HM Payson & Co. Sells 4,199 Shares of Philip Morris International Inc. (NYSE:PM)

HM Payson & Co. lowered its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 9.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Philip Morris International by 24.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock valued at $69,695,000 after buying an additional 87,631 shares during the period. Brighton Jones LLC increased its holdings in Philip Morris International by 31.1% in the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock valued at $1,027,000 after purchasing an additional 2,023 shares in the last quarter. Symmetry Investments LP acquired a new stake in shares of Philip Morris International during the fourth quarter valued at about $1,966,000. Worth Asset Management LLC acquired a new stake in shares of Philip Morris International during the first quarter valued at about $2,223,000. Finally, Annex Advisory Services LLC grew its stake in Philip Morris International by 46.6% in the first quarter. Annex Advisory Services LLC now owns 34,715 shares of the company's stock worth $5,510,000 after purchasing an additional 11,034 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PM. Morgan Stanley reaffirmed an "overweight" rating and issued a $182.00 price target (up from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Wall Street Zen raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Needham & Company LLC initiated coverage on shares of Philip Morris International in a report on Thursday, May 22nd. They set a "buy" rating for the company. Stifel Nicolaus upped 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, Argus upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Philip Morris International currently has an average rating of "Moderate Buy" and a consensus target price of $176.80.

Philip Morris International Stock Up 1.3%

Shares of NYSE:PM traded up $2.24 during midday trading on Monday, hitting $181.12. The stock had a trading volume of 4,460,518 shares, compared to its average volume of 5,638,347. Philip Morris International Inc. has a 12 month low of $101.62 and a 12 month high of $186.69. The business's 50-day simple moving average is $177.14 and its 200-day simple moving average is $155.03. The company has a market cap of $281.92 billion, a P/E ratio of 37.34, a PEG ratio of 2.59 and a beta of 0.51.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.08. The firm had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $9.10 billion. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.50 earnings per share. As a group, equities analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The business also recently announced 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. This represents a $5.40 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International's payout ratio is presently 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.