Hennessy Advisors Inc. Cuts Stake in Philip Morris International Inc. (NYSE:PM)

Hennessy Advisors Inc. lessened its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 14.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 67,300 shares of the company's stock after selling 11,400 shares during the period. Hennessy Advisors Inc.'s holdings in Philip Morris International were worth $10,683,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of PM. Lloyd Advisory Services LLC. raised its holdings in shares of Philip Morris International by 3.3% in the first quarter. Lloyd Advisory Services LLC. now owns 2,032 shares of the company's stock worth $323,000 after buying an additional 64 shares during the last quarter. Omnia Family Wealth LLC grew its position in Philip Morris International by 1.7% during the fourth quarter. Omnia Family Wealth LLC now owns 3,851 shares of the company's stock valued at $469,000 after buying an additional 65 shares during the period. Sonora Investment Management Group LLC grew its position in Philip Morris International by 0.6% during the first quarter. Sonora Investment Management Group LLC now owns 11,240 shares of the company's stock valued at $1,784,000 after buying an additional 68 shares during the period. Meridian Wealth Partners LLC grew its position in Philip Morris International by 4.1% during the fourth quarter. Meridian Wealth Partners LLC now owns 1,781 shares of the company's stock valued at $214,000 after buying an additional 70 shares during the period. Finally, NewSquare Capital LLC lifted its holdings in Philip Morris International by 53.7% during the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company's stock valued at $25,000 after purchasing an additional 72 shares in the last quarter. Institutional investors own 78.63% of the company's stock.

Analyst Upgrades and Downgrades

PM has been the topic of several recent analyst reports. Morgan Stanley reaffirmed an "overweight" rating and set a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. UBS Group raised shares of Philip Morris International from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $130.00 to $170.00 in a research note on Friday, April 25th. 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. Argus raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. Finally, Needham & Company LLC initiated coverage on shares of Philip Morris International in a report on Thursday, May 22nd. They issued a "buy" rating for the company. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $176.80.

Philip Morris International Price Performance

Shares of NYSE:PM traded down $0.09 during trading on Friday, hitting $184.01. 5,500,599 shares of the company were exchanged, compared to its average volume of 5,615,900. The stock has a market capitalization of $286.41 billion, a P/E ratio of 40.80, a PEG ratio of 2.65 and a beta of 0.52. Philip Morris International Inc. has a 12-month low of $98.93 and a 12-month high of $185.16. The firm's 50 day moving average price is $170.67 and its 200-day moving average price is $149.34.

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, topping the consensus estimate of $1.61 by $0.08. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter in the previous year, the firm earned $1.50 EPS. The company's revenue was up 5.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.93%. Philip Morris International's 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.