Parr Mcknight Wealth Management Group LLC Lowers Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Parr Mcknight Wealth Management Group LLC cut its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 21.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,831 shares of the company's stock after selling 4,446 shares during the quarter. Parr Mcknight Wealth Management Group LLC's holdings in Philip Morris International were worth $2,513,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Pacifica Partners Inc. raised its holdings in shares of Philip Morris International by 115.0% during 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 bought a new stake in Philip Morris International during the 1st quarter valued at approximately $35,000. Knuff & Co LLC purchased a new position in shares of Philip Morris International in the 4th quarter valued at approximately $36,000. Ball & Co Wealth Management Inc. bought a new position in Philip Morris International in the fourth quarter worth $36,000. Finally, Ameriflex Group Inc. purchased a new position in Philip Morris International during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PM. UBS Group raised Philip Morris International from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $130.00 to $170.00 in a research report on Friday, April 25th. Citigroup increased their target price on Philip Morris International from $188.00 to $200.00 and gave the company a "buy" rating in a report on Thursday. Wall Street Zen raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Morgan Stanley restated an "overweight" rating and issued a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Finally, Stifel Nicolaus boosted their price target on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $185.73.

Philip Morris International Stock Up 1.6%

Shares of PM traded up $2.87 during mid-day trading on Thursday, reaching $180.85. The company had a trading volume of 5,208,523 shares, compared to its average volume of 5,637,079. The stock has a 50 day moving average of $177.65 and a two-hundred day moving average of $155.73. The stock has a market capitalization of $281.50 billion, a P/E ratio of 37.29, a PEG ratio of 2.58 and a beta of 0.51. Philip Morris International Inc. has a 52-week low of $102.75 and a 52-week high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates of $1.61 by $0.08. The firm had revenue of $9.30 billion for 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%. Philip Morris International's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company posted $1.50 EPS. On average, sell-side analysts expect 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. 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 dividend yield of 2.99%. The ex-dividend date is Friday, June 27th. Philip Morris International's dividend payout ratio (DPR) is presently 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.