Nisa Investment Advisors LLC Sells 38,121 Shares of Philip Morris International Inc. (NYSE:PM)

Nisa Investment Advisors LLC cut its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 6.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 554,146 shares of the company's stock after selling 38,121 shares during the quarter. Nisa Investment Advisors LLC's holdings in Philip Morris International were worth $88,708,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. 49 Wealth Management LLC increased its holdings in shares of Philip Morris International by 79.0% during the first quarter. 49 Wealth Management LLC now owns 5,334 shares of the company's stock valued at $847,000 after purchasing an additional 2,354 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings 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 purchasing an additional 87,631 shares during the period. Brighton Jones LLC increased its holdings in shares of Philip Morris International by 31.1% during the fourth 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 during the period. Symmetry Investments LP acquired a new position in shares of Philip Morris International during the fourth quarter valued at $1,966,000. Finally, Worth Asset Management LLC acquired a new position in shares of Philip Morris International during the first quarter valued at $2,223,000. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Performance

Shares of NYSE:PM traded down $1.26 during trading on Friday, hitting $179.73. 3,430,602 shares of the stock were exchanged, compared to its average volume of 5,643,398. Philip Morris International Inc. has a 1-year low of $104.84 and a 1-year high of $186.69. The company has a market capitalization of $279.75 billion, a price-to-earnings ratio of 37.06, a price-to-earnings-growth ratio of 2.61 and a beta of 0.51. The company's fifty day simple moving average is $178.05 and its 200-day simple moving average is $156.75.

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 the consensus estimate of $1.61 by $0.08. The business had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. 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 firm earned $1.50 EPS. On average, research 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Friday, June 27th. Philip Morris International's dividend payout ratio is currently 111.34%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PM shares. Barclays lifted their target price on Philip Morris International from $220.00 to $225.00 and gave the stock an "overweight" rating in a report on Thursday. Wall Street Zen lowered Philip Morris International from a "buy" rating to a "hold" rating in a report on Saturday. Needham & Company LLC started coverage on Philip Morris International in a report on Thursday, May 22nd. They set a "buy" rating on the stock. Jefferies Financial Group started coverage on Philip Morris International in a report on Wednesday. They set a "buy" rating and a $220.00 target price on the stock. Finally, UBS Group raised 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 report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating and eleven 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 $185.73.

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.