their target price on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Needham & Company LLC began coverage on shares of Philip Morris International in a research note on Thursday, May 22nd. They set a "buy" rating for the company. Morgan Stanley reissued an "overweight" rating and issued a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Finally, Wall Street Zen raised Philip Morris International from a "hold" rating to a "buy" rating in a research report on Saturday. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $176.80.

Philip Morris International Trading Down 0.0%

Shares of PM stock opened at $182.57 on Friday. The firm has a market capitalization of $284.18 billion, a PE ratio of 37.64, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. The firm has a fifty day simple moving average of $173.82 and a two-hundred day simple moving average of $150.99. Philip Morris International Inc. has a 12 month low of $98.93 and a 12 month high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.08. The business had revenue of $9.30 billion during 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%. Philip Morris International's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.50 EPS. On average, equities 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International's dividend payout ratio is currently 111.34%.

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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