Philip Morris International Inc. (NYSE:PM) is InvesTrust's 5th Largest Position

InvesTrust trimmed its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 4.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 57,199 shares of the company's stock after selling 2,878 shares during the quarter. Philip Morris International comprises about 2.5% of InvesTrust's holdings, making the stock its 5th biggest holding. InvesTrust's holdings in Philip Morris International were worth $9,079,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in shares of Philip Morris International by 23.3% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 56,737 shares of the company's stock valued at $6,828,000 after acquiring an additional 10,703 shares during the last quarter. Empire Life Investments Inc. boosted its holdings in shares of Philip Morris International by 11.6% during the 4th quarter. Empire Life Investments Inc. now owns 94,423 shares of the company's stock valued at $11,364,000 after acquiring an additional 9,789 shares during the last quarter. Game Plan Financial Advisors LLC boosted its holdings in shares of Philip Morris International by 80.9% during the 4th quarter. Game Plan Financial Advisors LLC now owns 7,660 shares of the company's stock valued at $922,000 after acquiring an additional 3,425 shares during the last quarter. Brighton Jones LLC boosted its holdings in shares of Philip Morris International by 31.1% in the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock worth $1,027,000 after buying an additional 2,023 shares during the last quarter. Finally, Symmetry Investments LP purchased a new position in shares of Philip Morris International in the fourth quarter worth approximately $1,966,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Lars Dahlgren sold 3,679 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $152.96, for a total value of $562,739.84. Following the sale, the insider now owns 26,828 shares in the company, valued at approximately $4,103,610.88. The trade was a 12.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

PM has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. UBS Group raised shares of Philip Morris International from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $130.00 to $170.00 in a report on Friday, April 25th. Wall Street Zen downgraded shares of Philip Morris International from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Bank of America raised their price objective on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Needham & Company LLC initiated coverage on shares of Philip Morris International in a report on Thursday, May 22nd. They issued a "buy" rating on the stock. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, Philip Morris International presently has an average rating of "Moderate Buy" and a consensus price target of $175.30.

Philip Morris International Stock Down 1.1%

NYSE:PM traded down $1.98 during trading hours on Wednesday, hitting $180.39. 5,681,312 shares of the stock traded hands, compared to its average volume of 5,617,500. Philip Morris International Inc. has a 1 year low of $98.93 and a 1 year high of $183.94. The company has a market cap of $280.78 billion, a price-to-earnings ratio of 40.00, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. The stock has a 50 day moving average price of $166.38 and a 200 day moving average price of $146.52.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.08. The firm had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $9.10 billion. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.50 earnings per share. Equities analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.99%. The ex-dividend date was Thursday, March 20th. 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.