HM Payson & Co. Has $6.58 Million Position in Philip Morris International Inc. (NYSE:PM)

HM Payson & Co. lowered its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 9.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,468 shares of the company's stock after selling 4,199 shares during the period. HM Payson & Co.'s holdings in Philip Morris International were worth $6,582,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Pacifica Partners Inc. raised its holdings in Philip Morris International by 115.0% in the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after acquiring an additional 115 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new stake in Philip Morris International in the first quarter valued at $35,000. Inlight Wealth Management LLC acquired a new stake in Philip Morris International in the first quarter valued at $38,000. Ameriflex Group Inc. acquired a new stake in Philip Morris International in the fourth quarter valued at $36,000. Finally, Knuff & Co LLC bought a new stake in Philip Morris International during the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

PM has been the subject of several recent research reports. Stifel Nicolaus boosted their target price on shares of Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. UBS Group upgraded shares of Philip Morris International from a "sell" rating to a "neutral" rating and boosted their target price for the company from $130.00 to $170.00 in a research note on Friday, April 25th. Wall Street Zen upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Citigroup upped their price target on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. Finally, Morgan Stanley restated an "overweight" rating and set a $182.00 price target (up previously from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, Philip Morris International has an average rating of "Moderate Buy" and a consensus price target of $176.80.

Philip Morris International Stock Performance

Shares of NYSE PM traded up $3.09 during mid-day trading on Friday, reaching $179.00. The company had a trading volume of 2,734,143 shares, compared to its average volume of 5,642,713. The stock has a fifty day moving average of $177.14 and a two-hundred day moving average of $154.59. The company has a market capitalization of $278.62 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 2.59 and a beta of 0.51. Philip Morris International Inc. has a 12-month low of $101.62 and a 12-month high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, topping 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%. The firm's revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.50 earnings per share. Sell-side 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors 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 dividend on an annualized basis and a yield of 3.02%. Philip Morris International's dividend payout ratio is currently 111.34%.

Philip Morris International 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.